Things to Know Before Integrating a Payment Gateway in a Business App

Credit cards have become indispensable to people. With this plastic, they can spend enormous amounts easily. The payment method is so convenient that most mobile apps and websites use it.

Payment gateway services enable purchasing something through mobile apps. It's an intermediary between a customer transaction and the payment processor. What is the need for an intermediary? Straight between apps and payment processors is barred because of security reasons.

Thus, payment gateway solutions are a part of apps that use encryption to guarantee the safe processing of confidential data. They enable mobile app payment processing. They are excellent for companies that.

• want to avoid the responsibility of keeping the confidential data safe
• Have to enable payment options for their apps

An increasing number of individuals are making online purchases and on their mobiles. No wonder, payment integration in mobile apps has become a trend that will rise with time.

Considerations for Payment Gateway Integration in mobile apps

It's essential to know some peculiarities before the integration of credit card payment gateways.

• Sorts of Merchant Accounts to Decide on- People can open a merchant account in banks and integrate payment gateways into it. The banks must support the portal. Another option? People can opt for a credit card payment gateway provider. There are several. They are an all-in-one solution for their customers and support merchant accounts.

Now, two sorts of merchant accounts are present, and people can choose one depending on their requirements.

• Dedicated merchant account- This merchant account is assigned exclusively for business. It's costly and time-consuming. People have to go through several checks, including security checks, for getting this account.

However, this account lets people have excellent control over their finances. People who get this account must pay custom payment processing payment rates that are based on their sales volume: the higher their sale, the lower their fees. Money transfer is fast. People also can control financial operations, including account debiting.

Aggregate merchant account - This merchant account pools the money a business generates with other companies. People who get this account have limited control over their finances. Money transfers could take longer. However, this account is less costly and time-consuming.

• Sorts of products people sell- Products that people sell is an essential consideration for mobile app payment integration.

People who would sell digital content must abide by App Store or play store rules for in-app purchases. Each company offers developers guidelines and proper tools. iOS developers must use a specialized apple framework, and Android developers must use a dedicated API of Google.

People who would sell physical goods must use a mobile payment gateway provider. An online payment gateway connects the apps through specialized APIs.

• Security Certificates

People who will handle customer banking data must be PCI DSS certified. For getting certified, they must go through an intricate verification procedure.

They must first ensure that their information system having the customer credit card details conform to the demands of PCI DSS. They must then address vulnerabilities that pentesters found.

Next, their company is audited by a QSA firm. The firm decides whether to certify a company or not.

Meta: Payment integration in mobile apps has become a common thing. People must be aware of some things before integrating online payment gateway into their business apps.

Grezpay is one of the best online payment gateway providers in India for all your business payment needs.