PayPal was one of the first entrants in the P2P market, and today it is a leader and pioneer in the space. Today, many businesses worldwide are using PayPal as their payment service provider.

1. Title: How to build an online payment
app development like PayPal?
PayPal was one of the first entrants in the P2P market, and today it is a leader and pioneer in
the space. Today, many businesses worldwide are using PayPal as their payment service
provider.
PayPal has some distinctive features that set it apart from its counterparts. PayPal typically
serves as a merchant account and a peer-to-peer payment system gateway. With Pandemic
on the edge, it is the right time to create an app like PayPal.
Recent studies have shown that 3 out of 4 Millennials regularly access one or more online or
mobile P2P payments. It is not surprising that users prefer to send money with just a few
clicks and a swipe. Unprecedented advances in technology and innovation, such as NFC and
Biometrics ID, have made digital wallet solutions more self-reliant.
This confirms a significant demand in the market for developing PayPal applications or
something like that. Investment for fintech start-ups continues to flow freely, with growth
expected to reach $ 336 billion by 2021. So, what do you need to do to make a similar
application like PayPal and make sure it succeeds?

2. Steps to create an app like PayPal
With the decision to create a peer-to-peer payment applications like PayPal, you will need to
follow these steps:
1. Project scoping
Outline the project's scope, which should include provision for creating web, iOS and
Android versions of P2P applications. Key features required in the project are opening user
and merchant accounts, online payments, transaction/balance reporting etc.
2. Select the appropriate SDLC model
Launch with an MVP model that targets a limited set of specific geographies and features.
Finally, you can upgrade the app step by step as you get more feedback from the market.
3. Come up with a strategic planning to growth
You can choose between PaaS or MBaaS platforms for web and mobile apps, respectively.
Key features can be applied here using SDK and API. Use IDES and frameworks to speed up
the project.
4. Hire agile team
Agile projects require agile techniques. Hence, ideally, there should be a good team
consisting of a group of business analysts, UI designers, web developers, Android
developers, iOS developers, testers, and project managers to handle your p2p payment app
development.
5. Work on cloud computing
Cloud computing come in handy for start-ups who don't want to invest in a ton of IT
infrastructure immediately. To roll the development ball quickly, managed cloud services can
provide ready-made features such as infrastructure, networking, servers, storage,
middleware, operating systems, and runtime environments.
6. Get an online payment solution
To create a PayPal application, you need the API / SDK solution. It can be implemented as
part of the main online payment features. With this built-in solution, you can start the online
payment process immediately. These platforms are generally compatible with the web,
Android, and iOS.
7. Sign up for the CRM solution
Once your P2P application is developed, you will need to integrate it with a full range of
business activities. For this, you need an efficient CRM solution.

3. 8. Buy bulk SMS solution
Like deploying an application, you want users to stay connected to it. Push notification is a
clever way to achieve this goal. You need to include a bulk SMS solution that allows you to
send continuous push notifications to your users.
9. Proceed with the test
Before launching your web and mobile application, you should test it on multiple browsers
and devices.
10. Develop your web app
Once the SDK / API and development tools are numbered; You should continue to develop
your web application. It is recommended that you use JS for code to make the web
application more scalable.
11. Design UI for Mobile Application
Make sure your user interface is simple and easy to use. Choose the navigation structure
carefully and match it with the appropriate icons, colour schemes and themes. Also, make
sure it captivates your user base in terms of visual sensitivity combined with smart
technology.
12. Android App Code, Testing and Deployment
Once your Android app has gone from the drawing board to the developer's hands, you can
speed up the coding process using Kotlin, a powerful, feature-rich language. Integrate the
SDK/API into your code. Test your app and get ready to deploy it on Google Play Store.
Essential Features of the Peer-to-peer Payment Application
Following is a list of recommended features you need to include when you build peer to
peer mobile money transfer app.
1. User Digital Wallet
Your P2P application should include a digital wallet space where your users can store their
card data.
2. Send and request money
It is a fairly simple feature where users can send or request money from other users on the
same platform.
3. Send Bill or Invoice

4. Users will use the camera on their smartphone or tablet to scan bills and invoices and share
them with other users. In addition, you must generate an automated invoice in any
transaction at the individual level.
4. Push Notifications
you should send push notifications to credit and debt funds. They should also act as a
reminder, for example, the due date of payment of your electricity bills etc.
5. Unique ID / OTP
To perform any financial transaction through the P2P application, the user must verify and
confirm their Unique ID and OTP (One-Time-Password). You will check the transaction by
scanning the fingerprint alone.
6. Transfer to Bank Account
you should develop the app with a feature that allows the user to transfer money on one
platform and in a bank account or card.
7. Multiple currencies and automatic conversion process
The application should be compatible with the feature where users can send or receive
money in multiple currencies globally. The inclusion of a mechanized currency converter can
be really helpful as the whole process of conversion rate depends on it.
8. Track Payments & Check History
Users should track their financial history - exact time on payments, dates and applications
received and sent. To validate and scale this feature, you need to send weekly or monthly
emails notifying users about their updated financial transactions over a given period.
9. Chat
If users want clarification on payment, then introducing a chat facility will be beneficial. It
will also enhance user experience and a competitive edge to your application. In addition, it
will reduce the number of possible errors.
10. Messaging
Sometimes users may need to add details to their transactions. You can do this by
introducing a messaging feature.
11. Admin Panel
This feature is more relevant to the owner of the app. There is a need to create a web admin
panel that will help the owner manage, edit, delete the application etc.

5. 12. Secure Network
Security is paramount in payment applications as there is a high risk of data transmission
and storage being compromised. Blockchain technology can come to your rescue here to
help you take advantage of peer-to-peer networks.
Final thoughts
With Peer-to-peer apps being the new trend, you will not be wrong to invest in a PayPal app.
All you need is to hire the right company to build peer to peer mobile money transfer app.
Author Bio:
Shahid Mansuri Co-founder Peerbits, one of the leading offshore
development team provider. With his guidance many companies hire
offshore remote developers team from Peerbits for their complex and
customized projects. His years of hardwork, dedication, and
experience has helped him in developing profound expertise for a
wide array of technologies, tools, and platforms. He believes in
sharing his strong knowledge base with learned concentration on
entrepreneurship and business.