The mobile future of online payments
New applications and technological advances in NFC (Near Field Communication) have changed the way we purchase goods and are rendering currency obsolete. The proliferation of NFC-enabled smartphones and wearables and the introduction of Apple Pay, Android Pay and Samsung Pay make the inconvenience of carrying cash and credit unnecessary. Payments are increasingly becoming mobile and contactless. Yet, we are still to see tap-to-pay being used at many merchants across continental Europe. Consumers are more ready for touch-free than ever, however, retailers and banks are yet to catch up. This means software solutions and applications will need to be built to fully enable this transition, well illustrated in this infographic.
Companies like PegusApps understand the importance of making sure banks and payment processing companies are ready to handle the growing demand for secure mobile payments, whether they are contactless or not.
Worldline, the European leader in electronic payments, banking and credit card transactions, needed a portable payment processing solution, which utilises inexpensive terminal hardware, to be used by small businesses, like doctors, at-home vendors, or catalogue merchants on the go (at the office/home office, at customer visits, or at events).
To meet their needs, PegusApps built Xengo: an interface between a Bluetooth-enabled, portable pocket payment terminal and the company’s backend, where the payment processing takes place. The solution we built can also be integrated with any cash register; all that is needed is an internet connection on a smartphone or a tablet for completing the payment.
Worldline Easy Integrator SDK
Another solution developed by PegusApps for Worldline is Easy Integrator, where we built a framework to simplify cash register implementations and payment processing. The custom library (SDK) PegusApps developed can be easily plugged into any ECR (electronic cash register system), regardless of the programming language used (C++, .NET, Android, iOS, etc.). The payment initiation and completion are then handled in the background. The Easy Integrator mobile app demonstrates how this solution works and can be used to send data to the terminals as a replacement for the actual cash register.
Going forward, this type of solutions, including custom backends, can be developed for businesses with complex payment protocols.
EasyOrder is a convenient ordering platform for small merchants, linked to mobile apps and a web shop with integrated payments, which work both on desktop and mobile. Any website or application with e-commerce capabilities can benefit from this technology. Once the customer hits the ‘’buy” button in a web shop, they are redirected to a page where they can enter their credit card information or use a QR code and scan it with a banking app. Within apps, users are automatically redirected to the correct banking/Bancontact/Mister Cash app. PegusApps interfaces in the backend with a payment service provider and the payments are then handled by companies like Worldline.
Mobile Payment Apps
Apps that facilitate mobile payments, like payconiq, are slowly becoming mainstream. Payconiq facilitates payment among friends and merchants, without having to enter bank details for each payment. PegusApps has the expertise to build your own custom mobile payment like Payconiq or a banking app, such as KBC Mobile or ING Mobile.
Security Still a Barrier to Usage
In addition to the convenience of mobile payments, security is the single most important reason for adopting contactless payments. Yet, it is also the one least understood by consumers, according to the latest MEF Global Mobile Money Report. Concerns over the security of entering credit card data in their smartphone or the trustworthiness of the transactions are the main reasons users hesitate to pay via mobile. More education would need to be done by banks and retailers to ensure customers understand the security advantages of using mobile payment tools.
PegusApps follows stringent industry standards for data encryption at all levels, including data transfer, authentication, and data storage. We implement highly secured backend systems, employing multiple firewalls. User authentication also adheres to the highest standards and is done using the OAuth 2.0 protocol.
The company infrastructure setup provides advanced capabilities and services to increase privacy and control network access, including but not limited to Network firewalls and web application firewall capabilities:
- Encryption in transit with TLS across all services
- An AWS setup, which can be used to implement a defense in depth strategy and thwart DDoS attacks
- Secure connectivity options
- Amazon CloudWatch Alert notifications, allowing early detection and risk management.
Let us know if you are ready to investigate integrating mobile payments into your business.