E-commerce sales are estimated to exceed $6.3 trillion U.S. dollars worldwide, and nearly a third of all transactions use a credit or debit card.
As a result, businesses have to provide smooth and secure payment experiences to retain customers and maximize conversions. One way to achieve this is by integrating a credit card scanning SDK or Software Development Kit. This streamlined process reduces friction in the checkout experience, minimizes fraud, leads to happier customers and increases sales.
What Is a Credit Card Scanning SDK?
A credit card scanning SDK (Software Development Kit) is a tool that allows developers to integrate credit card scanning functionality directly into mobile apps or websites. This software uses the device’s camera to scan credit card details like the card number, expiration date, and the cardholder’s name. Technologies like Optical Character Recognition (OCR) are employed to recognize and extract the text from images of the card, translating it into usable data for the payment process.
The main benefit of this technology is the elimination of manual input, making the checkout process faster, less prone to human error, and mitigating fraud. By allowing users to simply scan their card, businesses reduce the time and effort needed for users to enter their card numbers, preventing frustration and delays at checkout. It also verifies the physical presence of the card by utilizing the smartphone’s camera to capture and analyze the card details directly from the physical card.
Benefits of using a Credit Card Scanning SDK
Integrating a credit card scanning SDK can transform your payment process and provide significant advantages for your business.
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- Improved user experience: By enabling users to scan their credit cards rather than typing in the details manually, you make the checkout process quicker and easier.
- Reduced cart abandonment: Cart abandonment is a major issue in e-commerce, with complex or lengthy checkout processes being a common cause. When payment processes are seamless, customers are more likely to follow through with their purchases. A credit card scanning SDK simplifies this, allowing users to complete their purchases faster and reducing the chances they’ll abandon their cart.
- Fraud prevention: Advanced credit card scanning libraries can verify whether a credit card is physically present using features from the card image, minimizing stolen credit card fraud.
Benefits for Developers and Businesses
Credit card scanning SDKs offer distinct benefits for both developers and businesses:
For Developers: Integrating a pre-built SDK saves time and effort compared to building a credit card scanning solution from scratch. Most SDKs come with ready-to-use code and documentation, allowing developers to quickly add the functionality into their apps without heavy custom coding.
For Businesses: Businesses benefit from increased conversion rates and reduced dropoff, as customers are more likely to complete their transactions when the checkout process is simplified. Additionally, better security features help reduce the risk of fraud, protecting your business and its customers.
How to Choose the Right Credit Card Scanning SDK for Your Business
When selecting a credit card scanning SDK, it’s important to consider several factors to ensure the tool fits your business needs:
- Ensure that the SDK is compatible with the platforms your app runs on, whether it’s iOS, Android, or web-based applications. It should also integrate smoothly with your current payment infrastructure.
- Look for SDKs that offer easy integration with detailed documentation and developer support.
- Given the sensitivity of payment data, prioritize security features like PCI compliance to ensure that transactions are safe.
Reduce Fraud and Boost Conversions in Under an Hour
Integrating a credit card scanning SDK into your mobile app or website can streamline your payment process, improve user experience, and boost conversion rates. DyScan is the market-leading credit card scanner that works on all credit cards. DyScan reduces payment fraud by verifying the physical presence of the card while facilitating payments.
Learn how you can scan 100% of cards, boost payment conversion by over 5%, and reduce fraud by over 50% with less than an hour of engineering work. Get a demo today.