Exclusive attributes of a P2P payment app like Venmo

With the rapid growth in technology, the approach towards doing business has changed completely, so is the way transact money. Visiting a bank, waiting in long queues, and looking after all transactions can be avoided completely now. The digital method of transacting money has been accepted and used by people in almost every country. People prefer the digital peer-to-peer payment apps as it offers convenience, security, and allows instant payments. You can also launch a P2P payment app like Venmo for your users in the market. But, get to know the major attributes that you have to include in the app:

In-app wallet:
Allow your users to build an individual digital wallet and add their funds to it when required. Users should be able to add or withdraw money from their wallets when required.

Instant transfer:
Users must be able to receive or transfer money from their bank account or wallet instantly to other users. They should have a search option to find users who are not available in their contact list.

Request money:
Users should also be able to remind other users about a payment or request money when needed.

Send invoices:
Business owners can make use of this attribute to send bills and invoices to their customers from time to time. The billing process will become easier with this facility.

In-app alerts:
Payment status, bills, money requests, and more should be sent to users via push notifications, text messages, etc.

One-time passwords:
Users must be able to transact using OTPs due to security purposes. The transaction should be initiated only after the authentication is complete.

Payment history:
Your users should be able get access to the complete list of transactions by navigating to the history section of the app.

Wrapping up!
With the list of aforementioned features, you can also add other premium attributes to stand out from your competitors. Hire the best set of developers and business experts and initiate the payment app development process right away.