The world is going digital, and your app needs to offer a seamless payment process. Whether you're developing an investment app or a marketplace, integrating a payment gateway in the mobile is the best option. Besides, the less complicated the process, the more sales you can generate. However, retailers who plan to go for mobile app development focus on various facts. Moreover, they need to ensure that things are quick, easy and offer a safe checkout experience.
Mobile Payment Gateway
A mobile payment gateway authorizes and processes payments in apps. Here, the technology uses the latest protocols and encryption and passes the transaction data safely. The gateway serves as an in-between service. It facilitates operations between customers and the seller. Everything happens in a fraction of seconds.
Once the customer adds products to the cart, the payment gateway allows the merchant to enter payment information. After the checkout process, the payment gateway sends requests to the card-issuing bank. If everything is okay, your transaction is done.
Choosing the best mobile payment gateway
Some payment gateway has a barrier when it comes to the international market. Before you select a mobile payment gateway provider, you need to ensure which countries you plan to target. For instance, Stripe is supported in 25 countries, while Paypal works in over 200 nations. If you're explicitly targeting Great Britain, TSYS is the best option.
Different mobile payment gateway supports various payment methods. Our app development company can help you find preferable payment methods before adding the gateway to your application.
Top Payment Gateways
Before we move any further, we'll focus on the top service provider for mobile payment gateway.
PayPal is legal in more than 200 countries. Moreover, its the largest gateway provider. Basically, it offers split purchase transactions, reporting tools, simple invoicing and payment procedures. Users can opt for arrays of methods to choose from.
Stripe is gaining popularity. It supports over 135 currencies. It's one of the biggest payment gateway providers. However, it is available only in 25 countries.
TSYS generates user reports and gives access to detailed analytics. Basically, it's one of the most user-friendly payment gateways and is most suitable for small and medium businesses. It offers a simple interface.
How much does the mobile app integration cost?
Integration of payment gateway totally depends on the project's complexity, the time needed for integration and service providers charge. Also, you may need to add both basic and advanced features to your mobile application.
There's a database for storing credit card data, refund management modules, and channels linking the bank account to the application and customers.
The overall integration process is pretty complex. There's coding and other varieties of technical addition to your mobile app. Moreover, there's a discovery phase in each mobile gateway integration project. The service provider needs to deal with complex challenges in order to get your app ready.
If you're looking for a partner to design and develop a mobile application with a seamless transaction process, make sure you connect with V1 Technologies.