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How To Integrate Payment Gateway in Mobile Applications?

Posted on March 26, 2019 | by dpgadmin | 2 Comments

Life has become simpler with the use of cashless payment methods like debit cards or credit cards, these tiny cards allow us to spend enormous amounts without any struggle and thus have become an addictive process. Being a convenient method, it has now moved to mobile apps and websites concurring the entire online business. Without a doubt, mobile phones are the leading edge of technology in this revolution. Customers find it handy to shop from mobile thus having a mobile app for your business can help increase revenue. If you want to have a mobile application involving payment operations and you know nothing about payment gateway then you are at the right place, continue reading till the end to find out what is a payment gateway. In this blog, we talk about what is a payment gateway and how it can be integrated into your mobile application.

What is a Payment gateway?

Well, payment gateway services are the only way in which you can accept payments through a website or mobile application. They act as a bridge between the transaction that the customer wants to make and the payment processor. The app cannot directly connect to payment processors for security reasons thus payment gateways are required.

How does Payment Gateway work?

Firstly internet connection is required to access the payment gateway service. While proceeding with the payment you need to choose the payment mode like Credit/Debit card and fill in the details.

Once you finish filling up the details the data is sent to the payment gateway system which then transfers the data to a bank associated with a card. Bank creates requests with payment systems like visa or master card depending on the card used. These payment systems check if the customer has the required amount on balance to pay for the purchase, if yes the bank directly connects with the merchant and the amount is transferred to the merchant’s account within several days

What are the things to consider before Integrating Payment Gateway?

Merchant account: A merchant account is a must for a seller as it temporarily holds the amount received from the sales in the app and then transfers it to the regular bank account. If a payment gateway is integrated into the application then the provider will first verify the transaction and send it to the merchant account. There are two types of merchant accounts.

Dedicated Merchant Account.
Aggregate Merchant Account.

A dedicated Merchant Account is custom-made for business transactions, it is suitable for individual business owners or merchants. But implementation of a dedicated merchant account requires an additional expenditure which causes difficulties for someone tight on budget.

A user can easily manage funds and expenses but the disadvantage is that it takes a longer time for the purchase process and does a deep inspection of the credit check.

Aggregated Merchant Account is where all the money from other businesses is stored altogether like a bank which is shared among several people. To connect with an aggregate merchant account you need to provide so information about your company and the type of product you intend to sell. The process is far less complicated compared to a dedicated merchant account. The disadvantage is that it gives less control over how long it takes to get your money.

Ease of Payment Gateway Integration: The process of integrating the payment gateway has to be simple which is possible if the developer SDK is simple and takes minimum developer time for integration and the updates are easily handled by the merchant.

The SDK must be light to ensure it occupies minimum space in the user’s mobile.

User-friendly UI: User Interface of the online payment gateway must complement the overall brand language. UI must be such that customers can make a transaction without any conflict. The bank pages should be mobile-friendly. There should be the least number of steps for completing a transaction.
Payment Analytics: Analytics helps to figure out actual problems, this helps to optimize the payment experience in the app. There are several aspects of online payment such as payment failure, Double payment, refund, and more. Analytics helps to identify all of them and thus should be considered while integrating a payment gateway in the app.
Customer Support: Customer Support helps in addressing issues related to payment integration and post-integration. Merchant overlooks for customer support, A payment gateway should provide an effective solution to all payment-related queries. For instance, the best payment integration service providers offer customer support for all payment-related queries and ensure that they are resolved in the shortest possible time.
Payment Receipt: After every transaction, the customer must receive a confirmation mail regarding the transaction, this helps in building customer trust. The payment gateway has direct access to transaction status and thus status should be shared with the customer. Payment receipt helps in building brand engagement for the merchant.
Features and Plugins: All the payment gateways have different features and plugins which differentiate them from each other. These features help in optimizing the payment experience to provide a better payment interface for customers. Card saving is one of the features where customers’ card details are saved for future purchases. Another feature is auto OPT reading wherein customers need not have to type in the OPT manually the payment gateway automatically reads the OTP from user’s mobile thus reducing the chance of manual error.

When it comes to choosing a payment gateway for your mobile app, consider all the factors from customer support, and analytics to features, and choose the one that is closest to your business needs.

Digital Payment Guru is a team of payment gateway experts having years of experience of years with several banking institutions. Our target is to bring all MSMEs online by implementing the best digital payment gateway integration system and providing world-class experiences that are easier, quick, secure & affordable, thus generating innovative opportunities & sustainable living. We assume every business design deserves to be on the Internet to flourish.

