Venmo Alternative: Start Developing Your Own P2p Payment App
None might have thought that contactless payments can be made with just a few taps in smartphones. But with the evolution of payment apps, transferring funds can happen just in a blink of an eye. Now people can carry unlimited funds and transfer them securely at any time from anywhere. Getting into p2p payment app development can help you go with the trend and also set your footprints in the profitable fintech industry.
The Venmo alternative solution is a robust mobile payment app with advanced features just like that of the parent app. The Venmo clone app can be customized according to your business needs. If you are an entrepreneur looking ahead to develop a Venmo clone app, it is vital to know how the app works.
Workflow of Venmo Alternative
Users undergo a registration process by entering their basic information to create an account. This is a one-time registration process upon which the users can log in easily.
Upon successful registration, the users can sync their bank account with the mobile payment app. This is a very important and secure step.
Users can sync their contact list to the app, which displays the name of the peers available in the app from their contact list.
Now it is all set to go! Users can now select the peer from the contact list or use the advanced search bar to find the user. Once selected, users can now send unlimited funds instantly.
Users can also send money requests to the person from whom they are waiting to receive funds. The money request works as a reminder as well as makes the money sending process easier and precise.
Once the payment is made, users receive rewards. Every transaction made through the app is noted in the transaction history to view anytime later.
To wrap up,
The fintech industry is consistently facing an upstream, and no downfall is expected in the future. Therefore it is high time to develop a Venmo Alternative and excel in your business.