How to develop a payment app like CashPay?

Updated on Jan 23rd, 2024

How to develop a payment app like CashPay

Nowadays, nobody holds much money. Individuals make a payment through cards or choose payments from mobile application. And when someone misses their home, they can transfer money online instantly with an e-wallet application as well as carry out daily transactions with convenience. The globe is progressively slowly towards a future of zero cash. In general, in the form of various payment systems that allow individuals to send and receive cash in real time, there is no need for cheque-books or withdrawals from ATMs. In current trends, mobile payment applications indicate their increasingly rising graph. For a convenient purchase, the popularity of mobile devices allows such payment applications. The transactions on mobile applications are secure, efficient, and quick. According to Statista, the number of mobile proximity payment users globally is predicted to surpass over 1 billion by the year 2020.

Mobile payment applications drive us all into a world that is paperless, card-less, order-in-one-click, and pay contactless. They speed up and optimize anything like, sending money transfers, booking variations, spending management, bill splitting.  Fintech is revamping our e-wallet applications, cryptocurrency networks, payment applications and what else. And one day we’ll sober up to a fully Bankless globe. Don’t laugh; it’s already started to be.

The demand for such applications is on another level. A market that has raised so much that it became a fierce opposition for the players of other industries and a perfect business plan for the many entrepreneurs who are trying to pursue their steady growth. Now the key question to which many entrepreneurs are still having trouble finding an answer is how to develop or how much would it cost to develop CashPay Clone App?

Well, here the struggle stops, we’re here to answer these common questions. In this blog, we will address the CashPay app analytically, discussing not only what the cost structure of CashPay looks like, but also its challenges that make your app popular.

But, let’s start with the basics first.

What are P2P payment apps?

What are P2P payment appsP2P stands for person-to-person or peer-to-peer which means, without the involvement of numerous financial institutions (e.g without third-party interference) an individual can make payment via mobile app. Such apps come with lots of benefits like:

  • Lowered transfer fees.
  • The capacity to execute money transactions from any device (if there is an internet access).
  • Streamlined access of all transactions history.
  • 24/7/365 accessibility.
  • Pay without account.
  • No cost transactions.
  • Quick to check recipient-related information.
  • An opportunity to accept or send a payment wherever, according to internet connectivity.

Today, there are various payment applications available in the market, and one of the most popular apps is CashPay. Well let’s move forward and discuss the benefits of CashPay and the reason behind its popularity.

Benefits of CashPay

  • Lesser charge – P2P money transfer solutions are way cheaper than conventional solutions offered by banks, and CashPay will be no exception.
  • Worldwide transactions – In 190 countries worldwide, CashPay facilitates transactions, even peer to peer foreign financial transactions.
  • Ensures supreme safety – CashPay believes that security comes first, as well as a concerted effort to safeguard its user’s financial transactions. Later, we will speak more about the concrete steps that the organization is taking.
  • Ideal tariffs – CashPay guarantees that their business provides excellent exchange rates that their users will be satisfied.
  • High payment speed – Not all depends on CashPay, as we informed you previously, but the organization does its best to accelerate the whole process to the point. And in many ways, it works.
  • Great feedback – Satisfied users are the greatest evidence of the performance of the application, and CashPay has it. The amazing figures of thankful ratings speak for themselves, don’t they?
  • Vendor and small business owners can build, distribute, and share their own exclusive tags and receive payments from non-cash customers.
  • The direct deposit facility for withdrawal of payment checks is also available free of charge.
  • The debit card service is offered for hassle-free payments and cash withdrawals.

As you see the benefits CashPay’s offer to their users, it’s time to develop your own. Let’s go ahead and discuss the steps to create an app like CashPay.

How to develop an app like CashPay


1. Decide the platform first

It’s important to decide the platform for your payment app from Android or IOS. It is indeed up to the marketer to determine which platform is the strongest. The app’s consumer group is determined on the basis of extensive market research, in particular. The application can also be built based on the IOS or Android or for both. Select the appropriate platform and develop the application for extensive commercial use on the basis of the project budget, investment, and intended audience.

2. Must have features

So let us discover the features you could use to create your payment app like CashPay as efficient as practicable. To cause instant conversions, the features ought to be distinctive one, but what are the features you need to build an application like CashPay?

You can go with these basic features like:

  • Purchases.
  • Money Transfer.
  • Account setting.
  • Share payments.
  • Request money.
  • Link other accounts.
  • Point of sale (POS).
  • Pin code.
  • Split Bills.
  • E-ticketing.
  • Social Feed.
  • Sync contacts.

But who uses basic features in this highly competitive world. Switch to below mentioned advanced features to stand out from your competitors.

