Tranzzo: Easing the flow of online payments
About Tranzzo
Since 2017, Tranzzo has been creating solutions and technologies that help entrepreneurs around the world to accept online payments through a variety of methods.
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About Wise IT
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With Google Cloud, Tranzzo has built a one-stop payment platform for online businesses that has not only withstood the challenges of war, but thrived and expanded.
Google Cloud results
- Offers a full range of payment solutions for improved conversion rates and a 99.9% SLA with minimal overheads for clients
- Accelerates its international expansion through the global reach of Google Cloud
- Partners with the Ukrainian government to accept donations for the Ukrainian war effort
- Optimizes the business for efficiency and agility with Cloud Monitoring, Cloud Logging, and transparent billing options
Boosts payment conversion rates to 95% for customers
A like may be nice, but it won't keep the lights on. There are many different kinds of customer engagement and many ways to measure them, but for online businesses, the highest form of engagement is when a customer pays for the product or service they want. But the journey there can be a delicate one. Researchers at the Baymard Institute for Web UX found that nearly 70% of online shopping carts were abandoned without payment. Almost half of these were because of problems with the payment process.
"We needed a cloud infrastructure because we anticipated rapid growth, but as a fintech company, security and compliance are critical for us. We saw that in addition to rapid scalability, Google Cloud provides very impressive security features that would help us to comply with financial regulations across the world."
—Yuriy Gorbylov, CTO, TranzzoUkrainian company Tranzzo wants to make abandoned shopping carts a thing of the past. By providing an easy to use, comprehensive solution that accommodates multiple payment methods, Tranzzo helps online businesses to boost their payment conversion rates and stay solvent. When Tranzzo launched in 2017, only Google Cloud fit the requirements for a technology infrastructure built to last.
"We needed a cloud infrastructure because we anticipated rapid growth, but as a fintech company, security and compliance are critical for us," says Yuriy Gorbylov, CTO, Tranzzo. "We saw that in addition to rapid scalability, Google Cloud provides very impressive security features that would help us to comply with financial regulations across the world."
All-encompassing and easy to use
If Tranzzo has a secret to its success, it's in the totality and simplicity of its solution. The company offers online businesses a variety of reliable, secure ways to accept online payment, from card transactions to one touch integrations with the likes of Google Pay and Apple Pay. Tranzzo provides this in a single, simplified integration, allowing clients to focus on what matters most to them.
For businesses who want to process payments under their own brand, Tranzzo offers a white label Software-as-a-Service (SaaS) platform, which comes fully equipped and licensed for multiple payment methods.
The white label SaaS platform suits small payment service providers (PSPs) and large companies looking to expand by building their own payment systems. The white label solution includes Orchestrator, SaaS, and Enterprise products.
One significant advantage of the white label solution is the considerable time and cost savings when launching a payment service. Typically, creating a PSP takes around two years and costs about $2.4 million. However, with Tranzzo's system, businesses can set up a payment service and start accepting payments within just a month.
For all this to work, Tranzzo's technology infrastructure has to thread a series of needles. Firstly, it needs to be able to ingest, collate, and analyze data from multiple streams, at scale, to provide the sheer range of services that it does. It also has to be as reliable as possible, since any downtime results in lost payments for customers. Finally, as it handles sensitive financial data, the company needs to have rock-solid security and comply with strict regulations across various regions.
Building the foundations of success
When the company was in its very earliest stages, Gorbylov and his colleagues searched hard for the right infrastructure. Google Cloud stood out from the competition because of its ease of use, global presence, and flexible billing, all of which were crucial for a startup like Tranzzo trying to make the best use of limited resources.
Tranzzo consulted with Google Cloud Partner Wise IT to build and implement its new infrastructure and the relationship continues to this day. "Wise IT helps us with our technical issues, but they also provide strategic support by introducing us to new products and arranging meetings with the Google Cloud engineering teams," says Gorbylov.
"Cloud SQL is at the root of everything we do, and we host all our databases on it. It's so easy to work with and scale because so much of the management is taken care of."
—Yuriy Gorbylov, CTO, TranzzoTranzzo runs on a microservices-based infrastructure orchestrated with Google Kubernetes Engine. The company uses Cloud Storage as a simple, secure repository for unstructured data, while Cloud Monitoring and Cloud Logging help developers set performance metrics and debug issues quickly and efficiently.
Pub/Sub is the infrastructure's messaging service and enables the platform to be event-driven and responsive. Pub/Sub also provides the link that synchronizes the microservices with Tranzzo's core databases held in Cloud SQL and analyzed with BigQuery.
"Cloud SQL is at the root of everything we do, and we host all our databases on it," says Gorbylov. "It's so easy to work with and scale because so much of the management is taken care of."
A tale of resilience
Tranzzo has built a one-stop payment platform that is relied on by organizations of all kinds from online merchants to e-learning platforms to other financial service providers. With Google Cloud at its core, Tranzzo maintains a 99.9% service level agreement with its clients, ensuring that their payment processing is reliable and secure. Meanwhile, the company's range of products and low-friction interface enables clients to choose the right fit for their customers, helping to boost payment conversion rates to more than 94%.
These results would be impressive enough on their own, but the real test for Tranzzo came in the early months of 2022, when Ukraine faced a full-scale invasion. While the country went to war, Tranzzo's employees dispersed throughout Europe but stayed operational in Kyiv. Up to that point, the majority of its customers were Ukrainian businesses, most of which were no longer running, so the company accelerated its international presence. The Google Cloud global network and compliance services helped to simplify this process enormously, and Tranzzo has not just survived but expanded. Today, the company processes more than 10 million transactions a month for 3,000 clients and partners with 230 banks and PSP across multiple regions.
"Google Cloud has been fundamental to our success and the way we do things. We can work quickly and at scale because it takes care of the routine infrastructure management. We can focus on the business challenges that really matter."
—Yuriy Gorbylov, CTO, TranzzoIn addition, Tranzzo has helped its fellow Ukrainians as the country remains at war. Within the first few days of the invasion, the company teamed up with the Ukrainian Ministry of Digital Transformation to develop a way for Ukrainians to donate to the war effort via the government mobile app Diia. In just a single day, the app registered more than $1 million in donations. After two months, more than 280,000 Ukrainians had donated over $10 million. Following this success, Tranzzo once again worked with the Ukrainian government to help develop the United24 fundraising platform which was designed to accept payments from anywhere in the world. In its first four months, United24 raised $175 million.
Despite the conflict, Tranzzo has gone from strength to strength, while staying lean and agile. By making full use of managed services with Google Cloud, the company can direct its resources to core business challenges like expansion or quality assurance. Meanwhile, transparent and flexible billing with Google Cloud help Tranzzo to optimize the way it uses the platform and be strategic about what to use and when. In addition to its expansion and its work with the government, the company continues to innovate. Tranzzo is currently exploring AI and machine learning within Google Cloud to help improve its fraud detection capabilities and keep its customers even safer.
"Google Cloud has been fundamental to our success and the way we do things," says Gorbylov. "We can work quickly and at scale because it takes care of the routine infrastructure management. We can focus on the business challenges that really matter."
Tell us your challenge. We're here to help.
Contact us
About Tranzzo
Since 2017, Tranzzo has been creating solutions and technologies that help entrepreneurs around the world to accept online payments through a variety of methods.
About Wise IT
Wise IT helps organizations transform their way of working with all-inclusive technology solutions, software licensing, hardware, and related IT services.