The era in which we live is full of online stores, and shopping online becomes an inseparable part of our lives. Competition on the market is really difficult and that is why business owners of e-commerce are adopting different methods for success. Mobile shopping accounts have a big percentage of e-commerce retail sales, according to Statista. This is the justification for the success of the Payment Gateways. Many Mobile App Development Companies have developed a lot of apps that help in online payments for Android and iOS devices. In this blog, we’ll learn more about Payment Gateways, how they work, and tips on the integration of payment gateways into mobile apps. For their e-commerce website or mobile app, payment getaways are software that allows merchants to integrate electronic transactions. It is the easiest way to manage purchases online. Online purchases will not be feasible without software for payment processing. These applications support a lot of common and popular platforms in financial services. They include MasterCard, Visa, American Express, etc. They can easily and reliably check user data, too. Mechanism of Payment Gateways You’ll need an internet connection to use the payment gateway feature on a mobile app. Clicking on the pay and buying selected services or products will take you to a page that needs some information. Users of the app are asked to fill out their bank card information (credit/debit) into the form. The high-speed net link gives you the confidence that the transfer will be done in a few seconds. Payment gateway at this point fetches the details of the card. Then it is passed to the Bank concerned. The next move is for the bank to accept the system’s payment request (Visa, MasterCard, and others). It’s analyzing and verifying the purchase you made. Once the system of the bank accepts the transaction, the issuer of the bank sends the seller an authorized code. The final step is that the correct amount is debited from the consumer’s account and transferred to the seller’s account in a day or two. In-App Payment Gateway Implementations When a customer opens the mobile e-commerce app to buy stuff, the item selected goes into the shopping cart. The cart is connected to a payment gateway, and the details of the transaction are stored in the merchant’s account until you pick a provider. Popular Payment Gateways PayPal PayPal is one of the best and most successful e-commerce payment gateways. It is the most reliable application since it was first launched in 1998. It supports users in 202 countries, and 25 currencies. Stripe Overall this is another very good device for tracking purchases and payments. This app has various features such as web-hosting journal, Administrative panel access, highly secure and user-friendly, and so on. Square Square Point of Sale (POS) is the free Android and iOS app offering you all you need to make payments and run your business. In this app, you’ll get your merchant terminal’s new processing features. Skrill You can submit money easily using Skrill with low transfer fees. This app can be used around the globe in more than 180 countries, and it supports 40 currencies.