Mobile payment application development

Most of our clients (whose reviews you can read on Clutch) mention clear, transparent, and effective communication as one of the definitive aspects of work with Relevant. They also point out the smooth development process and professional management style, among other things.

We would also like to add that all of our programmers and other team members pass the English assessment test to ensure that the team fully understands our client’s ideas and needs and can provide the best experience possible.

There can’t be any confusion about who owns the IP rights. It is you, the client, who owns all the pieces of intellectual property.

Of course, Slack is actually of our main communication tools in the company. Our PMs assign and manage tasks in Jira, but we easily adjust to any collaboration tool that is convenient for you.

Sure. As you know, the choice of architecture has a great impact on the scalability of the software. Once the choice is made, it might be very tough or impossible to change it. Scalability, in its turn, is essential to reach the goals the software should fulfill. Therefore, we develop all of our products with scalability in mind.

Yes, we can sign an NDA agreement if you want to, so you can be sure all your project information is strictly confidential, and you have taken legal measures to protect it. We can discuss the terms of the non-disclosure agreement and sign NDA anytime you need.

Mobile payment is a digital payment made through an electronic device such as a smartphone or smartwatch. It is a very convenient payment method as it eliminates the need to use checks, cash, or physical credit cards. The popularity of mobile payments has grown at a good pace, and it is already a more widespread standard than people might think. Already in 2018, 29% of online merchants accepted mobile wallets, compared to 24% in 2015. And the pandemic has only reinforced this trend. According to the National Retail Federation, 69% of retailers saw an increase in contactless payments during the COVID-19. The study found that 94% of them expect that increase to continue over the next 18 months. Another research conducted by eMarketer showed that the in-store mobile payments’ usage grew 29% in 2020 in the U.S., as consumers preferred safer mobile payment method over credit cards and cash.

In addition to the probably most exciting payment method, NFC technology, which takes place directly at the cash register terminal, payments can also be processed online. In this case, they are called remote payments. The popularity of payments with NFC is constantly growing. Its market size is expected to triple in Europe between 2020 and 2024. Mobile payments with QR codes used to be much less common, but their usage has accelerated since the COVID-19 pandemic.

There are different ways to send and receive payments with your phone. These are:

• In-app payments. This type of payment allows users to purchase goods and services from inside the app on their phones. All they need to do is register their card details once, and they can buy goods on AliExpress, download games or books, subscribe to Wired, or pay their bills fast and efficiently.
• Browser-based payments. Many services allow their users not just via an app but also via browser. So customers visit a seller’s site, add items to a shopping cart, provide the system with the payment details, and complete the purchase – all through their smartphones.
• Mobile credit card readers. This type of payment is proceeded through a mobile credit card reader. These mobile readers are devices that are attached to the phone, so they can work as a card reader and accept various types of payments – chip payments, credit card swipes, or contactless payments.
• Mobile wallets. Millions of customers make their payments with mobile wallets. A mobile wallet is a digital online tool that lets you store your cards information and make in-store and online purchases. There are different wallets, such as closed or semi-close wallets, that allow transactions only with a particular group of sellers and open wallets that enable a range of transactions and sometimes even withdrawals at ATMs.

Relevant is a software development firm that designs, builds, and integrates software for businesses of various sizes and from different industries, particularly for Fintechs.

As an experienced fintech software development company, we create web, native hybrid payment solutions for various platforms. Some of our custom payment software services include:

• mobile e-wallet development
• mobile payment processing apps
• mobile POS systems
• online payment security modules
• online payment integrations
• and much more.

If you are interested in mobile payment app development costs or ready to develop a mobile payment solution and want it to be done professionally, contact us; we will be happy to help!

Here are a few things you should never overlook when choosing a mobile payment solutions development firm.

• Experience. The first thing you have to do is verify their experience, especially if you don’t have any network recommendations. Check their website as well as other mentions of the firm on the web thoroughly. Look for a company with at least a few years of experience and pay attention to the level of seniority of their tech specialists, particularly if you’re planning to create a big, highly customized software.
• Portfolio. In order to implement a complex mobile payment software development project, an IT company should be knowledgeable in various domains, including products development, web development, app development, cybersecurity, to name a few. Look for the firms that have already implemented projects in the fintech field.
• Communication. Everyone knows that half the battle in creating good software is understanding your development partner and whether they understand you. So before signing a contract with a software firm, make sure that effective communication is possible. This requires your development team to have developed soft skills and the ability to explain things in plain language as well as more technical stuff, such as excellent internet connection, transparent and well-established processes (do they use communication tools that are convenient to you?) and lack of language barrier (do they speak English well?), etc.
• Price. Select a few companies and check what their rates are, and if one is considerably lower — or higher — do not hesitate to clarify why. Having a more detailed conversation on the topic will give you the necessary information to make the right decision. Because the low costs can pose the intention to lowballing the estimate just to win your project, and seemingly overpriced offers may be explained by their solid experience, and the good job costs money rule.

This list is not full by any means. Some other criteria, such as the recommendations or mobile payment developers’ location, may be of particular importance for particular projects. For example, companies looking for a good price-quality ratio often choose Ukraine’s outsourcing.