The most frequent question I get from new e-commerce businesses is “Which Mobile Payment Gateway Should I Use?”
And that’s a really good question. Because I don’t believe there is a ‘one-size-fits-all’. There are certainly some mobile payment gateways that work well for most uses, however app development is really finicky. Especially when you’re talking custom development.
What is a mobile payment gateway?
A mobile payment gateway is a safe and secure way for a mobile user to wire money to your account in exchange of your service/product. In essence, it’s an EFTPOS machine in your mobile/web application to help your users buy your product.
The problem for you is that there are so many to choose from and it’s far too easy to fall into the trap of trying to fit your business model into someone else’s system…
For all of you oddly shaped units who don’t fit into the square box, this post is for you.
In this article I’ve listed a range of the most commonly used mobile payment gateways and compared them by:
Hope this helps you find a mobile payment gateway that fits your requirements.
Arguably the most popular payment gateway in the world, PayPal has been around for a long time. PayPal provides a wide range of options for both personal and enterprise users to facilitate smooth transfer of funds and acquire revenue for sales. It was acquired in 2002 by the popular online auctions and selling company eBay. PayPal is known to be one of the fastest and most secure payment gateways to do business with.
- Support – Services available in over 190 countries, and support for 20 currencies and 5 different card types.
- Versatility – Ability to execute mobile payments, recurring billing and large transaction limit of $10,000 depending on account type.
- Customized nature – Various account types come with a wide array of features for different requirements.
Accounts are free, with PayPal charging 2.9% per transaction, however that percentage drops for accounts with higher volumes. Premium services like Website Payments Pro have a one-time signup payment in the range of $25-$30 plus setup fees.
Specialists in mobile payments, Braintree is a popular full-stack payment gateway solution adopted by a number of reputed mobile companies around the world. Providing simple packages and a comprehensive solution for mobile payments, Braintree is a feature-rich service with great back-end support, available in 40+ countries.
- Ease of fusing with existing setup – Braintree provides an easy-to-use SDK (software development kit) which are a breeze to implement and start working with. Essentially speaking, the easier the SDK is to work with, the less your developer will charge to implement it for you. They provide support for Google Android, Apple iOS and Windows Phone which means that as your business grows.
- Recurring Billing – Braintree provides specific tools to facilitate recurring or subscription-based billing, including the option to get push notifications and creating discounts and promos.
- Security – With every account, Braintree provides high-quality fraud protection services, without levying any additional charge.
2.4% + $0.30 per transaction. In other words, it’s not great for small transactions of $3 or less… But other than that it’s great!
A versatile payment gateway solution, SafeCharge provides a large range of options when it comes to mobile payments. It allows businesses to brand their checkout pages the way they want, while leveraging the simplicity and power of SafeCharge to handle payments.
- Simplicity – SafeCharge can be very easily integrated into any mobile app, whether it’s native or wrapped HTML5. It works well with all major mobile platforms.
- Innovative facets – Payments can be made simply with SafeCharge, which supports one-touch payment for mobile apps. It supports a multitude of currencies and payment methods, and support for subscription-based payments.
- Safety – SafeCharge uses a secured API (communication line to their online service) and encrypts all card information to provide PCI certified security with all their accounts.
Prices are customised to the individual user. In this case you would need to contact the SafeCharge team to work out a price tailored to you.
A feature-rich payment gateway targeted at ecommerce portals, BigCommerce provides premium hosted solutions which cover all the possible needs an ecommerce business might have, including the ability to design and manage a store, configure products and get detailed analytics about user data <– that’s a bit snazzy!
- Complete Solution – BigCommerce provides a comprehensive solution which covers the entire gamut of the ecommerce business, and does not stop at being just a payment gateway. It provides a lot of added elements at no extra cost, and gives customers great value for money.
- SEO Optimized – BigCommerce is designed for good SEO, and their SEO related features make it easy to get organic traffic to your site.
- Third Party Apps – Great support for third party apps enables users to append popular social networking services with the gateway and leverage their reach and scope to reach maximum exposure for products and services.
BigCommerce has a range of different packages available at monthly and annual pricing options. Prices range from $24.95 a month to $299.95 a month depending on which characteristic is opted for. Popular with clients is their Gold plan, priced at $79.95 a month. Don’t let the price scare you off, they offer a great education platform and marketing tools.
The USP of the online micrompayment site PayDuo is its reach – its services are available in more than 30 countries in the world, support for most major local currencies, and accepts cards from all major banks. It provides innovative and useful features like payments through calls and premium SMS messages.
- Flexibility – With fully customizable and scalable APIs, PayDuo can be fitted into any current system of online business seamlessly. Visual themes can be customized as per user requirement, and a wide range of monitoring and forecasting options are available.
- Data Security – PayDuo accounts are kept secure by a number of different safety measures. Transactions are carried out securely, and great importance is placed on maintaining the privacy of customers.
- Innovation – Exciting and innovative features like receiving payments directly from premium phone calls or premium text messages make the process of collecting payments significantly speedier and easier. Their e-wallet service and prepaid cards also make purchasing a breeze.
