Mostafa Al-Barrad
We would like to request an integration between Lago and MoneyHash, a payment orchestration platform that simplifies payment management for businesses in the MENA region. This integration would enable Lago clients to leverage MoneyHash's unified API to manage multiple payment gateways and local payment methods more efficiently, improving payment operations and customer experience.
Business Need and Justification:
  1. Centralized Payment Management:
MoneyHash provides a unified API for integrating with various payment gateways, local payment methods, and financial services, reducing the complexity of managing multiple, fragmented integrations. By integrating with MoneyHash, Lago can offer a streamlined solution for payment processing.
  1. Enhanced Payment Flexibility:
MoneyHash supports a wide range of local payment methods popular in the MENA region, such as mobile wallets, bank transfers, and cash-on-delivery options. This integration will enable Lago clients to offer a broader range of payment options, enhancing customer experience and potentially increasing conversion rates.
  1. Dynamic Payment Routing:
MoneyHash's payment orchestration capabilities allow dynamic routing of transactions based on rules set by the business, optimizing for cost, success rate, or other criteria. This feature can help Lago clients reduce transaction costs, minimize payment failures, and maximize revenue.
  1. Cost Efficiency and Security:
By integrating with MoneyHash, Lago can help clients achieve cost savings through optimized payment routes and better management of transaction fees. Additionally, MoneyHash adheres to compliance standards such as PCI-DSS, ensuring secure transactions.
  1. Scalability and Future Growth:
MoneyHash is designed to scale with business growth, supporting the addition of new payment methods, gateways, and services as needed. This aligns with the needs of Lago clients looking to expand in the MENA region and beyond, making it easier to enter new markets and offer localized payment methods quickly.
Scope and Requirements:
  • API Integration:
    Establish a secure API connection between Lago and MoneyHash to support seamless data exchange and payment processing.
  • Payment Methods Support:
    Ensure that all local and international payment methods supported by MoneyHash are available to Lago clients.
  • Dashboard Synchronization:
    Synchronize payment data and analytics from MoneyHash with Lago’s dashboard, providing real-time insights and reporting for finance and operations teams.
  • Security Compliance:
    Adhere to security and compliance standards, ensuring all transactions processed through MoneyHash meet PCI-DSS and other relevant regulations.
  • User Management:
    Provide user permissions and controls for managing access to payment data and configuration settings within the Lago platform.
Expected Benefits:
  • Improved Customer Experience:
    Offer a wider variety of local payment options, enhancing customer satisfaction and potentially increasing conversion rates.
  • Streamlined Operations:
    Reduce the operational complexity of managing multiple payment gateways and local payment methods.
  • Cost Savings:
    Optimize transaction routing to reduce payment processing costs and minimize failed transactions.
  • Scalable Payment Infrastructure:
    Support growth strategies by easily adding new payment methods and expanding into new markets.
Conclusion:
Integrating Lago with MoneyHash will significantly enhance payment processing capabilities by centralizing payment management, optimizing costs, and providing a scalable solution for future growth. This integration will help Lago clients offer a more seamless and flexible payment experience, particularly in regions where diverse local payment methods are essential.