How to Choose a Payment Gateway for Your Mobile App

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It’s not a secret that today the majority of purchases from online stores and ecommerce platforms are conducted through mobile devices. In 2022, the share of such purchases is projected to exceed 60 percent, and this trend is also promised to share customers’ purchasing habits and decisions in the future. If you own an online store or sell goods or services on dedicated ecommerce platforms, you want to make your customer experience as easy and convenient as possible so that they want to come back and buy more from you. An effective business application is an important ingredient to your business success. And if you want to make sure that your app best serves your customers, you need to think about mobile payment system integration. After that you can start looking for the company providing the best banking and financial software development services to make your app even more efficient.

How to Effectively Integrate a Payment Gateway in Your App?

If you don’t own a big international company, chances are you won’t be able to create your own billing system. So, to enable your customers to make payments via your app, you will need to avail yourself of an intermediary, which is a payment gateway.

To carry out your mobile payment integration, you need to choose between several options which currently remain the most popular and convenient. You can either directly implement the payment system within your app or rely on the third-party service that will process and transfer payments. With the former, your customers will need to provide their credit card details to carry out payments, whereas the latter involves encryption of your user data and protecting it against any unauthorized use.

If you decide to go for the first option and implement the payment process directly without your business application, you’ll need to make sure your app complies with the PCI-DSS security requirements. Only then your app will be considered reliable and safe to use. To boost your app’s reliability, you’ll need to employ protocols that secure all transactions. Additional methods of authentication such as 3D Secure and facial recognition also can be a great option.

Payment intermediary services use their own methods or processing and verifying data provided by users. So, it is you who decide which payment gateway can best meet your needs and deserves to be implemented in your app. Below are some worthwhile options you might want to consider.

PayPal

PayPal is rightly considered one of the most convenient payment methods. This payment service provider is often chosen by businesses that want to quickly receive payments and provide their customers with the best buying experience possible. PayPal is available in almost every country and is famed for its reliability, ease of use, and ability to quickly process payments. The service accepts more than 26 types of electronic payments and offers a simple invoicing method. You just need to create a merchant account with PayPal and start receiving payments. Note that PayPal will charge you a fee per each successful transaction, but that’s the case with any payment system so far.

Braintree

Though owned by PayPal, Braintree remains a full-fledged payment service provider. The reasons why many businesses opt for Braintree as a payment gateway for their apps are manifold. Available in more than 40 countries worldwide, Braintree serves millions of clients on a daily basis and ensures each transaction goes as smoothly as possible. It is also known for its ability to quickly process and protect payments against all types of fraud. Braintree can be easily integrated into your mobile app and used right away. It also offers an easy payment system, meaning you can make a payment in just a few clicks.

Stripe

Another great payment gateway provider whose services you may want to use is Stripe. It offers a secure payment gateway through which you will be able to quickly receive funds transferred to you. Companies and individual business owners can also easily create and integrate this gateway into apps. One of the notable advantages of using this gateway is that apart from popular electronic payments Stripe accepts cryptocurrencies as payment, which allows for more flexibility and convenience. Stripe supports many programming languages and boasts an easy-to-use API, which has made it a favorite among developers. What’s more, Stripe enables users to transfer your credit card details to other payment gateway. It also boasts support for such popular online payment systems as Google Pay, Apple Pay, and recurring payment.

Final Thoughts

When choosing your payment gateway to integrate into your mobile solution, you need to consider a number of factors, including interface customization, the market your company is going to operate in, availability of online fraud detection and prevention software, extra features you want to implement in your app, etc. Not to get lost in a world of payment gateway integrations, make sure to enlist a reliable fintech software development company that can do the job for you and help you take your business to the next level.

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