• Contact Us
TechnicalSquad
  • Technology
    • Web & Internet
    • Mobile
    • Software & Apps
    • Security
    • Gadgets
    • Design
    • Troubleshooting
  • Gaming
    • Sports
  • Business
    • Law
    • Finance
    • Automobile
    • Insurance
  • Marketing
    • Digital Marketing
    • Social Media
  • Education
  • Home Improvement
  • Other
    • Entertainment
    • Health
    • Lifestyle
    • Food & Beverages
    • Fashion
    • Gift
No Result
View All Result
  • Technology
    • Web & Internet
    • Mobile
    • Software & Apps
    • Security
    • Gadgets
    • Design
    • Troubleshooting
  • Gaming
    • Sports
  • Business
    • Law
    • Finance
    • Automobile
    • Insurance
  • Marketing
    • Digital Marketing
    • Social Media
  • Education
  • Home Improvement
  • Other
    • Entertainment
    • Health
    • Lifestyle
    • Food & Beverages
    • Fashion
    • Gift
No Result
View All Result
TechnicalSquad
No Result
View All Result
Home Technology

What are Mobile Payment Gateways? Benefits and Steps to Integration

Helen Smith by Helen Smith
September 14, 2022
in Technology
0
1
SHARES
54
VIEWS
Share on FacebookShare on Twitter

Are you looking to implement mobile payment gateway integration for your business to streamline the user experience? Well, before doing so, you need to first learn about all possible options and how payment gateway for mobile apps works, how to choose the right solution for a seamless mobile payment gateway integration, which cross-platform mobile apps will support them, and many more.

We understand how critical payment processing is to any business. If it wants to generate more sales and target happy customers, it’s important to offer the best buying experience possible. Electronic payments processed through smartphones, smart wearables, or tablets can help with both things.

mobile app development in Chicago

The penetration of smartphones into our daily lives and shifting away from cash have given a boom to effortless, direct, and real-time mobile payments. Millions of customers are appreciating these mobile app capabilities whereas many vendors still have no idea how their tablet or smartphone can replace the cash register, banking terminal, and analytics system for their small business.

With the number of mobile users exceeding billions and people seen spending more time on their smart devices, mobile commerce will continue to grow every year. So, if you’re planning to start your business anytime soon, mobile app development in Chicago, as well as mobile payment gateway integration, seems inevitable.

However, make sure that the mobile payment gateway you implement in your business is easy, smooth, quick, and most importantly safe to use.

Let’s understand more about mobile payments!

What are Mobile Payment Gateways?

Mobile payments can make it easier to accept in-person customer payments. Thanks to their security, speed, and level of convenience any business owner would love to implement the payment gateway for mobile apps.

When the right mobile payment gateway is integrated into your business, the customers can make purchases via Apple or Android smartphones, tablets, or wearable devices through all major credit or debit cards alongside the bank account information.

By 2024, the global mobile payment market size is estimated to cross 3 trillion USD. And almost 70% of millennials around the globe will continue to enjoy discounts and reward offers as incentives for using mobile payment methods.

Looking at these stats, we can see how mobile payment adoption will continue to increase in the coming years.

Let’s check out more benefits of integrating mobile payments into your business.

5 Amazing Perks of Having An Integrated Payment System

Here are the numerous benefits that encourage the widespread adoption of mobile payment gateways.

1. Cost Saving

Opting for mobile payment gateway integration can help you reduce expenses in several ways.

  • The email receipts and creating an online invoice eliminate the use of expensive point of sale (POS) equipment or paper and ink.
  • The only external cost you’ll have to bear to set up is a card reader. Rest, you can easily use your tablet or smartphone as your mobile point of sale terminal.
  • The cloud-based subscription models also usually have low sign-up and monthly maintenance expenses.
  • The alternative to using a card reader could be activate or Create QR Codes for the payment. Then, you can save that external cost as well. You can also generate your own QR code for your business.

2. Maximized Revenues

Adding payment gateways to your mobile app capabilities will provide your customers with more handy and easier ways to transfer money to your account instantly. They can pay as long as they have their mobile on hand and you can get your payments faster than ever.
In short, with integrated payment systems, you increase your chances of getting more money from more customers faster than traditional payment methods.

3. Reward Your Customers

Since you will have your customers’ information stored in your mobile payment apps, you can quickly send them coupons, discounts, or rewards using them.

  • You can offer point loyalty to your customers for each transaction and can put them toward discounts or free products.
  • With the tiered loyalty program, you can help your customers unlock a new tier of reward points or discounts whenever they make a new purchase.

4. Outshine Competition

The better services you offer to your customers, the more likely they will engage. By offering multiple ways for customers to pay via their mobile phones, you can keep yourself ahead of the competition.

When investing in a payment gateway for mobile apps, choose one that can process the following types of frictionless payments –

  • Contactless (or EMV chip) credit cards.
  • Digital payment methods like GPay.
  • QR code payments.

5. Security

Cross-platform mobile apps use an encrypted or protected code to shield customers’ confidential data.

This means that customers’ real card numbers will never be stored on any of your devices. This enables greater security of payments and keeps your liability significantly lower.

