Secrets of Successful Payment Gateway Integration in Mobile Application

by Sahil Verma SIFIPAY

With technological advancements, payment methods have changed dramatically. Mobile payments have now taken centre stage. They make purchasing faster and easier, allowing users to save time while having a pleasant shopping experience.

Because many people prefer to shop online, mobile payment gateway integration provides a significant competitive advantage to businesses of all types, including retail stores, e-commerce stores, travel agencies, and many others. Do you want to learn how and why you should incorporate an online payment gateway into your app to increase user engagement? If so, keep reading to learn about the key considerations, benefits, and how to get started. We have the answers!

Did you know?

According to a recent Research and Markets report, the payment gateway market is expected to reach $42.9 billion by 2025, at a whopping CAGR of 16.43%.

That's a lot of information to take in, isn't it?

What is Payment Gateway Integration?

A payment gateway is a service that performs electronic transactions in order to receive or transfer money from the end customer's account to the merchant's account. It is used to authorise payments. The best payment gateway India integration in a mobile app (iOS or Android) allows businesses to accept payments more easily and quickly. It acts as an intermediary portal, facilitating successful transaction flow by utilising security protocols and industry-standard encryption to safely manage and transfer transaction data.

How Payment Gateway Integration Works?

Step 1:

The order is placed by the customer by submitting their preferences and clicking the "Buy now" button or equivalent options.

Step 2:

The online store directs the customer to a payment gateway where they enter all of the necessary bank or card information.

Step 3:

The gateway is beneficial:

  • Send the transaction data to the acquiring bank (the acquirer or merchant bank is a commercial lending and investment institution).

  • Identifies the credit card company (MasterCard, Discover, Visa, or American Express)

  • The transaction information is routed to the appropriate payment switch.

Step 4.1:

To ensure the transaction's authenticity, the issuer bank (a financial institution that issues credit and debit cards to customers) employs fraud detection procedures. It confirms whether the buyer has sufficient credit in their account to complete the transaction.

Step 4.2:

The issuer bank either accepts or rejects the payment request and sends this information back to the payment gateway and merchant bank via the credit card network. The response code aids in communicating the cause of a failed transaction, such as insufficient funds, among other things.

The customer receives a confirmation as a message via a payment system interface of the order being placed before they even realise it – within a fraction of a second. What do you think?

Benefits of Payment Gateway Integration

Let's take a look at some of the reasons why and how using integrated payments can give your business a competitive advantage.

Easy and Quick Checkouts

With only a few clicks, customers can complete their purchases in a much more convenient and time-efficient manner.

Increased flexibility to pay at any time and from any location

Secure Transactions

Payment gateways use industry-standard encryption and data protection in accordance with the Payment Card Industry Data Security Standard (PCI DSS), protecting both merchants and customers from fraud.

Improved data security increases customer satisfaction and reduces hassles in online transactions.

Global Reach

The integration of an online payment gateway allows organisations all over the world to gain access to business and manage global transactions.

It has multi-currency and multi-language functionality, as well as supplementary cross-border fees, local regulations, and foreign exchange charges.

24/7 Access Convenience

Integrating a business with a payment gateway allows for 24 hour access to a business offering – at any time of day or night, regardless of the consumer's location or time difference.

How to Integrate Payment Gateway to iOS & Android App?

Here's a step-by-step guide you might find useful if you're not sure where to start or how long it will take to get your payment integration working.

Step 1:

Choose the type of Payment Getaway you want and plan the integration process: Determine which payment gateway would best suit the needs based on the size of the business, industry, and country targeted.

Step 2:

Add Client Tokens: When the server sends a request from your app, you must obtain a client token. It is best practise to generate a new token with each app launch. It contains all of the authorization and configuration details required for the client to initialise the SDK. This is accomplished by utilising a variety of programming languages and frameworks, such as JavaScript, React, Java,.NET, PHP, Python, and Ruby on Rails.

Step 3:

Testing: Here, software testers validate the payment gateway integration's functionality using credentials such as the merchant ID, public and private keys.

Step 4:

Security certifications: It is critical to consider installing additional PCI-DSS-compliant certifications to increase the level of security. Furthermore, the Secure Sockets Layer (SSL) ensures the security of sensitive information for both clients and merchants.

Step 5:

Payment Processing: When processing a transaction, the server must be configured with a one-time payment method. The client sends card information to the gateways, which forwards it to the server, which uses the data to initiate the transaction.

Final Words

A quick, secure, and efficient payment gateway aids in streamlining online business in order to achieve the desired goals and objectives. The process of integrating such gateways contributes significantly to the improvement of business processes.

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About Sahil Verma Advanced   SIFIPAY

16 connections, 0 recommendations, 164 honor points.
Joined APSense since, August 27th, 2021, From Ghaziabad, India.

Created on May 24th 2022 07:39. Viewed 230 times.


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