Complete guide to building an application for payments and transfers

Mobile payment apps have been steadily growing in recent years for users. It’s a great convenience for making payments, accumulating funds, and initiating transfers. Really, apps are digital wallets that offer them all the convenience for money transactions. With millions of users joining the rage of mobile payments, app merchants predicted that the total revenue of the app industry would increase by billions as a result of the growth of fast payment and transfer applications.

Obviously, this is a good time to invest in an app like this that will serve as a digital wallet!

This article provides a complete guide to getting a personalized payment application.

Basic functionalities required in a digital application

Secure user registration: The application requires users to provide identity verification and essential credentials such as a user ID, such as a password.

Secure information database: Users should provide and store information such as account details, credit / debit card details, payer account information, and more.

Wallet support: Users can access their digital wallet at any time by linking to a credit / debit card, bank account or other eWallet.

Other features that a payment app should have include a refund generator, payment or invoice receipts, push notifications, and third-party API integrations.

Step-by-step guide to getting a payment application ready

Decide on the platform you want

The payment app can only target iPhones or Android phones or both. The target user group should be decided according to intensive market research. This means that you need to analyze the usage data of Android and iOS devices in the country and then focus on what you get higher market share. However, if you have a long budget, targeting both segments with a cross-platform app is a wise thing to ever get to know a particular user.

Wireframe design

You are well acquainted with the concept of your application. It will act as an intermediary for a mobile user to transfer funds to another person’s wallet or account. In addition to allowing peer-to-peer payment, invoices, movies / flight tickets, purchases, etc. It will also help pay. Designing a wireframe for such a comprehensive application is one of the first steps in development. hours. You’ll see what the app will look like and what it will look like.

Develop an API to connect users to service providers

The next step in developing a third-party payment application is to get an API with interfaces between mobile users and service providers, billing portals, shopping malls, and so on. The hours required to develop the API depend on the number of third-party support or service providers required in the application.

Find a reliable payment gateway service provider

With the development of the API, you need to find a reliable operator who will provide payment gateway services to ensure all the payment processes started in the app.

Designing the application

Very simple and straightforward designs can help your payment application grow in user base. The easy-to-use design will help it retain users coming to its app. So consider designing this app with great simplicity, but with an engaging approach.

But most of all, you need an expert mobile app developer who will be skilled enough to integrate the API and payment portal into the app.