Mobile phones and apps have made it convenient for people to make payments to various vendors. If you are creating an eCommerce app, integrating a payment gateway is vital to boost sales and enhance user experience. Statistics reveal that around 73% of mobile users have made purchases using their devices.
It’s crucial to ensure that the payment gateway in your app functions smoothly and efficiently. Here are some key considerations to keep in mind:
Understanding Mobile Payment Gateways
A mobile payment gateway is a tool that enables merchants and buyers to carry out transactions within applications seamlessly. It allows users to accept online payments through their mobile apps.
Key participants in the payment process via the gateway include:
The issuing bank: verifies buyer funds availability
The merchant bank: ensures payment reception by the merchant
International payment systems check the validity of international transactions, accepting or rejecting them accordingly.
The payment gateway can enable customers to make payments using debit/credit cards, bank transfers, local payment methods, or digital wallets.
Popular Payment Gateway Providers
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PayPal
A widely known and secure service available in over 200 countries, offering transaction monitoring and invoice management.
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Stripe
Available in 46 countries, supporting over 135 currencies and various payment methods like subscription billing and mobile payments.
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Authorise.net
One of the oldest gateways, facilitating transactions for over 430k merchants across countries and partnering with major companies for accepting payments.
Key Points to Consider when Integrating a Payment Gateway
1. Understand Your Market
Research the preferred payment methods in different regions to choose the right gateway for your app.
2. Customize User Interface
Ensure the payment interface is user-friendly and visually appealing for seamless transactions.
3. Explore Additional Features
Consider integrating features like cryptocurrency payments after addressing legal aspects.
4. Prioritize Security Measures
Adhere to security standards like PCI-DSS to protect user payment information.
5. Provide Detailed Information
Communicate payment details clearly to users and offer support options for any issues.
6. Evaluate Payment Gateways’ Reputation
Consider company reputation, client feedback, and client base while selecting a payment gateway.
7. Consider Products to Sell
Choose payment processors based on whether you sell physical products, services, or digital goods.
8. Ensure Easy Integration
Opt for a payment gateway with a simple integration process and SDK compatibility.
9. Decide on the Merchant Account Type
Select the type of merchant account based on your business needs, considering cost and control.
Integration Process of a Mobile Payment Gateway
Follow these steps to integrate a payment gateway into your app:
Step 1: SDK Integration
Integrate server-side and client-side SDKs provided by the gateway for secure payment processing.
Step 2: API Connection
Utilize the gateway’s API for building the checkout system and securely handling transactions.
Step 3: Certification
Apply for certification to become a verified merchant and safeguard payment data.
Conclusion
Choosing the right payment gateway can be challenging. Consult with iOS app development experts for guidance on selecting and integrating a suitable gateway.
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