Payment Gateway Integration into Mobile App

Popular Payment Gateway

Whether you are a business wanting to sell online or a developer wanting to develop a paying mobile or web application, knowledge about payment gateway is critical. The payment gateway you choose will affects your sales directly, so be careful and choose the right one.

Popular Payment Gateway

Popular Payment Gateway

WHAT IS PAYMENT GATEWAY?

In E-Commerce market, sometimes it’s hard to know whether buyer’s credit card is trustworthy. With such vague environment, fraud frequently happens in online trading. In order to protect the seller’s interest, payment gateway is designed to check the validation of your customer’s information, ensure that they have appropriate amount of money to pay for your products/services.

Payment Gateway operates in the same way with the POS machine used in supermarkets or stores. The only different thing is, it serves online transactions.

PAYMENT GATEWAY FOR MOBILE APPS

There is a slight difference in case of mobile application: you would need a merchant account in between. This is where your money stays after going through the authorization check from the payment gateway, and before being moved to your bank account. Merchant account is an essential part of the process. So don’t forget it.

Payment Gateway

HOW IT WORKS

The mobile app payment process is as follows: after choosing a favorite product/service, customers will move it to a cart, which is linked to a payment gateway. In this payment gateway, a card processor will receive the request and approve your payment. The payment information will be transferred to the merchant account then. As being above mentioned, it will stays here for several days before being sent to our your actual bank account.

THINGS YOU NEED TO CONSIDER BEFORE CHOOSING A PAYMENT GATEWAY PROVIDER

There are 4 important points to consider when choosing a payment gateway provider, which are: pricing model, customer support, card types, and recurring billing.

Pricing Model

The way that payment gateway provider charges you directly affects your income, as they automatically deducts a particular amount of your transaction. Pricing Model is surely an essential criteria to carefully consider. There will be some gateways that require you a small charge when processing your payment. Three common pricing methods are: a fixed fee per transaction, a predetermined percentage from each purchase and monthly fee.

Customer Support

Seems unreasonable, but customer support is worth considering as one of the most important factors. Payment gateway providers with poor service reputation are usually famous for bad relationship with merchants. Providers can unexpectedly limit your account, leave your payment unable to process without any appropriate reason. There have already been several payment gateways mentioned in merchants’ blacklist for this. If you don’t want your account to be killed all of a sudden, take customer support seriously.

Card types

Not all payment gateways accept the same kinds of debit/credit card. Besides this, some of them even require to link their bank accounts rather than submitting a card.

Recurring Billing

Recurring billing is a feature that allow you to create a payment that recurs over a specific time period. It becomes more helpful in case of charging your customer on a monthly or yearly basis. With a payment gateway that supports recurring billing, you don’t have to worry about performing this action manually. Subscription-based companies or nonprofits who have repeated donors may need this feature.

savvycom-payment-gateway-mobile-app

POPULAR PAYMENT GATEWAYS

Here are 5 most popular payment gateways that support apptransaction:

Paypal is obviously the most famous. It has provided mobile payment services for several years. If you are a new-comer to the e-commerce market, PayPal would be a wise choice as there are many supporting features for new users. You will be given a merchant accounts and allowed to sells goods with small fees: 2.9% + 30c per purchase. It evolves continuously now.

Braintree – a Paypal’s subsidiary. It has fraud protection feature, payouts in 2 days and awesome customer support. Braintree has appeared in 40 countries and supports 130 currencies. It supports payment on Android and iOS platform (and Apple Pay, of course!). Braintree will not charge you for your first USD 50,000 earned. However, when your income exceed the amount, you will be charged 2.9% and 30 cent per purchase. JIO Health – a healthcare management mobile app and Uber – an online transportation networks are examples how Braintree has maximized user experience with excellent services.

Payment Gateway for Mobile

Stripe – a reliable gateway solution. Stripe has authorization, checkout features for mobile, desktop, analytics,…. and many more. Stripe and Braintree are pretty similar, however, Stripe.js is Stripe’s unique feature. It is web development’s safety transmission standard of the company.

Dwolla – a new comer in payment gateway market – is the US-only e-commerce company that provide mobile application payment and online payment service. Dwolla has an exceptionally flexible pricing model: Goods with price that is lower than $10 will not be charge transaction fees. But for good with higher price, Dwolla will require you to pay $0.25 per purchase.

It has the ability to pay, invoice thousands of people at once. Dwolla is perfectly suitable for large dollar transactions or transaction types that are not supported by other payment providers (e.g., Bitcoin)

Authorize.NET is properly one of the most popular gateway systems. It provides gateway software for mobile operating systems and websites. Authorize.NET has a lot of features, such as: fraud detection, recurring billing, information management and tokenization technologies with its PCI DSS compliance.

Crave-SavvycomCrave -is a business ecosystem that seamlessly connects merchants and consumers, that is intergrated with Authorize.NET payment gateway

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Payment Gateway Integration into Mobile App at: August 29th, 2017 by admin