  1. Distinct identification – The user provides a OTP “One Time Password” at the time of every payment. The password must be checked in order to allow the payment to take place. Or for greater security, you may offer them a fingerprint solution. Since we all know, the possibility of unauthorized access comes with every digital platform. We need to ensure that our data is safe and unaltered. In the coming section, we will cover the security aspect under the blockchain section. So keep reading.
  2. eWallets – We have to hold a physical wallet everywhere we go under the present monetary system. The act of holding it wasn’t much of a hassle because, thanks to the ATM card scheme, however we always have the propensity to misplace it. It’s just not feasible with the idea of eWallets. Users can still access it from other phones or computers even if the user lost his/her phone. The data is stored in the cloud and the user has the ability to access it from anywhere at any point of time with his/her ID and Password. In your eWallet you simply need to hold a certain number.
  3. Push notifications – Use this feature any time a payment is requested or received to inform your app’s user. And also any improvements made to his/her wallet, the user will be informed about the operation. Even for coming bill payment dates have custom alert schemes, because they’d be notified of the events without making them set, this would be of immense benefit to the app’s users. Planning schedules in the middle of hectic weekdays also becomes very difficult. That’s why this feature is the most demanded feature of payment apps.
  4. Payment History – Under this feature, users can check bank statements to verify their past transaction records. What application had been there for that? Therefore without leaving the safety of our homes, checking history would be far more comfortable. We’re not supposed to have to go to ATMs or ban to draw mini statements. On the user’s end, it will minimise both effort/expense.
  5. Chatbots – When conducting out a payment, a user could have multiple questions. The user might want to get some questions answered well before making a simple transaction. Offer them a chatbot service to fix this. One that would automatically get all the concerns answered. This would increase the happiness of the app’s user and therefore contribute to higher conversion rates.
  6. Transaction limit – The user limitation for sending payments is pre-decided. But through this feature users can lift this limitation and make a more relaxed transaction experience. In order to use this feature, users need to validate themselves by providing a full legal name, last digit of their SSN number, DOB, and OTP received on a registered mobile number.
  7. Currency Conversions – The currency varies across countries and currency rates often differ. Plus if users want to trade in foreign country, users really do need to convert his/her currency. If you can do this with an app service, then at any time they arrive in some foreign land, users won’t have to run to currency conversion centers. Plus, without looking for it on Google individually, they will be able to check the currency exchange rates over any currency.
  8. Crypto-currency conversion – In the financial market, cryptocurrencies are expanding fast now. You might have heard about bitcoin or digital assets. They are nothing but digital alternatives for current market currencies. Your user can trade in these and would often also use the same to trade. Provide them with a service where digital currencies can be used instead of conventional legal bids. Throughout this manner, you can connect these users to your clients or to expand it.
  9. Blockchain – For sake of this point, we are assuming that the blockchain system is common to you. Now though, all you’ll have to understand about the blockchain is that it’s a public ledger scheme where all the history of P2P transactions is logged. It’s an eternal and safe way of preserving the record of a payment. Including this particular feature to your payment app like CashPay would not only make it much more feature-rich, but it will make it safer. The permanent digital ledger keeps track of all the payments that occur, and also minimizes the probability of any fraudulent activity.

That’s it for features, if you want to integrate more advanced features in your application then contact a professional payment app development firm and tell them your requirements, they will build for you. Moving on, let’s go and discuss something more interesting.


3. Select the right Tech Stack

Picking up the technology stack majorly depends on the app’s nature, since yours will be a payment app, your developer would use a tech stack something like this.

  1. For android – Java, Kotlin, Node JS, ROR, Laravel.
  2. For IOS – swift, Node JS, ROR, Laravel, fabric IOS.
  3. Cloud – Amazon AWS, MS Azure.
  4. Payment gateways – PayPal, Stripe, Braintree, Mangopay.
  5. Push notifications – Twilio, Amazon SNS, MAP.
  6. Database – MySQL, MongoDB, Redis.
  7. Other stack – Sketch, Xcode, GeoFence, SASS.

For a more detailed tech stack, request your quote.

Going with the best features, using the best technology stack won’t help you to make your payment app best in all classes. Development is not a child’s play; it requires a team of professionals like:

  • UI/UX designers.
  • Backend developers.
  • Front end developers.
  • QA engineers.
  • Project Manager,

Some important points to consider

  1. Security – Just like CashPay, a payment application is important to have top-notch security. This is the greatest challenge faced by each software development company. To ensure protection, a developer must build a secure data management system.
  2. Exchange – The payment application deals with national and global exchange rates. The development team can find it hard to convert currencies in real-time. The initial step must be taken by service providers to resolve this obstacle while developing the application.
  3. Privacy – The developer of the application must build the application with maximum security. The payment protection includes the client, vendor, third party system, and buyer information. Therefore, confidentiality of personal information is so much important.

Now let’s discuss the main part which you’ve been waiting for “The Cost”. So here we go.

How much does it cost to develop a payment app like CashPay?

The features and functionality CashPay has, it comes in a category of complex applications. The cost of developing an application like CashPay depends on various factors like Platform to be used, features and functionality, geo-graphical region of development firm, tech stack and plenty more. Keep in mind that an application with basic features is less complex and as well as costs less compared to the application with the advanced one.

In case if you go with the basic features as mentioned above, then the cost to develop an app like CashPay will come down to something around 55K to 70K dollars and 80K to 120K dollars for the application with advanced functionality.



The demand for mobile payments is still rising and it is expected that the majority of payments will be hassle free and cashless shortly.  According to the report by Allied Market Research, that by the year 2023 payment transactions globally will produce more than 4 trillion dollars.  And now that we understand that payment applications are actually the market’s latest app phenomenon, you won’t be wrong if you go forward and take the risk of developing a payment application, but you may need little help with all of that.

At Matellio, we have a team of qualified developers who are extremely skilled to produce consistent solutions in the market. Under the ideal schedule, their year of hands-on development experience ensures professional service. Our experts will assist you in every step and keep you updated with the development process. Have a payment app idea? Feel free to contact us; we would love to help you.

For further information, visit our website

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