PayDuo charges per transaction for bank cards (ranging from 1.50 euros to 3.50 euros) and SMS messages (2.0 AUD to 6.60 AUD for PayDuo ‘Plus’ SMS subscription).
An exciting platform for mobile payments, Zooz has already made a name for itself with its clean interfaces, speedy transactions and a clean, simple integration process that does not take much time or effort.
- Time Saver – For both developers and customers, Zooz is a great time saver, as it takes very little time to integrate into a mobile app. For customers, the in-app payment process is simple, and card information is saved for returning customers.
- Customizable – Zooz payment screens are highly optimized, and can have personalized designs to enable companies to incorporate their own branding in checkout pages.
- Evolving – Zooz services constantly evolve based on data generated by customer insights, so there is more chance that most, if not all customers, will be able to complete their transactions successfully.
Zooz offers tailor made pricing solutions for customers as per their specific needs, such as type of goods being sold, currency used, monthly volume and product price range.
A reputed payment gateway which is perfectly scalable to fit any shape or size of business, EziDebit offers many different kinds of services targeted at different kinds of businesses. Payment management is easy and intuitive, and EziDebit offers solid blending with different kinds of software.
- Scalable – EziDebit has a scalable structure of service, which makes it a great payment handler for both small businesses and large-scale portals. It offers payments with direct debit, and payments are processed in real time for maximum transparency.
- Ecommerce compatibility – EziDebit is aligned exclusively for ecommerce businesses, and can be used as a standalone tool or with conjunction with several popular business software packages.
- Secure Integration – API based secure meshing with existing shopping portal setups and a well-managed partnership program offer users a lot of flexibility while incorporating EziDebit in their business. Secure cloud-based payment solutions are also available.
EziDebit decides appropriate pricing for every user according to the particular services provided, and does not have a fixed pricing structure.
Geared towards seamless mobile payments, Salt offers a single medium for bringing mobile and ecommerce markets to a single place and maximizing clarity. It also offers great fusion with mobile app platforms to facilitate in-app purchases smoothly and securely.
- Best of Both Worlds – With the single integration point mobile payment gateway system, users have the option to effectively manage payments from both ecommerce websites and mobile apps at the same place- a convenient and intuitive way to manage payments.
- Shopping Cart – Salt provides users with a securely hosted shopping cart service which is optimized for both web and mobile use, for users who have relatively simple payment needs.
- In-app Purchases – Salt makes it easy to directly integrate payments into mobile apps developed using major mobile app ecosystems, which enable users to make payments without having to leave the app environment.
The pricing is custom based on your requirements which is determined from a one-on-one consultation with a representative from the Salt team.
One of the most popular payment gateways in the world, Shopify provides a fully hosted ecommerce solution, complete with advanced functionalities, payment gateway and around the clock support. With support for custom designs and a CMS-like management interface, Shopify is a comprehensive solution for any scale of ecommerce requirements.
- Look and Feel – Shopify provides a large number of preset themes and styles to choose from, so that users can completely customize the look and feel of their store fronts.
- Features – A fully managed store front with order management, product and category management, customer profiles and a host of other added functions is the high point of Shopify. A secure shopping cart and payment system and shipping management makes it easy to facilitate purchases.
- Social Networks – Shopify makes it easy to use the power of social networking to boost sales, with options to seamlessly merge this with the world’s most popular social networks. There is also an option for enhancing SEO and targeted email marketing.
Shopify does not charge setup fees, and plans range from $14.95 a month to $179.95 a month according to the feature set needed by customers. Their most popular plan is the Professional plan, priced at $89.95 a month. Added highlights like point-of-sale support are available for an additional cost.
JudoPay offers simple and powerful mobile payment gateway services at great prices. The focus is on making mobile easy and speedy, with minimum hassle. The confluence of this gateway with the portal is rapid, easy and effective, and for businesses that are looking to really leverage sales with in-app purchases, JudoPay is one of the best solutions currently in the market.
- Seamless Integration – JudoPay offers APIs and targeted support to make it really easy to combine mobile payment channels with apps in a fast way. The user experience too can be tailored to make users feel at home with the payment process within the app environment. APIs are provided for iOS and Android platforms.
- Simplicity – Mobile payments can be made with one touch, and there is the option for storing card information for returning users securely.
- Support – JudoPay offers world-class support with every step of the integration and usage process, including web-based, email and phone support.
JudoPay has a great and transparent pay-as-you-go service which bills users per transaction, charging 2.4% of the transaction amount plus processing fees. For businesses which process more than $20,000 a month, JudoPay offers custom pricing to make sure they offer the best value for money.
Finding a solution that best suits YOUR needs can be difficult in the beginning. However, once your requirements are ‘specified/scoped’ you will have a clearer idea of what you need. I said it before and I’ll say it again – don’t fall into the trap of fitting your infinitely complex and unique business into someone else’s BOX.
What are some other things to think about when selecting a mobile payment system?
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