In Stenik most of our clients support and use the BORICA system card operator. In order to continue to maintain the ability of existing virtual POS terminals to accept payments unimpeded, we need to be in line with international standards, which currently require the construction (until 31.03.2021) of a connection with the new version of BORICA - Borica v.2 protocol EMV 3DS. In response to this, we have developed a module to integrate the new version of Borika with Magento 2.
Secure online payments with the new version of BORICA and EMV 3DS protocol
The changes in the requirements for the virtual POS terminals have imposed the need for a new version of BORICA, which would guarantee security and trouble-free payments, in full compliance with international standards - the implementation of the EMV 3DS protocol. At Stenik, we are aware of the growing share of users who pay with debit and credit cards and the need for security during the process, so the next step was to develop our module for the ability to quickly and securely implement online stores based on Magento 2 with the new version of BORICA.
Functionalities of Stenik's Magento 2 module for BORICA payments
The module we have developed allows for a secure connection according to the latest requirements of the 3DS protocol used in the payment platforms between Magento 2 and Borica v.2. Its main functionalities are:
- Choice of payment method in the "Card payment" checkout and secure connection with the Borica terminal provided by the respective bank with which the online merchant has a contract;
- Possibility in case of unsuccessful attempt to pay by card (insufficient availability, incorrectly entered 3D code or other), the customer to return to the cart with the same selected products from the order and possibility to order with a new attempt to pay online or choose another payment method (payment on delivery, leasing or other according to availability);
- Check by administrator of payment status to order - automatically and manually;
- Automatic generation of Magento invoice for each successful payment according to Magento standards;
- Possibility to return an amount to the cardholder, in whole or in part;
- Automatic order cancellation in case of unsuccessful transaction;
- Conversion to the currency of the virtual POS terminal, if the user buys in another currency.
The installation and configuration of the online payment method with Borica takes a short technical time for Stenik, as the main time is spent in communication with the bank chosen by the merchant. The sooner the bank's team completes its work, the sooner the online merchant can start accepting card payments through Borica in a real environment. At Stenik, we fully assist online merchants in generating all necessary payment certificates.
Which banks are working with BORICA?
With the BORICA system card operator are working some of our well-known banks in Bulgaria, such as UniCredit Bulbank, Postbank (Eurobank EFG Bulgaria), Central Cooperative Bank (CCB), ProCredit Bank Bulgaria.
DSK, First Investment Bank, and since 2021 Raiffeisenbank have been working with other virtual payment systems.
You have questions about online payments in Magento 2?
If you need a consultation to accept online payments from users for your Magento 2 online store, do not hesitate to contact the Stenik team.