Key factors that frame crypto payment gateway development cost

Cryptocurrencies have established massive growth in the modern digital world. Also, a lot of business people had shown interest in investing and trading in cryptocurrencies to generate huge revenues. When it comes to trading and transacting cryptocurrencies, the crypto payment gateway platform plays a huge role. The Blockchain powered crypto payment gateway will transact the cryptocurrencies with safety and security across global countries. 

The crypto payment gateway business is one of the emerging business trends in 2022. But before starting a crypto payment gateway business, Everyone will have a Question “How much does it cost to create a crypto payment gateway platform??”

When it comes to the cost of crypto payment gateway development, you need to consider some of the essential factors. Those factors are mentioned below.

1. Development methodology

Coming to the development methodology, there are two possible ways to develop a crypto payment gateway. They are 

1. Develop from scratch

2. Develop using white label solution

The first method is (Developing from scratch) to develop the crypto payment gateway from the base. This method is cost-effective and an extensive time period will be required. The second method is ( Develop from a white label solution) you can develop the crypto payment gateway from a readymade solution. You can buy the software from a trusted development company and can instantly launch your own crypto payment gateway platform.

If you have enough amount of money and coding knowledge, then you can go to the first method. In case, if you are interested to develop instantly at an affordable cost, then you can prefer the second method. However, Do some market analysis and select which one is a suitable way for your business.

2. Fascinating features

The development cost will also include the trading and security features that will be integrated into your platform

Apart from this, a few important factors that frame crypto payment gateway development cost are the complexity of the platform, size & location, Technology used and multi crypto payment gateway support, etc.

Check this ultimate blog to know more details about the Cost to Develop a Crypto Payment Gateway Platform

 

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Banking App Development Cost - 8 Hidden Factors

Since 1994, Digital banking has been here. It is a very long time, but digital banking through mobile devices is entirely new to the banking industry. It all started when Atom became the first digital-only bank in the UK.

Nowadays, Tech-savvy customers expect corporations to support their digital movement, and because of this, almost every industry has adopted technologies to stay relevant with these modern customers. Most of the newbies who plan to develop a banking app have two questions in mind: “What is the cost of developing a banking application” and “Which hidden factors affect the cost of developing a banking app?”

You can get all the answers to these questions here, because this article will take you through the cost of developing a banking app, the features of banking apps, and much other pertinent information. After reading this, you will be able to plan better for your mobile banking app development. But before directly jumping into the cost of mobile banking app development, let’s take a look at the global digital payment market size of mobile banking.

Global Digital Payment Market Size

According to GlobalNewsWire, by 2026, the Global Digital Payment Market size is estimated to reach $175.8 billion, rising at a market growth of 20% CAGR during the forecast period.

Around 23% of millennials use mobile banking apps daily.
Around 49.2% of total smartphone users use mobile banking apps.
41% of Americans said that mobile banking apps had minimized their concerns about managing finances.

Data Source: Statista

As you can see, the data clearly indicates that the percentage of smartphone users are increasing day-by-day. Therefore, by engaging in your own mobile banking app development currently, you will be able to take advantage of the growth in mobile users. But, the cost of developing a banking application depends on so many factors like the platform, features, technologies, and so on.

Mobile banking app development cost

Cost of developing a banking app depends on various factors. To give you a rough idea of the mobile banking application development cost, the total development time for a fully-featured app sums to 3760 hours. Considering hourly rate for fintech projects of $25, the cost of developing a feature-loaded banking app stands around $94k.

Banking Application Development Cost depends on different phases such as:

• Research and Planning
• UI/UX Design
• Development
• Testing
• Maintenance and Support

8 Hidden Factors of Costs of Mobile Banking App Development

1. Push Notifications

It’s not easy to imagine an app that does not utilize this necessary mobile capability. Push notifications always increase your users’ engagement with your mobile banking app and encourage the desired action. Push notifications are of three types:

1. Transactional notifications notify users about their account updates.

2. The Application-based notifications indicate when the mobile banking app requires the user’s attention, whether related to the password change requests or document submissions.

3. Promotional notifications are to grab the attention of customers to offer discounts and attractive deals.

2. Chatbot Integration

For most users, mobile banking has a steep learning curve, and due to that, the customer will require immediate assistance on various occasions. Hence, creating a chatbot for customer service is the best way for many institutions to improve their customer service availability. The chatbots will save you a lot of time and money, whilst providing customer support 24/7. But this feature has a separate development process, and therefore you have to pay separately for this.

3. Servers

Servers are where your mobile banking app will be hosted. If you are not with the largest enterprises, you will want to outsource hosting from Amazon, Azure, or Google, which will result in more costs.

4. Content Delivery Network

A CDN is a system that is used to deliver content to the app based on the origin of the content, the content delivery server, and the geographic location of the particular user. In simple words, if you have users across the globe, and they have to keep coming back to one far off location to access the content, then the app will not perform in a good way. So, if you want your mobile banking app to perform effectively, you should use a content delivery network, because it reduces the app loading time and also increases the responsiveness of the app.

5. Development Tools

If you want to use paid deployment tools like iBuildApp, Appy Pie, and IBM MobileFirst, to develop your mobile banking apps, you will need to subscribe to them over the lifespan of your app. This will also affect your banking app development cost.

