fonePaisa Payment Solutions Pvt. Ltd., headquartered in Bengaluru, India, is a digital payments company enabling non-cash payment among consumers, merchants and businesses.
As India moves towards a cashless economy, fonePaisa lets online and brick-and-mortar merchants accept all digital payment methods using a single account, allowing consumers to pay via their smartphone, tablet or desktop. fonePaisa helps businesses match payments against outstanding invoices and get their revenues faster.
fonePaisa realized that, in order to effectively “change the game” for the payment processing industry in India, they would need to provide a frictionless, convenient and secure payment process across all channels.
Their strategy to aggregate myriad payment sources—along with the ability to debit any credit or debit card from any bank in India, and support the 15 most prominent mobile wallets—requires a robust, secure and scalable infrastructure to support millions of daily transactions.
Yet, as a start-up enterprise, fonePaisa must also keep infrastructure costs as low as possible to ensure the most economical cost of development, and to deliver the most affordable solutions to their customers.
With all of these factors to consider, when it came to choosing a relational database management system (RDBMS), fonePaisa realized they had to challenge the status quo. They evaluated the most popular open source database offerings but wanted the confidence of knowing that the solution chosen had proven successful within other banks and financial services organizations.
Having completed initial development of their core applications on Oracle, fonePaisa realized early on that being shackled by Oracle’s licensing model would be an expensive long-term proposition. What’s more, during the early stages of the relationship with Oracle, there was never a feeling of partnership, and there were issues with support.
fonePaisa selected Tibero RDBMS after completing a proof-of-concept which convinced them of Tibero’s reliability, availability, security and speed of transaction processing. The entire process of migrating legacy developed source-code from Oracle to Tibero was issue-free, and minor gaps were plugged easily with the able support from Tibero, available locally in Bengaluru. The fonePaisa team also realized immediately that the skillsets of their DBAs, who were trained on Oracle, were easily transferable to working with Tibero. The fonePaisa team also benefited from the TmaxSoft commitment to helping its customers innovate, improve their performance, and succeed in their markets fonePaisa has seized the opportunity of mobile convergence—simplifying payments and blending savings, payments, security and loyalty into a seamless experience—and they are now poised for dramatic growth. In partnership with TmaxSoft, they have built a dynamic, yet secure database infrastructure with Tibero that supports the needs of their business today, and one that will expand to meet the future demands of their digital business—with a 64% lower total cost of ownership (TCO), and at one-third the cost of Oracle. For fonePaisa, Tibero is 280% more cost-efficient than Oracle.
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