Build a robust currency exchange platform for a lucrative business with an App Like Paytm solution
In the digital era, if anyone doesn’t know about the Paytm app, then they must be considered as someone from an early age. Digitization is the key term that this app has brought in. Being the ideal app for many entrepreneurs, we are going to look into some crucial aspects of the Paytm Clone.
What is a Paytm Clone app?
It is the platform that lets anyone transfer money into the wallet integrated into the app. The money can be transferred by any debit or credit card or online banking. Using this app, many can pay for multiple services and goods. But for that, the users need to set up an account by entering their phone number and email address, which enables them to transfer cash to the wallet. The user can add up to a certain amount per month, which can be increased when the KYC processor is done.
But before we get straight into the development, we need to look into what the app is and understand its workflow.
Working on the app:
The app works in two different ways, where one is a wallet, and the other one is the payment bank.
For wallets, the users are allowed to add money via debit card, credit card, or online banking associated with partner banks. Once the money is added, users can pay different bills from the app without any cash. For payment banks, it works just like any other bank. Users can easily switch between wallets to payment banks.
As a concluding thought, the app can be developed in just a matter of some time compared to creating the app from scratch. With the right Paytm Clone app development company like Appdupe, anything from highly scalable business to having maximum ROI is possible. So hurry now!