The on-demand economy has given rise to a new wave of easy applications. Entrepreneurs know that if an existing service can be made available via a mobile application, and ‘on demand’ of the consumer, that they will have the basis for a potential new business.
In this climate, consumer expectations of convenience will naturally elevate, so it is important that applications make paying for goods and services as easy as possible.
This article will examine three of the best payment gateways for eCommerce mobile apps, with a view of accessing the most important features for making a convenient payment process.
The headline message on Authorize.net, is that they have simplified the payment process. The company offers a range of payment solutions that cover a full range of physical and digital sales needs.
A major advantage of using Authorize.net is that you will be able to offer customers a full range of payment options within your application. These include debit and credit cards, PayPal Express, and Apple or Google Pay.
At present, Apple and Google Pay functionality is not offered by most payment gateways. However, if you want to optimise eCommerce conversions within a mobile app, allowing customers to pay with their fingerprint is now a must-have feature.
Implementation of mobile in-app transactions, will require the use of Authorize.Net Accept Mobile SDKs (Software Development Kits). Each payment option requires its own setup, but the documentation is developer-friendly and support includes an error code index, FAQs, forums, Stack Overflow threads, and direct support.
Finally, pricing for Authorize.net starts at $10 per month, plus 10¢ per day, and 10¢ per transaction. Businesses that process more than $500,000 per month will require a custom plan.
Stripe is an industry leader in payment processing. The company work with a number of on-demand, mobile app-based companies that include, Deliveroo, Lyft, Laundrapp, Instacart, and Handy.
Brands such as Asos, Dice, Under Armour and Made, also use Stripe’s Mobile Commerce toolkit.
With Stripe, it is possible to facilitate debit and credit card payments, as well as Apple and Google Pay payments on mobile applications.
A key to the company’s success has been their commitment to creating developer-friendly APIs, making their platform accessible to companies of all sizes. Documentation for iOS and Android integration is also extensive, accessible, and well-illustrated.
Finally, use of the Stripe API is free, with a 2.9% standard charge on transactions.
Klarna goes a step further when it comes to offering customers a convenient payment experience. The checkout options you will be able to offer customers with Klarna include Pay Now, Pay Later, and Slice it.
For customers who opt to slice it, or pay later, Klarna will run a background check. If the customer passes, they will be able to complete the order. The customer will then have 14 or 30 days to pay for what they keep.
Companies such as Asos, Miss Selfridge, JD, and Schuh have now adopted Klarna on their mobile checkouts, which suggests that there is significant conversion value to offering consumers pay later options.
Like Stripe, Klarna provides merchants with a dashboard for tracking sales, and a developer-friendly API.
Finally, while Klarna offers customers the option to pay now, it is worth considering integrating the service alongside other payment gateways, to provide payment options that are widely recognised. PayPal and Apple or Google Pay will also have to be integrated from another source.
The best payment gateways are the ones that customers are happy to use. With Authorize.net, you can provide a full range of payment options to customers from a single API.
Stripe provides perhaps the most developer-friendly API, and there are no monthly fees, but if you use them, you would need to integrate PayPal separately.
Finally, Klarna offers the most convenient payment options to date, with their ‘Slice It’ and ‘Pay Later’ options. However, in most cases, it would be worth integrating the service alongside other payment gateways, to provide potential customers with payment options that are widely recognised.