How to Integrate Payment Gateway in your Android or iOS Application

One of the numerous technological advancements that have made day-to-day life easier is the advent of mobile applications. These applications run on various mobile devices, ranging from Android to iOS, and each performs a different job. People may now complete tasks on their to-do lists from the comfort of their own homes, offices, or even while traveling. 

Since so many individuals own one these days, the utility of a mobile device has been stretched beyond the normal uses for which they are recognized. As a result, actions such as shopping at one’s leisure have become commonplace. To buy a bag you see online, all you have to do is tap on the purchase icon, and the transaction is halfway completed. 

This is not a one-way process, as these applications require a payment gateway function that enables simple online monetary transactions. A software development kit can be used to create all the necessary functions like payment gateway on applications. This method is already being utilized by many businesses and is quickly becoming a widely adopted strategy. The remainder of this article will show how to integrate a payment gateway into your Android or iOS application.

What is a Payment Gateway?

A payment gateway is a tool used by a vendor to receive payment for an item purchased. It transmits payment information from the customer to the vendor’s bank account. It enables cards using physical card reading devices and other payment methods. After checking transaction data and ensuring that the payment process is successful, the payment gateway gives the vendor access to the funds. 

It is a software program that connects the client and the vendor and facilitates the completion of a commercial transaction without necessary physical contact. Payment gateways include POS terminals in establishments that read credit card information, payment portals like Amazon pay, and digital currency payment gateways like cryptocurrencies.

How Does A Payment Gateway Work?

A payment gateway requires several steps, and they have become as seamless as possible thanks to technological advancements. It entails an agreement on a course of action on the part of each party, both the vendor and the client. An online store’s payment gateway and a physical store’s payment gateway work in distinct ways.

 The process is seamless from the moment the client clicks the purchase icon to the point where the card or card details are submitted to authorize payment and transfer funds to the relevant account. The eventual destination is for the monies to be transferred to the vendor’s account, which the payment gateway is designed to perform.

How to Implement Payment Gateway in Android and iOS Applications

This article is your best bet if you look for processes for integrating payment gateways on Android and iOS applications. These procedures will be stated in an easy-to-understand manner.

Research: When considering the integration of a payment gateway into your app, you should conduct a market analysis and research your target audience before deciding on the type of payment gateway to use. This is also a good time to learn what payment gateways are often used in the area where your application will be used; after you have found one, you will need to see if it fits the product you are selling and determine the payment method. All of these are variables that must be eliminated throughout the study phase.

Client Token: A token is required to represent a cardholder’s information throughout a payment process, so generating a client token on your application is vital, and it facilitates and safeguards the payment authorization procedure.

Testing: This is the stage where payment gateway implementation for applications professionals verifies your payment gateway feature to ensure that it is suitable. These engineers employ a merchant ID for credit card payment processing, which is your business identity number. They also use public keys, shared with your clients, and private keys, which you only use.

 Security Certifications: Payment gateway certifications are necessary for apps, and they must adhere to standard requirements such as PCI DSS compliance. You must also consider the security of data on your application, both yours and the client’s, which requires SSL (Secure Sockets Layer).

Payment Processing:  This is the crucial component of the transaction process that governs the authorization, funding, and transfer of monies to the vendor’s account, as the name implies. When a transaction is being processed, you will be required to configure a one-time payment mechanism on your server.

Types of Merchant Account to Choose

There are merchant accounts that accommodate online transactions and operate as a virtual bank accounts for your company. You can open a merchant account in any banking industry, and the bank will back up your payment gateway connection. There are also various payment gateway outlets such as Google Pay and Paypal to choose from.

These merchant accounts are your most viable options, depending on your market size, product, and target audience:

Dedicated merchant account: A dedicated merchant account is a virtual business account specifically designated for a merchant. It is typically used by vendors who do not want to use a third-party payment gateway. It has strict security and must be checked regularly, and it is fairly expensive.

Aggregate merchant account: An aggregate merchant account is a virtual business account that holds numerous merchants. Because multiple businesses are registered on it, it will take some time for each shop to get payments, but it is quite inexpensive.

Conclusion

When you decide to run a virtual business on a mobile device, you must comply with the requirements of the app store you choose to use, whether it is Google Play store or another app store. You must also obtain security certifications to ensure a smooth payment gateway experience. Check for industry compliance and keep your customers’ best interests in mind. Above all, be certain you are working with a reliable software development firm specializing in the application and payment gateway mode you have chosen.