Mobile payment apps is a vast term that includes payments made at restaurants with your phone, a card swiped on a friend’s tablet, and money transfers made with your mobile device to your contacts. Mobile payment apps include everyday transactions made with an app or mobile wallet, point of sale payments done by tapping your phone on the card reader, closed-loop mobile payments facilitated by companies like Starbucks for faster ordering, carrier payments facilitated by your cell phone company, and mobile card readers that you can plug into your tablet or phone to accept payments on the go. Show moreYou can download a mobile payment app to make payments and top phones nowadays come with a built-in mobile payment feature. Start by checking our leader Square, and other recommended solutions in this category.Show less
In order to create this ranking of best Mobile Payment Apps we have analyzed popular applications currently present on the market, comparing their features, ease of implementation, customer service, offered integrations with other systems and mobile device support using our unique SmartScoreTM rating system. This list has been prepared by Nestor Gilbert, our B2B authority dedicated to the Mobile Payment Apps category.
CloudRank™ system is a unique algorithm that our research team uses to evaluate Mobile Payment Apps solutions in a detailed and accurate way. The Spring 2022 edition of the ranking was prepared by Nestor Gilbert, our leading expert in the field of Mobile Payment Apps, who has authored 1380+ product reviews in this category. The goal of CloudRank™ is to present an unbiased, multi-layered perspective on Mobile Payment Apps, considering a wide range of metrics and factors, and educating potential customers about both opportunities and challenges associated with each piece of software.
In order to achieve full objectivity the position in our CloudRank™ is based on:
We’ve calculated a score for each product based on the average experience shared by our users in their product reviews and arranged the list in three tiers. You can see the methodology below on how the calculations were made.
Regardless of their tier, all products included in our CloudRank™ are popular, quality products considered top-performers by our team of experts. Make sure you read a more detailed review of each solution to find one that will work best for your specific needs and budget.
Show lessMARKET POSITION
A score between 1 and 10 based on popularity and market reach of each product.
TOTAL score
A score between 1 and 10 based on the average of our Expert Score and User Score.
Market Position
A score between 1 and 10 based on popularity and market reach of each product.
Total Score
A score between 1 and 10 based on the average of our Expert Score and User Score.
CloudRank™ tier
Based on product's total score.
Rising Star
Contender
Front Runners
Here is a list of all 21 Mobile Payment Apps solutions evaluated with our CloudRank™ analysis. We have compared their features, user satisfaction, market presence and other key factors in an in-depth analysis you can find below:
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Our report covered 21 most popular products from the Mobile Payment Apps category. We’ve analyzed their features, performance, integration, customer support, pricing, and several other key buying factors and combined it with feedback from user reviews to come up with the current list of best solutions:
Leading this year’s CloudRank for Mobile Payment Systems is Stripe, a unified platform of an integrated suite of payment products. This widely-used payment solution is packed with a set of smart tools and APIs to build websites and apps for sending payments and accepting payouts. Companies and businesses rely on Stripe as a payment infrastructure to handle payments, financial services, and business operations.
Stripe goes beyond payments. Its robust product set includes a prebuilt payments page, customizable payment UIs, spend management and card creation, fraud & risk management, as well as, online identity identification and accounting automation. Apart from the standard payments and payouts use case, Stripe can manage recurring billing, facilitate creator payments globally, and enable payments for crypto businesses. Stripe has support for more than 135 currencies, Integrations with third-party applications make Stripe fully extensible and ready to address business problems. Stripe has a powerful and easy-to-use API with client and server libraries of tools for every tech stack. Server reliability is rated 99.99% up and certified to the highest compliance standard.
The payments platform has a technology-first approach to payments and finance and consulting and technology partnerships from renowned brands such as Shopify, IBM, Salesforce, and Amazon Web Services. Expertise from Stripe partners reduces deployment time and helps accelerate global expansion. Customer success stories abound from small businesses to Fortune 500 companies to non-profits. Stripe has processed hundreds of billions of dollars in 150 countries.
Most users of Mobile Payment Apps solutions confirm that in most cases these tools allow them to reach the following business goals:
The Spring 2022 version of the report includes a total of 21 Mobile Payment Apps products that were compared and analyzed by our team. We selected them based on the following factors:
According to a recent Statista survey, biometric authentication such as fingerprint recognition, eye scan as well as facial recognition ranked third as the most trustworthy methods of payment in the US in 2019. It also eliminates the need for customers to whip out their cards whenever they enter into a transaction. Thus, reducing the risk of fraud and identity theft.
Source: Statista Survey
MPOS is a trend to watch out for in the coming years and is mainly used by merchants to easily and quickly set up shop almost anywhere and accept a card payment from a shopper. According to a study in 2019, as much as 73% of shoppers want advanced technology for more checkout choices such as MPOS for convenience.
Source: Statista Survey
Neobanks are digital banks that offer internet-only financial services through their mobile apps and lack physical branches. This type of banking appeals to those who are technologically savvy and are getting more popular in countries that already have the necessary regulations to govern such digital banks such as those in Europe. In the coming years, we will see a rise in mobile payment systems capable of seamlessly integrating with neobanks.
