Web-based payments processor PayLane has today announced availability of its first native Android app, marking the company’s first real foray into capturing a slice of the potentially lucrative mobile payments market.
Unlike rival mobile payments processor services like iZettle or Square, which also offer a physical card reader alongside a mobile app for accepting payments, PayLane focuses on purely carrying out all mobile payments within the app itself. The app is free to download, but sellers will need a merchant account in order to start selling and to get access to the Merchant Panel, which provides an overview and controls over transactions. For each transaction carried out, a fee of 2.8 percent plus €0.25 is charged by PayLane.
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In order to get started, the vendor simply needs to download the app and add any products or services that they want to sell – these can be priced differently to in-store or other Web prices listed to offer customers an incentive to buy on-the-spot and in person.
Once a customer is ready to make a payment, they simply need to enter their card number and confirm the purchase. A receipt for the purchase can then be sent on via email.
The app is currently only available to download on Android devices, but an iOS version will be made if this launch is successful, a spokesperson told TNW.
In addition to launching PayLane Go, the company also said it was opening up an option to white-label its payment service for integration into existing apps. It was actually from work with Vemma Payments and building a dedicated payment app for the company that led to the creation of PayLane Go. Handily, the project also doubled as a sort of beta test for its own mobile ambitions.
Rounding off the list of today’s announcements is the launch of an embeddable mobile payments form for businesses that already have a tablet or smartphone-friendly site, but that want to integrate payment options that don’t redirect visitors away from the original landing page.
With competition in Europe already fierce in the mobile payments space – and only looking to become more competitive – the shift to offering a native app for vendors couldn’t come too soon for PayLane, and by offering simple API integrations for existing apps and websites it stands a chance of luring some rivals existing customers, as well as scoring new ones. However, it will need to bring a native iOS version to market as soon as possible if it wants to proper chance at capturing the largest potential share of the mobile payments market.
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