Technology Trends Impacting Small Business Payments

Posted on March 25, 2019 | by dpgadmin | Leave a Comment

The rise of affordable and innovative small business payment solutions has surfaced the playing field between small companies and large corporations.

Instead of having to spend lots of money on solutions that are regularly needing to be upgraded, payment innovation has given enterprises of all sizes access to the latest technology and the same processing charges as the biggest players in the marketplace.

With that being said, many small business owners are convinced to use old payment systems and outdated technology. If you aspire to break out of the status quo and embrace the future of tech.

Here are five payment trends you might want to consider:

Mobile POS

Mobile, mobile…mobile. We’re stressing this one because this trend is here to stick — in considerable part due to its ever-evolving possibilities. From mobile payment apps and integrated mobile payments to mobile POS terminals, small firms can get quite a bit of bang for their buck by implementing a mobile payments strategy.

To begin, mobile credit card processing is a way for small businesses to worry less about where they’re physically conducting business, and concentrate entirely on what type of payment experience they’re providing their customers. This includes features like the capability to text/email receipts and the opportunity to integrate better, faster, and more secure payments.

Beyond the convenience perks, mobile POS solutions provide enhanced safety measures to fully protect your business and your customer’s data. Eventually, mobile payments give you that extra peace of mind.

Digital Payments

Speaking of mobile, the next trend prolongs to the other side of the payment innovation equation: Digital payments. Customers today are catching onto the latest payment trends, and many have started ditching the need to pull out a credit card for every purchase. Digital payment methods have enabled quicker, more secure payment processing that streamlines the online shopping journey.

Various big businesses caught onto digital payments years ago. Small businesses need to follow suit if they want to find a competitive and stay ahead of what customers are expecting now. From in-app payments, one-click payment buttons, and P2P payments, small businesses have a number of opportunities to take benefit of in order to better tailor their payment options for their customers.

As credit card crimes continue to dominate news headlines, consumers are looking toward businesses that rely on better payment technology. Obtaining this can be done using digital payment terminals that offer end-to-end encryption and tokenization. Digital payment methods extend the same security benefits, while also granting cardless ways to pay for products and services. For consumers who don’t want to grab that credit card each time they make a purchase, integrating digital payment methods is a surefire way to fill that gap.

APIs

Fortunately, with easier and more efficient integration options now in the market, SMBs can – and should – take full advantage of the power of APIs. Today, there are solutions that make receiving in-app and online payments easier than ever before.

Toolkits, drop-in code, and readily available tech support — like that provided by Digital Payment Guru — is the type of technology that small businesses should be harnessing today. Payment processing services shouldn’t be confined to what offerings your financial institution can provide to your business.

The API trend and recent innovation have encouraged small businesses to integrate more dynamic payment processing features across all of their channels. This technology transformation has also helped businesses connect their in-store and online software so that each system is in sync with the other.

Automation

Another key trend that companies should take advantage of is the ability to automate services — including payments. From recurring billing to subscription services, small companies can find tons of undiscovered value by leveraging automation to streamline payment processing.

Automation can also help businesses rightly connect with their customers. Having the ability to constantly communicate with your customer base is one of the best ways a small business can stay top of mind. Consumers aren’t always going to remember to come back to your physical or online storefronts — you’ll need to nudge them with reminders. Frequent communication can be automated to help you reach customers without investing heavily in mass advertising platforms.

On the payment processing side, manufacturers that already leverage recurring billing services have learned the power of automated payments. Not only does this help keep consistent revenue flowing into your business, but it can also help keep your best customers loyal to your brand. Consumers are eager to regularly engage with their favorite brands, products, and services, but often forget to do so. Solve that by taking the hassle out of the process and offering your consumers a way to become a subscriber. They remain connected to your brand, and you constantly get paid. That’s a payment tech trend that’s absolutely here to stay.

A few essential tips for choosing an online payment will help you avoid the trend affecting your business.

To know if your payment is secure on the internet click here.

Digital Payment Gateway for Successful E-Commerce Business

Posted on March 25, 2019 | by dpgadmin | 1 Comment

When you pay a business using an electronic medium, it’s called an online digital payment gateway and the application that carries out this process is termed digital payment gateway integration.

The increasing use of Internet-based banking and shopping has seen the growth of multiple e-commerce payment systems and technology has evolved to enhance, improve and provide secure and safe e-payment transactions.

