ClassWallet – Innovative Financial and Payment System Share: ELIFTECH Score Awaiting client review n/a Date Published 14 November 2018 Reading Time 2-Minute Read ClassWallet aims to reduce transaction costs, track financial transactions in real-time & eliminate bureaucracy from the educational financial system. Challenge Our task was to develop and implement a new version of the product that supports millions of users and includes such features as prepaid cards support, online transactions, a role-based security model, online shopping integration and other features. The client’s financial and payment system was developed on .Net technology that caused many problems, including very slow transaction processing and the inability to support system high loads. In order to scale the system, it became obvious to the client that the product had to undergo significant changes. The decision was made to switch from .Net to Node.js technology. One of the most challenging tasks to design a database and the architecture to support such features as mass disbursements to different accounts and maintain this system as an automatic operation. Results Based on the ongoing collaboration, the following results were achieved: successfully delivered the new, enhanced version of the product launched the product beta version live increased the speed of transactions improved website responsiveness enabled the system’s high load operations enabled ACH disbursements complied with PCI Security Standards provided a built-in report system Features prepaid cards support online transactions role-based security model high-load processing online shopping integration funds management reimbursements functionality fundraising functionality advanced reporting options