Wirecard, the global innovation leader for digital financial technology, has announced enhanced software development kits (SDKs) for mobile in-app payments and is a further step closer to making its vision of a fully digital financial commerce platform a reality.
The new mobile payment SDK libraries for iOS and Android were created to enable merchants to integrate in-app payment options more easily as well as facilitate PCI compliance.
Global mobile app revenues are expected to grow from $88 billion in 2016 to $189 billion in 2020, with shopping being the fastest growing mobile app category based on average consumer usage time. By offering in-app payment, merchants can take advantage of these trends and, thanks to Wirecard, improve the omnichannel customer experience. Wirecard expects mobile in-app payments to be a significant pillar of future growth as currently only 1-2% of all transactions worldwide are fully digital.
“Wirecard found out that around 40% of consumers prefer to make purchases using their mobile devices. This is why in-app payments are a significant element in our future vision and why offering these options is quickly becoming a necessity for merchants. In the future, every element of consumers’ daily financial lives will be digital - on public transport, at home, on holiday, in-store, all processes will be completed on mobile devices. We help our customers get up and running more quickly by enabling easy, flexible integration of new mobile payment options, which in turn helps them to improve the user experience and grow their businesses,” said Sreelekha Sankar, EVP Payment & Risk at Wirecard.
Offering in-app payments represents considerable revenue potential for merchants. The enhanced SDKs significantly reduce the time and effort of integrating in-app payments into their mobile apps. By supporting a wide range of popular payment methods, Wirecard offers merchants full flexibility as well as scalability, as payment methods can be integrated as individual modules. By working with Wirecard, card-not-present merchants who have entirely outsourced their cardholder data processing and storage, can easily validate their PCI compliance.
Contributed | what does this mean?