Making payments or transactions has been a long and tiring process all these days. With the introduction of p2p transaction apps, the table has turned upside down. Our Venmo clone is a peer to peer transaction app that is embedded with the most advanced features for a payment app. Join us and launch your payment app and start earning from the first day.Buy Now Get Quotation
The most prominent feature of our Venmo clone app is to transfer an amount from one person’s account to another directly by eliminating a third party.
The contacts of the user have to be accessed so that the user can simply select the contact and send the amount instantly.
The Venmo clone app comes with an in-app wallet, and the user can transfer the amount from their bank account to the wallet. This helps the user to make swift payments instead of waiting for the bank server to respond to every payment.
An invoice with complete details of a transaction is generated for every transaction done via the app.
The history of all the transactions made by the user through the app is recorded for future reference of the user.
The user is notified of the real-time status of the transactions made. The amount debited, the contact to whom it is sent, and more are notified.
These are P2P platforms that come along with a wallet facility. It allows users to store money in the wallet of the app or transact with their friends or family. All the user has to do is integrate their debit/credit card or bank account details in the app. PayPal and Venmo are popular examples of standalone or discrete payment services.
Today, most banks have come forward with their own online payment apps to ease the transaction process of their customers. In this type of service, every transaction involves the bank, and there is no presence of any wallets. To put it short, all transactions are bank-centric. Zelle and Dwolla are the two popular P2P bank-centric apps.
The need for payment services integrated with social media apps has become prominent as people prefer to send money to their friends and family through chat apps instead of looking for alternative apps. Google and Facebook have already entered this arena as they see it as a mandatory feature for the advancement of themselves.
The usage of a P2P app is numerous. Listing down some eminent daily usages.
Borrowing money from friends is made easy with Venmo Clone
Paying back a loan borrowed from a friend is taps away
Paying your bills for various services can be made through the app
The rent amount can be sent directly to the landlord’s account
The payments for ordering products via ecommerce platforms can be made via Venmo clone
Payment for cab trips is now easy with P2P payment apps
No more worrying about changes. Pay anywhere and everywhere with P2P transaction apps
Venmo clone is designed with a simple workflow so that everyone can cherish its features.
Getting on board with the Venmo clone app is elementary. The users register themselves with the app by using their email address or contact number.
The user links their bank account with the app. The bank account is verified by sending an OTP to the contact number linked with the account. Once the user’s account is verified, it is set for transactions.
As a bank account is integrated with the app, security is a major deal, so the user doesn't lose their money. For this purpose, a security password is set by the user.
The contacts in the user’s mobile device are automatically synchronized in the app. The user simply has to allow the app to access the contacts.
The user has to select the contact they have to make payments, type the amount to be sent, and pay by entering the security passcode set by the user themself.
No customers prefer to stand in a queue and wait to make transactions over making transactions in a few taps. This trait of the P2P transactions app has made the whole population its customer base. It is a matter of ideal marketing strategies and connecting with people to get them on board.
The Fintech industry is one sector that is on a track forward, reaping benefits along its way. It is not going to witness a downfall for some time in the future. With this surge, the potential to explore the advanced features and scaling the business is a cakewalk.
As fintech has been predicted to be soaring high in the future, attracting investments as an entrepreneur is not a big deal. With a good pitch and efficient product, investments will be a cakewalk.
Our Venmo Clone script comes with a package of
One of the conventional methods to generate revenue through a P2P transaction is the transaction fee. The users can be charged a minimal fee either on every transaction or on transactions made through credit cards alone.
Usually, the time period for the transaction of an amount may vary from 2 to 3 days. But if the user insists on instant payment, they can be charged a commission.
The users can be allowed to make payments to online stores via Venmo clone, and a commission fee can be charged for these transactions.
As the first step of the development process, we understand the client's requirements and choose the P2P payment type.
After choosing the type of P2P, we work on the features to be embedded in it to make it more user-friendly and increase user engagement.
When it comes to a payment app, the security offered by it to the user is a vital feature. So we conduct a 360-degree analysis so that the possibility to loot money from an account is null.
The design team starts to create a design that would be professional as well as attractive to the millennial crowd.
The developer's team get their hands on the back-end part to build an app with high-speed functionality and features that increase user engagement.
After developing the app, the testing team runs numerous tests on the app to make sure it is bug-free.
Once the tests are done, and the app is announced to be bug-free, we launch it in the Android and iOS stores.
The applications of P2P payments is diverse, and it has broadened its wings over various industries considering its efficiency in payments.
Both the retail and ecommerce marketplaces have been the most prominent industries that have leveraged the P2P payment apps. The users had been offered several discounts, offers, and coupons for using P2P payment apps. The best part is payments are made instantly, and the customers do not have to carry their cash everywhere. They can just scan in a retail shop, and payment is made.
The event management businesses like restaurants, hotels, theatres, resorts have all started accepting payments through P2P payment apps for the services they offer.
With the introduction of various apps to book rides for transportation and logistics, this is an industry prone to digitalization in the early stages. And most of these businesses have offered access for users to make payments via P2P payment apps for their bookings.
The days of walking to telecommunication offices to make recharges are long gone. All the telecommunication apps have shifted to P2P payment methods so their users can recharge their plans at any time from anywhere.
Every business desires to elevate and expand its business. Turnkeytown understands this urge and supports our clients to upgrade their apps at any moment they require.
Our support team is available 24/7 for our clients. Any issues can be resolved and updated to the clients with no time constraints.
Our Venmo clone is an app that can be launched instantly except for the customizations requested by the clients. This allows us to assist you in launching your app in a short span.
The app is deployed on the server of the customer’s choice. In case the client has no choice, we go by ourselves, deploying it on the best server.
The authenticity of the app plays an important role in the rise of user engagement. Turnkeytown provides a white-label solution designing your app to look authentic and like it was built from scratch.
Accessible on multiple servers with Android application.
Accessible on multiple servers with iOS.
Accessible on multiple servers with both Android and iOS.
Turnkeytown is a futuristic app development firm using the most advanced tech stack