How to Do Mobile Payment Gateway Integration for Android and iOS Apps?

Each payment provider will have its own set of software development kits (SDKs) and detailed instructions on how you can add the integration. The general steps for mobile payment gateway integration for Android and iOS will be the same –

  • Step 1 – Integrate Server and Client-Side Software development kits
  • Step 2 – Connect to API
  • Step 3 – Apply for a payment security certificate.

After that, your company will undergo an audit by one of the PCI Security Standards Council companies, passing which, your company will be certified and you can finally start accepting payments online.

Conclusion

Finding a perfect mobile payment gateway integration solution that meets all your needs takes time and effort.

Yet, you must know how to integrate the payment system in your app, where to start, and what your essential first step should be towards safety and security. It’s important for selling goods and completing transactions on a mobile app.

Previous Post

7 Things About Custom Packaging Boxes You Need To Know

Next Post

The Best Way to Shop Daily Essentials – Health & Fitness

Helen Smith

Helen Smith

Helen is a versatile freelance writer for the last 4 years. She holds a Master Degree in Journalism. She loves researching and writing about fashion, travel, and technology. Andrea has a passion to blog about the latest trends and technology.

Next Post
health and fitness essentials

The Best Way to Shop Daily Essentials - Health & Fitness

Android App Development

Latest Android App Development Trends You are Not Aware of

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent News

Indonesia: Where Natural Beauty Meets Exciting Entertainment at MPO777

Indonesia: Where Natural Beauty Meets Exciting Entertainment at MPO777

September 16, 2023
The Ultimate Guide to Choosing the Best Responsive Website Builder

The Ultimate Guide to Choosing the Best Responsive Website Builder

September 12, 2023
Myth Busting Everything About On-demand Multi-Services App Entrepreneurship

Myth Busting Everything About On-demand Multi-Services App Entrepreneurship

September 4, 2023
The Art of Digital Fortification: Stop Losing Your Cloud Data!

The Art of Digital Fortification: Stop Losing Your Cloud Data!

August 28, 2023
How to Celebrate Your Favorite Band: A Fan’s Guide to Unforgettable Homage

How to Celebrate Your Favorite Band: A Fan’s Guide to Unforgettable Homage

August 22, 2023
Building Bonds and Understanding Pregnancy Tests

Building Bonds and Understanding Pregnancy Tests

August 22, 2023
Experiencing Elegance on Exquisite UK Retreats

Experiencing Elegance on Exquisite UK Retreats

August 22, 2023
The Ultimate Guide to Beginning Your Data Science Career

The Ultimate Guide to Beginning Your Data Science Career

August 19, 2023
DIY vs. Professional Fence Repairs: When to Call The Pros and How to Choose an Eco-Friendly Fence

DIY vs. Professional Fence Repairs: When to Call The Pros and How to Choose an Eco-Friendly Fence

August 21, 2023
How to Accessorize at Work

How to Accessorize at Work

August 18, 2023
Top Nodejs Framework in 2023

Top Nodejs Framework in 2023

August 4, 2023
Discovering the Beauty of Karni Mahal Palace

Discovering the Beauty of Karni Mahal Palace

July 27, 2023
UGC Creators and the Power of Niche Communities

UGC Creators and the Power of Niche Communities

July 6, 2023
Understanding Crypto Transaction Fee and How You Can Avoid It

Understanding Crypto Transaction Fee and How You Can Avoid It

June 30, 2023
A Step-By-Step Guide for Developing Custom Software in 2023

A Step-By-Step Guide for Developing Custom Software in 2023

June 27, 2023

About Us

TechnicalSquad.net is a writing platform where we are providing a good digital space to all passionate writers. If you are into technology then share your blogs and articles with us. You can share your ideas, data and endorse as a writer. Create a blog and submit it today.

Email Us

[email protected]

Connect with us

Browse by Category

  • Astrology
  • Automobile
  • Beauty
  • Business
  • Celebrity
  • Cryptocurrency
  • Design
  • Digital Marketing
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Food & Beverages
  • Gadgets
  • Gaming
  • Gift
  • Health
  • Home Improvement
  • Industrial
  • Insurance
  • Job
  • Law
  • Lifestyle
  • Marketing
  • Mobile
  • Other
  • Pet
  • Photography
  • Real Estate
  • Security
  • SEO
  • Shopping
  • Social Media
  • Software & Apps
  • Sports
  • Stock Market
  • Technology
  • Travel
  • Uncategorized
  • Web & Internet
Indonesia: Where Natural Beauty Meets Exciting Entertainment at MPO777

Indonesia: Where Natural Beauty Meets Exciting Entertainment at MPO777

September 16, 2023
The Ultimate Guide to Choosing the Best Responsive Website Builder

The Ultimate Guide to Choosing the Best Responsive Website Builder

September 12, 2023
Myth Busting Everything About On-demand Multi-Services App Entrepreneurship

Myth Busting Everything About On-demand Multi-Services App Entrepreneurship

September 4, 2023
  • Contact Us
  • Troubleshooting

© 2021 - TechnicalSquad

No Result
View All Result
  • Contact Us
  • Home

© 2021 - TechnicalSquad