What are the most common payment system architecture patterns for online banking?

1 Centralized Architecture

A centralized architecture is one where all the payment processing logic and data are stored and executed in a single server or database. This approach has the advantage of simplicity, consistency, and easy maintenance, as there is only one point of control and access. However, it also has some drawbacks, such as limited scalability, single point of failure, and vulnerability to attacks. If the central server goes down or is compromised, the entire payment system can be disrupted or exposed.

2 Distributed Architecture

A distributed architecture is one where the payment processing logic and data are distributed across multiple servers or databases, each with a specific role or function. This approach has the advantage of scalability, redundancy, and resilience, as there are multiple points of control and access, and the system can handle more transactions and recover from failures. However, it also has some challenges, such as complexity, synchronization, and coordination. If the servers or databases are not aligned or integrated, the payment system can face inconsistencies or errors.

3 Hybrid Architecture

A hybrid architecture is one where the payment processing logic and data are split between a central server or database and multiple distributed servers or databases. This approach has the advantage of combining the benefits of both centralized and distributed architectures, such as simplicity, consistency, scalability, redundancy, and resilience. However, it also has some trade-offs, such as increased cost, overhead, and latency. If the central and distributed components are not well-balanced or optimized, the payment system can suffer from inefficiency or bottlenecks.

4 Microservices Architecture

A microservices architecture is one where the payment processing logic and data are divided into small, independent, and modular services that communicate with each other through APIs. This approach has the advantage of flexibility, agility, and adaptability, as each service can be developed, deployed, and updated independently and dynamically. However, it also has some difficulties, such as testing, monitoring, and debugging. If the services are not well-designed or documented, the payment system can encounter issues or failures.

5 Serverless Architecture

A serverless architecture is one where the payment processing logic and data are executed and stored in a cloud-based platform that provides on-demand computing resources and services. This approach has the advantage of scalability, performance, and cost-effectiveness, as the platform handles the infrastructure and management of the system and only charges for the actual usage. However, it also has some limitations, such as security, compliance, and vendor lock-in. If the platform is not secure or compliant with the regulations or standards, the payment system can be exposed or restricted.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?