6. Android and iOS Updates

As we all know, both platforms constantly release updates, and those updates require maintenance. Depending on the extent of maintenance required, the cost in the long-term can sometimes be significant.

7. APIs

Every mobile app usually has multiple third-party APIs that they interact with, especially at the enterprise level. If you make changes to any of these applications, they will require periodic maintenance of your APIs. For instance, Facebook updated their API version four times in 2016; now, what if you want to integrate with Facebook? You will need to update your app to accommodate those changes.

8. Bugs

As you know, every app has bugs, and not even a single developer can assure you that there will be no bugs in the future in your app. It’s just that sometimes they go undiscovered for months or even years. User communities are not kind to apps that are slow to address the issues that they have reported.

Conclusion

The cost of banking application development not only depend on the features of the banking application, but they are also heavily affected by the hidden factors I have mentioned. The primary issue with mobile banking app development cost is the amount of individual components that you need to gather. Each of them can cost thousands of dollars, and these costs will continue throughout the lifespan of your app. However, the rewards that come from a successful mobile banking app development project are huge.

Pro Tip: The cost of developing a banking application greatly depends on the hourly rates of programmers and the expertise of the team. FinTech experts are able to complete these projects much more efficiently.

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Crypto Payment Gateway Services assist in the smooth execution of Transactions

As business firms keep expanding their operations, the need for a payment gateway increases with every passing day. It offers a mechanism for accepting transactions made in any Cryptocurrency by the users.

A Crypto payment gateway is highly secure, prevents the chances of chargeback frauds, can be used for processing peer to peer transactions, and is completely immutable.

Using cryptocurrencies is beneficial as it can be exchanged 24x7, eliminates the role of third parties, low transaction fees when compared to debit and credit cards, and eliminates the chance of fraud.

The Typical Features of a Cryptocurrency Payment Gateway are

• Support for the major cryptos, fiat currencies, and stablecoins.
• Safety measures like two-factor authentication, jail login, cross-site request forgery protection, and server-side request forgery protection.
• 24x7 technical support is provided in numerous languages.
• Has plugins integrated with e-commerce platforms.
• Free deposits and withdrawals of cryptos by the users.
• Access to transaction history for the users that helps in real-time monitoring of their payments.
• An integrated referral program or an affiliate program where rewards can be earned by existing users for referring new users to the crypto payment gateway.
• Cold storage facilities where funds of the users can be backed up securely. An offline vault is also available for safeguarding digital assets.
• Compliance with the regulations of GAP600 that guarantees the instant execution of transactions made in Cryptocurrencies.
• Integration with POS (Point of Sale) systems where payments can be made in cryptos for purchasing goods and services.

The Process that users have to implement while using a Cryptocurrency Payment Gateway

• The user has to send information about the amount of cryptos that he is willing to pay.
• The status of the transaction will display on the screen and he has to press the confirm option.
• The payment will be confirmed after a few seconds.
• The user can see the details of the transaction executed like the amount, time, and the party to whom the payment has been made.
• His account balance will be updated immediately.
  In this digital era, obtaining Crypto payment gateway services is highly necessary and inevitable.

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How to get the best crypto Exchange Development Services?

Antier Solutions is a globalized dynamic blockchain development company, assisting the clients with the finest Crypto Exchange Development Services in the market. Being one of the pioneers in the cryptocurrency exchange software development, we also offer instant White label cryptocurrency exchange platform, scalable according to the customer’s requirements, and simultaneously ensuring that the vital factors such as flexibility, transparency, security, controllability, and accuracy are met. We also have cybersecurity experts to protect your assets in the most efficient way possible.

For more information, call us: +91 98550 78699 (India), +1 (315) 825 4466 (US)
Email: info@antiersolutions.com

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Stripe Payment Gateway Integration Example In Laravel 8

In this post i will share you stripe payment gateway integration example in laravel 8, stripe payment gateway is integrated in many website for payment collection from client, In this time many e-commerce website and other shopping websites are use stripe payment gateway.

So, here we will learn stripe payment gateway integration in laravel 8.

Read More : Stripe Payment Gateway Integration Example In Laravel 8

https://websolutionstuff.com/post/stripe-payment-gateway-integration-example-in-laravel-8

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Read Also : How To Integrate Paypal Payment Gateway In Laravel

https://websolutionstuff.com/post/how-to-integrate-paypal-payment-gateway-in-laravel

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Razorpay Payment Gateway Integration in ASP.NET MVC

In this article, you will learn Razorpay Payment Gateway Integration in ASP.NET MVC web application or an eCommerce website using C#. With Razorpay, you have access to all payment modes, including credit and debit cards, UPI, and popular mobile wallets.

• You may be interested in Paypal Payment Gateway Integration in ASP.NET Core

To check the Razorpay Payment Gateway demo, please click here:

How to integrate Razorpay Payment Gateway in ASP.NET

The Razorpay Payment Gateway enables you to accept payments via debit card, credit card, net banking (supports 3D Secure), UPI, or through any of our supported wallets. Refer to the Payment Methods section for a list of payment methods we support.

Find the below steps to integrate Razorpay in your website:-

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