Paperless e-commerce digital payments have revolutionized payment processing by reducing paperwork, transaction costs, and personnel cost. Also, there are many options available in the market offering companies a cheap payment gateway. These digital payment systems are user-friendly and utilize less time than manual processing and assist businesses to extend their market reach.

The best Digital Payment Methods of e-commerce in use today are:

Credit Card

The most famous and common method of payment for e-commerce transactions is through credit cards. It is very easy to use and the customer has to simply enter their credit card number and expiry date mentioned, on a small plastic card with a unique number attached to an account, in the appropriate field on the merchant’s website. To increase the security system, improved security measures, such as the use of a card verification number (CVN), have been included in online credit card payments. The CVN method helps identify fraud or cheating by matching the CVN number with the credit card holder’s details. When a shopper purchases a product or service via credit card, the credit card issuer bank pays on behalf of the buyer and the shopper has a certain time period after which he can pay the credit card bill which usually has a monthly payment cycle.

Debit Card

Debit cards are the second-highest e-commerce payment method in India. Shoppers who want to pay online within their budgetary limits prefer to pay using their Debit cards. A debit card, just like a credit card, is a small plastic card with a unique number linked with the bank account number.

With the debit card, consumers can only pay for obtained goods with the money that is already there in their bank account as opposed to the credit card where the outlay that the buyer spends is charged to him and payments are done at the end of the billing time. This is the principal difference between debit and credit cards is that the amount gets deducted from the card’s bank account directly and there should be adequate balance in the bank account for the transaction to get completed; whereas, in the case of a credit card purchase, there is no such requirement.

Smart Card

It is a plastic card fixed with a microprocessor that has the consumer’s personal details saved in it and can be loaded with funds to perform online transactions and instant payment of bills. The funds that are loaded in the smart card decrease as per the usage by the shopper and should be reloaded from his bank account. The smart card is again similar to a credit card or a debit card in looks, but it has a tiny microprocessor chip installed in it. It has the capacity to save a customer’s work and personal details. It is best when traveling to foreign countries for leisure or business trips. They are accessed using a PIN that every customer is assigned. Smart cards are secure, as they store data in an encrypted form and are less expensive. Smart cards can only be Smart cards are secure, as they store information in an encrypted format and are less expensive/provides faster processing.

To know how to choose the right payment solution for E-commerce click here.

Benefits Of Payment Gateway Integration For Businesses.

Posted on March 20, 2019 | by dpgadmin | Leave a Comment

In today’s fast-paced digital age, businesses of all sizes and industries are looking for ways to streamline their payment processes and improve the customer experience. One solution that has become increasingly popular is payment gateway integration.

A payment gateway is an online service that allows businesses to securely process credit cards, debit cards, and other forms of electronic payments. By integrating a payment gateway into their website or mobile app, businesses can offer their customers a seamless and convenient payment experience while also reducing the risk of fraud and chargebacks.

Benefits of Payment Gateway Integration to Businesses

Increased Speed and Convenience

Online Payment facility with payment gateway integration is very convenient as compared to traditional payment methods such as cash or cheque. As you can pay for goods or services online at any time of day or night, from any part of the world, your buyers don’t have to waste time waiting in a queue, till their turn comes to buy. Nor do they have to expect a cheque to clear the bank so they can obtain the funds they want to shop. Online payment also overcomes the security risks that occur with managing cash money.

Increased Sales

As internet banking and shopping grow widespread, the number of people making cash payments is decreasing. According to Bankrate, more than two-thirds of consumers carry less than Rs.3000/- a day, meaning electronic alternatives are increasingly becoming the preferred payment option. As such, online payment empowers businesses to perform sales to the buyers who choose to pay online and gain a competing power above those that only allow traditional ways like cheques or cash.

Reduced Transaction Costs

While there are no extra charges for doing a cash payment, trips to the shops or stores typically fetch money, and cheques also require postage. On the other hand, there are normally no fees – or very little ones – to swipe your card or pay online. In the long run, online payment could protect both individuals and businesses by hundreds to thousands of Rupees in transaction fees.

A Bigger Reach

Taking Payment Gateway Integration gives your company some reach. Even if you’re originally a local business, accepting payments online can attract people in the area who would rather pay online, and those buyers who have learned about your business through social media or word of mouth and would transact with your business, but live too far away for it to be comfortable. Even companies that offer perishable food have obtained ways to export their business to consumers all over the country. Companies that make niche products may start to see a huge gain in popularity in specific places across India and beyond. You never know where a trend is going to begin, and staying there to fulfill the demand from across the nation could be the way to the success you’ve been waiting for.

Author: dpgadmin