Are you building a mobile application in Singapore that requires payment gateway integration? This blog post is written for mobile app developers and app business owners to get an idea about some of the common payment gateways in Singapore that can be integrated with a mobile app.
Why Payment Gateways Are Important For Mobile App Development
- Improves the overall experience for customers: Ensures that customers are able to make payments quickly and easily.
- Secures transactions: Protects the user by employing encryption and fraud detection tools.
- Supports various forms of payments: Allows payment through credit cards, digital wallets, and local payment methods.
- Helps in fostering business growth: Drives business expansion through effortless checkout.
- Boosts customer retention: Allows for speedy and safe transactions that entice consumers to make repeat purchases.
Most Effective Payment Gateways For Mobile Apps In Singapore
#1 Stripe
Most mobile app developers in Singapore prefer Stripe integration for their clients’ projects because Stripe is an internationally renowned payment gateway provider. Here are some of the reasons to choose Stripe.
- International payment solution: Handles payment for businesses globally.
- Easy to integrate: Provides API and SDK for mobile app developers.
- Supports various forms of payments: Supports payment using Credit Cards, Apple Pay, Google Pay, and bank transfers.
- Sophisticated fraud monitoring: Employs AI to detect and mitigate fraud.
- No hidden fees: Operates on a per-transaction basis with no extra charges.
#2 PayPal
- Famous globally: Considered as one of the best payment systems.
- User-friendly: Simplifies integration with mobile apps.
- Supports multiple currencies: Great choice for businesses that have international clients.
- Safe transactions: Safeguards for both buyers and sellers.
- Recurring billing: Useful for businesses with subscriptions.
#3 HitPay
- Singapore-based solution: Made for local commerce.
- Multi-payment support: Supports PayNow, Visa, Mastercard and e-wallets.
- No coding needed: It makes it easier for the app developers in Singapore to integrate with their clients’ applications.
- Competitive transaction fees: Businesses can benefit from cost-effective fees.
- Easy integration: Compatible with Shopify, WooCommerce, and other apps.
#4 GrabPay
GrabPay is popular in most parts of South Asia and is very common in Singapore. Many app developers have started using GrabPay to integrate with the mobile applications that they build.
- Cashback and reward bonuses: Make us easier through marketing.
- One-click payment: Increases payment speed within the Grab ecosystem.
- Safe transaction: Uses advanced encryption and anti-fraud systems.
- Perfect for eCommerce apps: Supported by retail, food delivery, and ride-hailing apps.
#5 FavePay
- Commonly used in Singapore: Accepted by retail and food & beverage service providers.
- Fosters loyalty: Offers cashback and discounts to recurring customers.
- Quick mobile payments: Supports various mobile app developers.
- QR-based transactions: A very easy and convenient way to pay.
- No hardware needed: Works via mobile app only.
#6 eNETS
eNETS is another preferred payment gateway that most web developers and app developers in Singapore prefer to use for their clients.
- Local payment gateway: Has the trust of many companies in Singapore.
- Bank transfer: Allows users to transact via bank to bank.
- Secure and reliable: Regulated by Singaporean authorities.
- Multi-currency processing: Makes it possible to transact internationally.
- Perfect for corporate and government payments: Used by large institutions.
#7 Apple Pay
An increasingly popular choice for iOS app makers, Apple Pay enables secure and fast payments using Apple’s biometric authentication features.
Why has Apple Pay become the favorite of most eCommerce app developers?
- Convenience for the app users allows them to make purchases with just a touch or glance, eliminating the need to manually enter payment and shipping information.
- Advanced security (Apple Pay utilizes advanced security features such as tokenization and biometric authentication (Touch ID or Face ID) to authorize transactions).
- Faster checkouts (transactions can be completed in a matter of seconds).
- Global coverage (convenient for users to make purchases both locally and internationally).
- Wide Apple ecosystem (allowing users to easily manage their payment methods across multiple devices, including iPhones, iPads, Apple Watches, and Macs).
#8 Google Pay
Google Pay comes with a simple and secure way for Android users to make payments through mobile apps, integrating seamlessly with other Google services.
Benefits of integrating Google Pay with your eCommerce app:
- Enhanced security that comes with strong authentication methods, including biometric authentication (fingerprint or facial recognition) and PIN codes, ensuring that only authorized users can complete transactions.
- Faster payments (Google Pay enables quick, one-tap payments).
- Multiple payment methods (supports various payment methods, including credit and debit cards, bank transfers, and even digital wallets).
- Easy integration (offers developer-friendly APIs and SDKs that make it easy to integrate with eCommerce apps).
- Trusted brand of Google. Integrating Google Pay into your eCommerce app can enhance your app’s credibility and build customer trust.
How to Choose the Right Payment Gateway for Your Mobile Application
Understand Your Business Requirements
- Select a suitable payment gateway based on customer needs.
- Analyze the transaction volume before you choose a payment gateway provider. Some payment gateways offer superior pricing for businesses that process many payments.
- Make sure to check the payment types that are accepted. The gateway should work with your preferred payment methods.
- Choose the payment gateway that offers hassle-free transaction cancellation process.
- For businesses that deal with foreign customers, it’s important to ensure that the payment gateway can work with the banks in different countries.
Determine Security Aspects
The payment gateway must be compliant with PCI-DSS standards. Also, make sure that payment information is protected.
- Your chosen payment gateway must also have tools to mitigate fraud transactions.
- The payment gateway must use two-step verification. It strengthens user account protection.
- Encryption of data is also important. It guarantees the safety of confidential information.
- The gateway provider should also assist businesses in managing chargebacks, reducing the consequences of a disputed charge.
Conclusion: The choice of integrating a payment gateway for your mobile application may depend on several factors, such as the transaction fee, the number of transactions you need, the region from where you will collect the payments, and the compatibility of payment gateways’ APIs with your mobile app. ease of integration for your app developer, and so on. Seek advice from a professional app developer today!