How to Choose a Suitable Mobile Payment Gateway in Kenya

mobile gateway

There is no doubt that online business is here to stay. E-commerce has been growing at a steady pace for about 20 years now, and with quick yet foolproof developments in technology, this streak will continue. According to Statista, the number of people shopping online worldwide will grow up to 2.14 billion by the time it is 2021. Similarly, KPMG, in their Global Online Consumer Report of 2017, stated that the primary reason people stated for shopping online, is the ability to do so all through the day!

Along with transactions over computers and tablets, online buying through mobile payments has also been on the rise. According to Payments Cards and Mobile, it is an estimate that by 2022 the global total of mobile payment transactions will reach almost $14 trillion. A glimpse into such numbers only tells us one thing – the regularity with which people make transactions over their mobile phones are rising and this means a number of things for any business that wants to have a steady online presence. Among them is the importance they provide to user experience because right now in 2019, users are more discerning than ever before. 

Techjury’s statistic that 90% of users stop using an app because of poor performance is telling. It means people don’t have the time or the patience to plod through bad design and bad infrastructure. So you see why every bit of the online experience is so important for the user? And payments are right up there in the scheme of priorities for users. No one is ready to have their data compromised or access a service that creates more complexities for them, than when they were off it? In an environment like this, it’s only prudent that businesses in Kenya choose a suitable mobile payment gateway service. To know what that really takes, keep reading. 

– Check if it is integrated

For good reason, integrated payments have become the rule of the day, versus hosted payments. To get to the heart of it, it’s important to understand how these two payment mechanisms work. While hosted gateways redirect customers to their payment processing site, integrated gateways connect right back to the business website, giving customers no reason to leave. The latter extends the time of engagement between business and customer and is also an option which typically features multiple wallets, telcos and payment channels. 

– Figure out the time taken to the checkout

While trying to zero in on a mobile payment gateway in Kenya, it’s essential you asses how long it will take for a customer to pay for a transaction and then get out. Remember, fast checkouts are crucial to providing customers with an easy, seamless experience, where they don’t feel like they’re spending more time than they have. This reduces repeat transactions or even the same customer coming back to shop on the business site. Choose a gateway that guarantees fast checkout without faulting on safety. 

– Assess the safety standards

In an online transaction, data exchange is a reality that can’t be done away with. Sensitive card information along with other details need to be exposed in order for the issuing bank to authorise the payment. In an ideal scenario, a mobile payment gateway features robust security which designed to detect fraud. PCI DSS compliance is another aspect that every business needs to consider when they take on the services of a payment gateway. If they don’t the weight of the compliance becomes their responsibility, which can become both tedious and expensive. 

– Keep a track of implementation time

When it comes to business success, it all adds up. The time it takes for a gateway to be integrated into a business system is a primary criterion. Some gateways can be easily integrated without much hassle and this can take only a day or two. Other gateways can take up to two weeks. The idea of most businesses is to sync up with a service that can handle complex back-end processes by offering a simple, easy-to-use front-end interface. A mobile payment gateway with well-written APIs can come to good use in this context. 

– Weigh the fee structure

While choosing an m-commerce gateway, it is imperative that businesses look into the fee structure. Sometimes, services feature the lowest qualified fee to the business just to get them to sign up but once they do, the hidden fees begin to come up. While setup fees are more or less the same, it’s important to keep an eye on fees levied on withdrawals and cancellations.