What is Mobile App Payment Gateway Integration?

Customers like the simplicity of paying with just a click. Therefore in-app payment options with payment gateway services are becoming more and more popular. However, many people need to learn the technical aspects of payment gateways and how to integrate them into an app.

What is Mobile App Payment Gateway Integration?

Over the past ten years, businesses have become more mobile, and mCommerce, a brand-new industry developed by leading software companies, provides problems and potential answers for software developers. Mobile business owners' main issue in mobile commerce is executing digital transactions openly and securely. Before payment gateway integration in mobile applications into React Native apps, developers must comprehend the fundamentals of payment gateways to add one to a mobile app. 

At Consumer Sketch, India's top mobile application development company can help you with payment gateway integration in mobile applications. Connect with our app devlopers today. 

What is Payment Gateway?

Online transactions are facilitated by mobile payment gateways, which let consumers and sellers pay for goods through applications. These gateways' primary job is to collect, process, encrypt, validate, and send transaction data from customers to merchants. The normal payment procedure entails the user adding an item to their shopping cart, choosing a payment option, and then being forwarded to a gateway website, such as PayPal.

Also read: What is WooCommerce In-Person Payments

The gateway sends the user's information to the bank, verifying the transaction's validity and ensuring the buyer has the funds to cover it. If the verification is successful, the app receives a payment confirmation, and the retailer gets an order confirmation. The merchant notices the funds in their account when the gateway starts a payment settlement. Due to the ease of mobile payments, people are moving away from using actual currency or banknotes.  

Need help with payment gateway integration in mobile applications? Contact developers at Consume Sketch, a reliable mobile application development company. 

Types of Payment Gateway Services

Consider your needs and compare providers to get the one that best suits your business before selecting the payment gateway service provider for your app. For instance, find out if providers allow you to take cryptocurrency payments. Additionally, certain vendors might ban particular business models, including gambling. Compare a provider's performance across several nations; features offered, transaction costs, integrations, adherence to PSD2 and PCI DSS Policies, and customer support before deciding. 

• Stripe

Using built-in developer tools, Stripe enables businesses to produce branded payment screens, unique transaction reports, and invoices. It has technology for automatically detecting fraud and offers round-the-clock customer service. Over 135 currencies and all popular payment methods are accepted by Stripe. Online credit card purchases cost $0.30, while international cards are charged 2.9%. 

• PayPal

Payflow Link and Payflow Pro are two payment gateway alternatives from PayPal that work with popular credit cards, digital wallets, and e-commerce platforms. It is helpful for global expansion because it includes 204 nations and 102 different currencies. PayFlow Pro has a monthly fee of $25, whereas PayFlow Link has a transaction price of $0.10 + 2.90% commission. It has improved security and personalized checkout. 

• Braintree

Braintree accepts major credit cards, electronic wallets, ACH deposits, Venmo, and PayPal through integration with numerous e-commerce platforms, invoicing programs, analytics apps, and plugins. It provides reporting tools, recurring billing, a customer information manager, and developer APIs. Data encryption, payment authentication, session management, and activity tracking are all provided by Braintree. It charges 2.5% + $0.49 + 0.75% for ACH deposits for each transaction. 

• AmazonPay

Users can complete transactions using their Amazon login information with Amazon Pay, a payment gateway service for Amazon vendors. It only accepts widely used credit cards but interfaces with well-known e-commerce systems like Shopify, BigCommerce, and Magento. Although there is no setup fee for Amazon Pay, there is a 2.9% + $0.30 fee for domestic transactions and a 3.9% fee for international ones. 

• Skrill

Compared to other payment gateways, Skrill charges cheaper transaction costs, with certain methods having prices as low as 1%. It can handle international payments at 1.9% per transaction and supports more than 40 different currencies and 100 different payment options, including cryptocurrencies. Twenty well-known eCommerce shopping cart solutions are compatible with Skrill. 

Payment Gateway Integration in Mobile Application

Payment gateway integration to your iOS or Android requires to follow these steps: 

1. Connect to the API and integrate the SDKs. 

2. Apply for a payment security certificate. 

3. Evaluate your information systems and fix any issues. 

4. Undergo an audit by a PCI Security Standards Council company. 

5. Obtain a certificate and begin accepting payments. 

6. Consider making your app PSD2 compliant, which focuses on improving electronic payment security. This makes it easier for customers to access their banking data. 

Cost to Integrate Payment Gateway

The charges of popular payment gateways are as follows:  

Stripe charges 2.9% + 30¢ per successful card charge, with customizable packages for businesses.  

Square charges 2.75% per transaction, 3.5% + 15¢ per in-person payment, with no monthly fees.  

PayPal charges $0.10 per transaction, with no entry fees for businesses or individuals. 

SecurePay charges 1.75% + $0.30 per domestic transaction. 

Payline charges $0.10 per transaction or a $10 monthly fee.  

Authorize.net charges 2.9% + 30¢ per transaction. 

Braintree charges 2.9% + £0.30 for standard merchants. 

Conclusion

Payment gateway integration in mobile applications requires three primary considerations: original business concepts, operating in a particular area, and selecting a mobile platform. Along with elements like functionality, development tasks, and monetization plan, these aspects must also adhere to compliance and norms. For users to have the choice to make payments for goods or services whenever and wherever they choose, selecting the appropriate mobile payment gateway is essential.

Looking for Affordable Mobile App Payment Gateway Integration Services? Request a Free Quote.