• Total Transaction Value in the Digital Payments segment amounts to US$3,403,168m in 2018.
• Total Transaction Value is expected to show an annual growth rate (CAGR 2018-2022) of 13.9% resulting in the total amount of US$5,728,699m by 2022.
• The market’s largest segment is Digital Commerce with a total transaction value of US$2,875,507m in 2018.

Being one of the top mobile app development company, we at BrainMobi are keen to explain the growth of payments app and how it shall benefit the developers.

Kind Of Payments You Wish To Support

Modern smartphones are equipped with plenty of features that can come to the advantage of any mobile application developer. Some of which being Bluetooth, camera, a location determining GPS modules, fingerprinting scanning authentication. All of these can be readily combined with any online commerce payment or Mobile P2P transfers. Payment app Venmo is reported to have spent over $1 Billion in January 2016 alone. ClearXchange also offers instant money transfer services which is a joint venture with many banks. Such instances can come in real handy when it comes to mobile wallet app development.

NFC

Near Field Communication protocol enables contactless and secure between a NFC enabled smartphone and a transmitter attached to a POS device. The corresponding user has their card information stored in digital form within the mobile wallet of their device. In the case of information being retrieved from the cloud, the device makes use of the Host Card Emulation which was largely adopted by google to give pace to their android services. When a payment takes place the consumers information form their device and sends it to the nearest payment terminal via the NFC. Apple too incorporated this system first with the launch of iPhone 6, which however is limited to the Apple Pay platforms only.

Bluetooth and iBeacon

iBeacon stands as a great alternative to send proximity oriented information that too without relying on an internet connection. Any smartphone equipped with Bluetooth 4.0 can effectively communicate with an external BLE transmitter popularly called the Beacon. Following the users consent, an iBeacon-enabled POS can easily retrieve information which can be made visible on the clerk’s POS terminal. This also helps you to offer indoor navigation which is implemented in enhancing customer experience with real time recommendations incase within the spot. Integrating payments with these systems can help eCommerce merchants.

QR Codes

QR codes were conceptualized to be the more simpler alternative to NFC and have been implemented by several mobile payment app development companies. For example Starbuck’s Mobile Wallet app accounts for 21% of all transactions in the US alone. It consists of a procedure which allows all customers to link their payment methods and encrypt them into a secure QR code which can be stored in the cloud and used at the time of checkout. Notable application Levelup also supports QR payments for its registered users along with iBeacon and NFC systems.

Wearables also in the race

Any Mobile app development company have a lucrative opportunity in the form of wearables lying ahead of them. The wearable market is steadily growing and is expected to hit $19 billion by the end of 2018. With the kind of UX features apple smartwatch is capable of delivering, the payments will surely be a thing they would want to incorporate. Square is the popular credit card processor provider which has launched a mobile payment app for Apple Watch that goes by the name of cash using which users can send and receive personal and business payments through their smart watch. All this will at the same time being perform a quick payment.

As one of the top eCommerce app development company, we at BrainMobi have taken several successful endeavours in the field of eCommerce. Our various practices ranging from a wide variety of clients from all across the globe allows us to incorporate various business friendly functionalities. Our team of developers and project leaders are always keen to deliver the most top notch services which shall be a step ahead of what the market can deliver. If you have the idea of a mobile or web application, kindly write to us at sales@brainmobi.com .

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While android applications might have a higher number, but when it comes to generating higher revenue models, ROI, people do prioritize iOS applications. The few reasons why iOS applications are excelling in technology and offer better security features than Android. As one of the Top iOS App Development Company, we at BrainMobi keep a constant eye on the progress and would like to present to you the trends that could help you with your next project.

Introduction of Swift 4

Any ios developer must be aware of what swift is. It is a programming language developed by Apple and offers support to iOS and Linux operating systems. Besides this, it can also be pre-compiled for macOS and tvOS respectively. For most, it is considered as the advanced version of swift 3. It is reputed for its scalability and robust security and is fairly easy to learn. As from a developer perspective, application development will become  simpler and won’t be consuming more memory of the device. This will cause the 2018 era of ios apps to be more securer when developed with the help of swift 4.

AI Upgrades and Siri

Post launching of Siri, apples personal assistant has gained quite a lot of prominence. Siri without any doubt can be regarded as a trend setter for Artificial Intelligence and contextual learning as it make easily make out what people are searching and listening for. Above that it has helped a great deal in helping to find answer to important questions. Apart from that it also offers a GPS pin which helps you get access to the Citi Mobile App offering a task manager like service.

Core Machine Learning

Core ML is one of the most talked about trends any enthusiastic app developer needs to watch out for. It is a core machine learning framework developed by Apple which has been proving effective for tasks related to Siri, Camera, Quick Type. Using Core ML all that developers need to do is add a few lines of code to enhance security of the application and ensure the features that follow. Core ML will help make possible a level of communication applicable to all iOS features with its robust library. Moreover it shall come handy in face detection, developing better understanding of the language and developing AI based games.

Augmented Reality and ArKit

Augmented reality is a very elaborate and descriptive future and with the Apples latest iOS12 it has been clearly evident as for the kinds of efforts it has been putting in this domain. Nintendo’s collaboration with apple for its pokemongo venture was a small exhibit of the impact AR is waiting to see in the current market. But as per reports it is looking forward towards developing 3D and virtual based mobile applications which are gaining impetus everyday. Apart from this the ARkit will also be receiving lot of support from Amazon’s Sumerian Platform.

User Friendly Features in Apple Pay

Working along similar lines of google, Apple too has launched its analogue of google pay which goes by the name of Apple Pay. It is a digital online mobile wallet via which iOS users can make easy payments. This will support all iOS devices including iPhone, iPad, iOS watches and mac Laptops. It is being revered for its security and one can conduct purchases hassle free. The stats have seen up to an incredible hike of 500% on transactions made via apple pay. The unique go to feature would be the fact that you can conduct transactions within messages as well all the way from making flight and hotel bookings as well.

As one of the Top Mobile App Development Company, we at BrainMobi have taken several successful endeavours in developing mobile applications for android and ios and have delivered every possible functionality that brings out the brands purpose. Our team of ios and android developers are keen to take on any obstacle that stands between you and your mobile application concept. If you have the idea for a mobile or web application, kindly write to us at sales@brainmobi.com .

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