How Do you Choose the Best Mobile Payment Gateway for your App?
Can most of you imagine a day without using smartphones and related mobile apps? Impossible right? A mobile phone has stretched beyond the usage of making calls or sending SMS in the past decade. But the influence of the Covid-19 outbreak has created a new storm in the usage of mobile apps for various purposes. Since people across the globe are adjusted to making frequent online purchases, if you want your business to succeed, it is key to integrate the mobile app with an efficient payment gateway. Hence selecting the best mobile payment gateway for your requirement becomes a crucial aspect of the mobile app development process.
About Mobile Payment Gateway?
A mobile payment gateway is a service that allows and processes mobile app payments. It uses security protocols and encryptions for the secure transaction of payment information. It is the intermediate service for enabling financial operations between customers and businesses. The complete process will be simple and hassle-free as below:
- User/customer will select the desired products and put them in the cart.
- The app will ask the user/customer to checkout.
- Next, it will request them to add payment information.
- Here, the payment gateway will send a request to the respective bank.
- Once the process is completed, the bank completes the transaction.
There has been a rapid change in technicalities and customer needs which has made payment gateways adapt drastically. In the current era, credit card or debit card payments have been replaced by smartphone app payments, especially in online purchases. There will be a slight difference in payment gateway architecture relying on the type of payment concerning in-store or online purchases.
How do you choose the best payment gateway for your mobile app?
The choice of payment gateway is reliant on the below aspects:
User preference for payment methods: It is important to know the preference of the majority of customers before integrating a particular payment gateway into your app since there are payment gateways that support different modes of payment. A significant portion of users feels that they prefer to use the app that offers multiple payment options. If you are a constant mobile user, you may be aware that a popular mobile app will provide maximum payment methods.
Customization of UI with scalable factors: Any kind of app that involves purchases will have a payment page as an integral aspect. Hence, be sure about the design style of the app which should be navigable and friendly to all types of users. If you have a motive of giving the best design to your users, then you have to choose a payment gateway for mobile apps that offers the ability to customize the UI. With this ability, you will get a chance of giving pleasing visuals to the user that will lead to higher conversions. Moreover, if you have a target to grow your business exponentially, payment gateways have to offer more scalable options for the future.
Additional features: Different payment gateways offer different features relying on exclusive business requirements. This could be anything related to recurring or bulk payments, legal aids, bitcoin support, and many others. If your business is spread across international locations, the payment gateway must offer global support by allowing payment support from various nations. You have to ensure that the payment gateway will aid various factors concerning the needs of the customers in your niche. The inclusion of features in your payment gateway is one of the crucial points in succeeding your overall business.
Brand reputation and safety: The brand reputation of a payment gateway firm in the market has a big role to play in deciding the selection. The duration of that company’s service will be a pivotal aspect of its reputation. Check the online reviews of that company’s service with genuine negative feedback and reviews. Regardless of the popularity of any brand, reviews are crucial aspects for you to analyse and decide on the partnership since it involves the financial information of your esteemed customers. With the evolution of technology, there has been an increase in online fraud. Hence, an efficient payment gateway must offer safe processing of information with advanced technologies.
Fees and Service Agreements: There are several aspects related to payment of payment gateways that are considered. Some of the key ones are frequency of transaction, offline or online transactions, sales, profit graph, and kind of market served. It is important to see how the business model matches the fee structure of the payment gateway. Some of the services may need agreements to be set up with specific transaction fees for giving services for the order.
Easy Checkout across multiple devices: Several types of research have depicted that a significant percentage of users go for online purchases using their mobile devices. With the latest trends in the market, it is expected that these figures are surely going to increase longer than earlier. Along with looking at all other options mentioned above, app owners need to focus on checking the checkout experience across multiple mobile devices and types of networks. This forms another impactful aspect of payment gateway selection for your product.
Constant Customer Support: Some payment gateways only provide customer support to specific issues. In other types, users will have to take care of fixing the problem themselves by looking at instructions. This may prove costly in terms of reliable services to the customer. A payment gateway must offer constant support to customers for resolving technical problems at the earliest.
Both users and businesses are stressing the importance of employing a smartphone for the management of electronic payments for all kinds of purchases. If you are looking to integrate a payment gateway in your mobile application, it is key to partner with a reliable & top mobile app development company like Brillmindz. The team is filled with skilled app engineers who will include the best aspects to suit your business motives that will yield profitable results.