Thursday, June 1, 2023

Integrating payment gateways in e-commerce apps

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Businesses have recently experienced a significant shift away from desktop computers and towards mobile devices, which has compelled them to create applications with integrated payment gateways already built in. However, there are several particular difficulties that mobile apps must overcome when it comes to payments. 

Nowadays, a growing number of individuals choose to shop online from the convenience of their homes rather than go on time-consuming physical shopping trips. This is a reasonable convenience and advantage of modern living. A poor payment experience may cost you consumers and undermine your business. Because of this, it’s crucial to get the app experience right, especially in terms of payments. 

What is a payment gateway?

The person who grants payment permission is a service provider. It is software that links a website with a bank so that clients may make payments to you on the spot without ever leaving their apartment. On behalf of the merchant, a payment gateway solution authorizes and processes credit card payments.

Anyone can utilize this kind of service, including internet retailers, other providers that want their customers to make payments online, and even non-profit organizations that take donations online.

Why would businesses require a payment gateway?

The benefits of including payment functionality in e-commerce apps are numerous. There are several additional reasons, in addition to the market expansion, why you might want to think about adding a payment gateway into your e-commerce app.

Simplify the payment process for consumers

Customers can pay you faster if you integrate a payment gateway into your e-commerce app. This allows them to continue using the software without needing to do so, which improves user experience.

Moreover, clients are more likely to finish a transaction if they are spared the inconvenience of entering their payment details into an e-commerce website.

Gives you safer checkout options

The good news is that payment APIs come with improved security and fraud protection capabilities, which is helpful for both retailers and customers. This is because the host, not the merchant, is in charge of storing customer and payment information.

Supports multiple types of transactions

Not only do certain APIs accept standard credit card payments, but also a variety of other transaction kinds. Since more and more people are choosing alternative payment methods, doing so can increase your clientele and please your existing clientele, who will be grateful that their chosen payment options are offered.

Helps in good branding

You can manage the payment process and ensure that it adheres to your brand when you incorporate a payment gateway into your e-commerce app. However, a poor payment experience might hurt your image and cost you, clients.

Increases the chances of repeated customer

Customers are more likely to return to you for future transactions when you make it simpler for them to pay. You may simplify the payment process and improve client convenience by incorporating a payment gateway into your web application. Consequently, there will be an increase in repeat business.

How to integrate payment gateways in e-commerce apps?

Here is the step-by-step guide on integrating the payment gateway in e-commerce apps.

  1. Create a merchant account 

The company that handles your credit/debit card transactions, your payment processor, is where you must open a merchant account. Your payment processor and payment gateway provider should ideally be the same business. You may do this to handle everything from a single system.

  1. Set up an account with the payment gateway provider

The gateway provider could also serve as your payment processor. You must configure your account’s settings and link it to your merchant account.

  1. Acquire API credentials

Application Programming Interface is referred to as API. The payment gateway will interface with your app to complete transactions using the payment gateway API.

You must obtain API credentials from the supplier of the payment gateway before you can begin. To avoid processing actual money while developing and testing, this typically entails first creating a test account.

  1. Set up the payment gateway

Configuring the payment gateway comes next. In doing so, you must define the payment methods you wish to take, such as debit and credit cards, as well as any other features you choose, including regular billing or fraud detection tools.

  1. Include the payment service in your application.

The vendor of your payment gateway will offer you the required documentation and code samples to get you going.

The code that will handle delivering transaction information to the payment gateway and getting confirmation back must be included in your app.

  1. Launch your application after integrating the payment gateway.

You are prepared to launch the app payment gateway integration after testing is complete and you are certain that everything is functioning as it should.

Choosing the right payment gateway 

Determine your needs.

To start, you must comprehend your needs. What kind of company do you run? Do you market services, physical products, or digital products? Would you need to accommodate different currencies? Are you in need of ongoing billing? What programming languages and app frameworks do the gateway need to be compatible with? You may begin comparing suppliers after you are aware of the qualities you want.

Knowing the expenses

Next, consider the costs. In addition to setup fees and transaction fees, some payment gateways also impose yearly or monthly fees. To determine which service is the most economical, you should examine its overall costs.

Analyze how the user experience is

Think about how the user is treated. The payment gateway services you use should provide a simple payment process and a quick checkout for your consumers. You should find it simple to monitor your payments and keep track of conversions.

Concluding words

Intelikart is the best option if you want to integrate a payment gateway seamlessly into your e-commerce apps. To make the process of creating, testing, and launching your app simple, Intelikart provides a full range of tools. This platform provides a variety of tools and technology that help modern company owners, MSMEs, and small firms run their e-commerce operations smoothly.

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