Decoding payments: On Focus Interview with Mihail Mihaylov, Technical Support Manager

The spotlight in our latest On Focus interview is reserved this month for our very own tech ninja, Mihail Mihaylov, Technical Support Manager. Join us as he unravels the intricacies of payment gateways, shares insights into online security, and dives deep into the tech side of payment processing, integrations, and more. Mihail sheds light on the challenges and solutions that shape the seamless tech experience at CatalystPay, offering a behind-the-scenes look into the innovative solutions steering the future of fintech. Let's explore the intricate details of payment tech together!

Can you provide a brief introduction about yourself and your role at CatalystPay?

In my professional journey, I have garnered over 10 years of experience in the tech industry, specialising in technical support and customer success. I have been involved in various projects which include project management, development and quality assurance. My journey in the fintech industry began in 2017 when I started working for one of the leading acquirer and payment service provider. 

My decision to join CatalystPay in 2023 stems from the company's commitment to pushing the boundaries of innovation in the fintech space. I am excited about the prospect of contributing my diverse skill set and industry experience to further elevate CatalystPay's position as a trailblazer in technology-driven financial solutions.

Currently serving as the Technical Support Manager at CatalystPay, I hold a multifaceted role that revolves around orchestrating support operations, spearheading product development initiatives, and ensuring the highest standards in development and quality assurance.

In my spare time I love spending time with my family, playing with my son and reading. Another passion of mine besides my family and my career is viticulture, wine and rakia making. 

Based on your experience, what are the most common technical challenges faced by merchants when integrating with payment gateways? And how does CatalystPay address and mitigate these challenges to enhance the overall merchant experience?

Most commonly, the primary challenge for a merchant when integrating with a specific gateway is in poorly structured and challenging-to-understand documentation. It is crucial for merchants to grasp the functionality of the API beyond mere code examples. CatalystPay acknowledges the significance of providing developers with more than plain code snippets. To address this, the platform offers interactive API documentation, allowing developers to explore functionalities in real-time, facilitating a better understanding of various API endpoints, required data, and expected responses.

CatalystPay also recognizes the importance of live examples and code snippets in different programming languages, making the documentation accessible to a variety of technical stacks. This not only enhances comprehension but also expedites the integration process by providing tangible, applicable resources. 

Another challenge that merchants might encounter is the absence of a Software Development Kit (SDK) in their preferred language. SDKs play a vital role in simplifying development, and CatalystPay has already taken strides in addressing this by offering a Python SDK, as well as Mobile SDKs for Android and iOS.

It's worth noting that not all merchants aim for complex custom integrations; some prefer using shopping carts for easy installation and configuration through payment plugins. CatalystPay understands this and has introduced plugins for OpenCart 3/4 and WooCommerce. Furthermore, the platform is actively working on expanding its plugin portfolio to include support for additional shopping carts. This recognition and commitment aim to provide a seamless and versatile integration experience for merchants.

What are the key factors of merchants when considering payment gateway integration?

Among the key factors, besides the business ones, the reliability of a payment gateway is fundamental. Merchants focus on the uptime percentage, indicating the system's availability for processing transactions seamlessly. A high uptime percentage ensures business continuity and customer satisfaction.  Another key factor is the simplicity of the integration, when it comes to setting up shop online, merchants love it when the tech stuff isn't a headache. They dig payment gateways that make things easy – you know, clear instructions, handy tools like APIs and SDKs, and docs that actually make sense. It's like having a tech-savvy friend guide you through the whole setup hassle-free. Last but not least is having helpful customer support is like having a trusty sidekick for merchants. They really appreciate payment gateways that offer solid support and clear agreements on fixing issues quickly. It's kind of like having someone in your corner when things don't go as planned.

What security measures does CatalystPay have in place to safeguard merchants and customers during transactions?

Choosing a payment gateway that is super secure is like putting a strong lock on an online store's digital door. It's not just about keeping information safe; it's a big deal for building trust. For the sellers, it's about protecting their business and reputation. And for us shoppers, it means we can trust that our personal info won't end up in the wrong hands. So, having a super secure payment setup is like having a reliable friend in the online shopping world.

CatalystPay implements a range of security measures to protect both merchants and customers during transactions, aligning with industry best practices. This includes robust encryption protocols (like SSL/TLS) to safeguard data in transit, tokenization for added data protection, and compliance with the Payment Card Industry Data Security Standard (PCI DSS) to ensure a secure environment for credit card information.

Secure APIs and Webhooks are utilized to facilitate the exchange of data between merchants and the payment gateway securely, minimizing the risk of unauthorized access.

Orchestration, Smart routing, among many. Can you explain what each is and how it differs from payment gateway. Does CatalystPay support them and how?

A payment gateway handles the secure transfer of funds online. Orchestration involves optimizing the entire payment process, coordinating different services. Smart routing intelligently selects the best path for each transaction based on real-time data and rules. CatalystPay supports all of the above and orchestration and smart routing are built in features in the gateway.

What are the future plans of CatalystPay technologically wise? 

Catalystpay is concentrating on expanding their portfolio of provided solutions, starting with new shopping cart plugins and SDKs for different programming languages. We are also looking to automate as much as possible the internal processes in order for the merchants to receive their documents and information faster. Additionally, we are currently developing a new offering to our existing processing business with which we aim to provide a one-stop-shop financial solution to fast-growing businesses.