Atombank
Revolut
Monzo
N26
Starling Bank
Source: RFS
Designed byWhether you’re selling online, in person, or on the go, mobile payment apps can help you process nearly any kind of payment in any way you want at any given time. For consumers and businesses, these tools provide a fast, secure, and convenient way to facilitate online payments. On top of that, mobile payment apps can help you boost financial security and reduce inherent risks of cash handling, such as theft, loss, or fraud.
To help you choose the best mobile payment app for your business, we prepared this buyer’s guide of online payment apps that discusses all the details you need to consider before investing in one. In the following sections, we detail the main features and factors that you should look for in a mobile payment application.
Mobile payment apps allow you to streamline payment processes, such as generating invoices, paying bills, and online banking. To begin your search for the best mobile payment tools, you can sign up for free trials or demos offered by some of the leading applications in the marketplace. This includes Lightspeed Retail, Apple Pay, QuickBooks GoPayment, PayPal Payments Pro, and Square. These applications all have high rankings and satisfactory feedback on our mobile payment app reviews.
Mobile payment apps are used by a variety of businesses, whether small, medium, or large-scale organizations. With the capability of mobile payment apps to simplify online payment processes, freelancers also find the best payment apps as a safe and convenient way of getting paid by customers and settling their bills online.
Mobile payments have become an increasingly popular way for merchants to accept online and in-person payments using their mobile devices. Basically, there are four main types of mobile payment apps:
It’s simple. Mobile payment apps leverage near-field communication (NFC) technology to work. Typically, when mobile devices and payment terminals are close together, they communicate wirelessly to complete the transaction. Essentially, when the two devices are two inches close to each other they pass encrypted information using a specific radio frequency to get the transaction rolling.
A mobile wallet is simply a digital wallet that is accessible via a mobile app. The app provides a secure channel to add or update bank details linked to a debit or credit card. Once the details are authenticated, you’ll no longer require physical cards to make payments. You simply authorize the payment on your phone at the point of sale system to complete the transaction.
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Picking a an appropriate SaaS product from the numerous good quality platforms out there can be a difficult task. To assist you, we have created this quick briefing. Find out if the SaaS vendor offers the following advantages:
Reduced Cost: Most SaaS apps are pay as you go, and you don’t have to worry about extra expenses for system maintenance or IT resources, upfront licensing fees, or in-house IT staff.
Fast Set-up Time and Minimized Risk: You should be able to deploy the SaaS solution quickly and easily. Make use of the free trial to learn if the platform fits your requirements. If you choose a wrong program, you can bail out easily with minimum losses.
Customization and Integration: Select a vendor that offers a wide variety of software packages and modules. You should be able to pay only for the features you use to meet the current requirements of your company.
Security and Control: The solution should provide robust security. Select a provider whose databanks are more secure than those in your office to maximize the gains.
The Infrastructure: The provider should offer the required infrastructure so that you need not host anything in-house or need the support of internal IT resources.
Web Access: Your employees should be able to access data anywhere, anytime. To assist them be industrious on the go, choose a vendor that offers mobile apps that are compatible with leading operating systems.
Consider all the six important aspects mentioned above to choose the perfect program for your requirements.
The best mobile paymentapp is Lightspeed Retail. It is a comprehensive POS platform widely used by different types of retailers, including footwear, pet stores, apparel, and home decoration. It provides a wide range of mobile payment features and functionalities designed to help you deliver a seamless payment experience for your customers. From price quotations and invoicing to inventory management, Lightspeed Retail has all the essential tools you need to simplify payment processes and manage your physical or online shops.
Lightspeed Retail is also known for its automated payments which speed up checkout processes for your customers. With its integrated accounting tools, the solution simplifies bookkeeping and accounting tasks. On top of those, Lightspeed Retail brings you detailed financial reports to help you manage and monitor your company’s cash flow.
Merchants from all over the world are beginning to recognize the advantages of using mobile payment apps. Regardless of the type of business that you have, you can benefit from mobile payment applications in the following ways:
Before deciding on the best mobile payment app for your business, you need to consider what each program offers and how it can benefit your organization. Here are some of the most important features to consider in mobile online payment apps:
Some of the easiest mobile payment apps to use include the following:
Apple Pay is a good free mobile payment app that doesn’t charge fees for business owners. The solution supports Apple devices and allows your customers to pay for their purchased products or services, whether in-app, on the web, or in physical stores. It provides a secure and convenient way to send and receive payments via iOS apps, making it easier for customers to provide their payment, shipping, and contact information to check out and complete their transactions.
Additionally, ApplePay offers an express checkout tool that enables customers to complete their purchases from your product site with a single tap. This makes the checkout experience more seamless and convenient for your customers, which can lead to increased sales and conversion rates. Apple Pay also offers powerful security features to keep your financial transactions safe and secure at all times.
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