Almost all modern applications have built-in payment gateways. They allow us to buy new features in games, make purchases online, book hotels and tickets, etc. This is an important feature for any application, and you need to choose the best option. Users need convenience and ease of purchase, and transactions should be carried out as quickly as possible. Today we will analyze all the details of choosing the right payment gateway.
What is it?
In simple, it is software that processes electronic transactions, ensures the security of transfers, and stores confidential information about the buyer and seller. The payment gateway is an online analogue of the terminal with which you can make a payment.
Do your application need a payment gateway? Of course, if monetization is important to you or you are creating an app for sales. Now, most of the traffic and sales come from mobile applications. After all, they provide universal capabilities anywhere, anytime.
The most popular payment systems
The client visits your resource, selects the desired product and enters the data necessary for payment and delivery. This happens in a few seconds. But behind such an easy process lies a lot of work. It is with the help of a specific API that payment from the buyer will go through the bank and come to the seller. Let’s look at popular solutions for card payments.
This is a fast-growing startup based in San Francisco. The service is in demand and operates in 25 countries. Stripe can work with more than 100 currencies, including cryptocurrency. The gateway also supports Apple Pay and Android Pay. Stripe is popular for its integration with social networks. Twitter and Facebook use it for payments. From others, this system is distinguished by its aggressive marketing policy, because its main competitor is PayРal.
This is an e-commerce startup that provides secure payments, as well as protecting the personal data of its customers. The service operates in 30 countries and allows you to make payments in 130 currencies. Security is carried out in such a way that all personal data of buyers is immediately sent to the database of the payment gateway and are unstored on merchants’ servers. Among Braintree clients are OpenTable, a restaurant reservations company in the USA, 37Signals — project management, JBL acoustic systems.
Visa Checkout is an electronic wallet that is suitable for payment from any device: from computer to smartphone. This gives customers complete freedom to pay for goods and services with cards without being tied to the device. The service operates in 27 countries. Currently, Visa Checkout works with more than 1,600 financial institutions and more than 350,000 merchants. Emirates Airline, FIFA, Marriott, Starbucks are customers of the service.
Authorize.net payment system has become the most popular in Canada and the USA. It is distinguished by its reliability due to fraud tracking, tokenization technology and information security. Authorized.net services are more expensive than other payment gateways. Each month you need to pay $ 25, and a commission of 2.9% is charged for each transaction. However, this is a fee for user safety.
Another startup that does not require external terminals or other accessories for working with credit and debit cards. Dwolla is a service that has won over with its innovation and convenience. It works without intermediaries, ATMs, plastic cards, making transfers based on the P2P platform. Dwolla allows conduct transactions on the network instantly and at a price of 25 cents per transaction, or free if a transaction amount is less than $10.
Unique payment gateway PayPal
Now PayPal is one of the most popular payment gateways in the USA. Therefore, we will talk about this in more detail and analyze its capabilities for business applications. PayPal is a financial services provider that allows you to make free money transfers and online purchases. The head office of the company is located in the USA. Why is this solution so unique and popular:
- Opportunities. It works in most online stores. The service allows you to receive and transfer funds, send requests for transfers, withdraw money, and all this in 26 currencies.
- Ease of use. For payment you need only the email and password for the account.
- Speed. Transactions are carried out very quickly.
- The safety of customer data. The seller does not need this data, since the payment will be displayed in his account.
- Sending funds. All you need is the email address of the registered recipient.
Why does your app need a payment gateway integration? Users need complete freedom and choice at every stage of the purchase. If you accept payment via PayPal, this may attract additional customers, including new customers from different countries in which the service is offered.
There is no service that is 100% protected from hacking or bugs. But PayPal is a reputable company with high security and consumer protection. Therefore, its use is quite safe. To protect your information PayPal uses powerful data encryption systems based on SSL technologies. In addition, when sending funds via PayPal, the recipient will not be transferred bank card information. Therefore, users of your application can be sure of data security and that payment will be successful. Using PayPal as an alternative payment method will help sellers to increase customer confidence and the number of goods sold.
Using PayPal can be even safer than specifying a credit card number or bank account information directly on websites and apps. PayPal is one service in which information is stored, not many services and stores in which the user leaves his data.
PayPal is definitely a winner among other APIs for the quality of user support. The payment gateway offers many ways to find support and resolve issues that arose during work:
- Help Center;
- Email support;
- Developer Center: documentation from PayPal;
- Telephone support;
- Large technical support community.
We have listed all the popular systems and now you can choose the best solution for your project. Choosing a payment gateway is based on the preferences of your target audience. After all, the main priorities for you are convenience for the client, ease of operation and speed of payment processing. Therefore, we advise you to start by researching the market and determining the user’s portrait. Then it will be easier for you to make the right and effective decision.