How To Integrate Payment Gateway in a Mobile App
These days everything has gone online from booking holidays to ordering food. Without doubts, mobile phones have acquired the first place in the e-revolution. People have stopped going to the shops to buy stuff, they rather shop online and save a lot of time and conveyance money. Gadgets have created a lot of internet disruptions.
Know How To Integrate Payment Gateway in a Mobile App
These days mobiles have become the first thing to be accepted among businesses, thus it has made mobile apps very impactful and prominent. Mobile apps are reaching every business today, be it a product or service. You name it and there is an app made for that business in the very first place. A building of applications has made payments much easier for the consumer. Businesses like crick-mortar have also integrated mobile apps with payment gateways to make payments effortless. Since apps have become a vital part of every business these days, it is important to make sure that the apps deliver an optimized and smooth payment experience. There are a lot of things that have to be considered while you integrate payment gateway in mobile apps like, the user interface, fraud protection, credentials etc.
How Do Payment Gateways work for Mobile Applications?
To use an app, it is necessary to have an internet connection to make payments by any gateway. Making an online payment will require you to enter your bank details in the appropriate sections, while the user expects that the process will be done within seconds (with the aid of good internet connection). The data that is collected is saved and is sent to the gateway directly. Further, the information is transferred to the respective bank to which the user’s card belongs. Further, the bank validates the payment solution i.e. Visa, MasterCard etc., and evaluates the financial ability of the cardholder and matches it with the purchase he has made. The time when a transaction is sanctioned, the bank sends an authorization code to the seller. In the end, the specified amount is deducted from the card holder’s account and transferred to the seller within a few business days.
Different Kinds of Merchant Accounts
There are two types of merchant accounts that are offered by the payment processors:
- Aggregated Merchant Account
- Dedicated Merchant Account
The Aggregate Merchant Account
This is a type of account that can store all the funds in one place along with the other people’s funds. This type of account is used more as compared to the other type and is recommended in businesses.
Even the giants in this field like PayPal, Braintree and Stripe etc. are offering this type of payments only. This type of account requires your information to make the payment process easier. This type of account has a fast procurement process for an easy flow.
The Dedicated Merchant Account
This type of account is customized for a particular business, which is meant for an individual business merchant or owner. To implement this kind of account, it is needed that the merchant has to pull out some extra money from his pockets. The charges for this kind of service will differ among different providers. However, the expenses of the charges are entirely in the hands of the owner. This entire process will take a long time and involves a deeper credit check.
Direct Credit Card Integration or Using API’s
There are so many choices given to the customers to shop with their credit or debit card using the API of the apps for making the transactions. It seems easy but in reality, it is not. It will take time and is a difficult job to implement all of that.
A disadvantage of this complete process will be that you have to take the entire company’s responsibility to keep the transactions safe and secure, while you integrate the entire API. in case of any fraud or fake dealings, you will the one to be held responsible for such mishandlings.
There is a lot more in the list yet. Once a business enters this process, there may be issues that the company may face like restrictions while paying through particular gateways or any process of tokenization not being accepted. The reason behind it could be lack of funding a suitable and authentic ambience.
Implementing the Payment Card Industry or PCI’s
There is a safer option for the users if they don’t want to go with the API. PCI (Payment Card Industry) is a safer option and is highly secure that Braintree, Stripe etc. use PCI for payments.
It has some features that benefit the user which are comprehensive native solutions and also an updated library for Android as well as iOS. The data is safe because it uses complete encryption of the data. For this, the businesses have to go face some additional charges of 2.9% for all types of cards.
Integrating SDK in an App
In order to ease the payment gateway process for the buying, selling and transferring cash, the entire app architecture complicates. In order to uncomplicate this, the payment gateway provider helps the developers in providing the required SDK that lets them connect with the current application functionality.
These SDKs have mobile platform libraries that can be easily downloaded from their official websites that each supplier has. The process of supporting and maintaining the software becomes a lot easier and effortless in this process. This in return helps in carrying out the transactions very well. Also, if a consumer uses these libraries then there is no need for him to buy a PCI certificate.
The user will have to deal with the different payment gateways of all the mobile operating systems like Google Wallet for Android or Apple Pay for iOS if the mobile app deals in selling or lending digital merchandise. Before choosing any payment gateway, you need to go through every aspect of the whole process and apply the best practice that suits your business so that your customers will be happy in spending money on your product or service.
