Digital transactions have influenced people’s lives in a significant way. Especially, it eases the process as there is not much need for them to visit banks in order to transfer money to another person. Here comes an online payment app. This not only benefits the users but also gives a wide range of benefits to the investors and business people. Are you the one who really has an interest in developing an app like PayPal? Go forward with choosing a PayPal Clone. Beforehand, know its functionality and cost of development in this blog.
What Is A PayPal Clone?
First of all, know what PayPal Clone is about. It is a pre-made payment app solution, which is a functional recreation of the existing app - PayPal. It is quite the similar one in terms of features & functionality. Moreover, this app solution can be highly customized and rebranded based on the needs.
Let’s look deeper into the workflow of an online payment app like PayPal
Prior to going ahead with PayPal Clone app development, you should have knowledge about how an online payment app works. Here it is! Have a glance at it.
Install The App And Complete A Registration Process
The initial step is the users have to download and install the PayPal Clone app on their device. Then, they have to continue with the app prompts to finish the registration process.
Include Necessary Details
After the initial setup, they have to fill up the required basic information alongside they have to add their bank details. They have the option to add multiple bank accounts and choose the one primary one for transactions.
Account Verification
The added bank details will be verified. It is the complete responsibility of the platform owner (admin) to verify the account. After the verification, the users can see the homepage in which they can proceed with the following steps.
Payment Transfer
Now, they can search for other users who are using the app. And, they can invite them if using the invitation link sent through social networking or messaging platforms. Now, users can send or receive money.
Invoice Generation
Upon making a payment transaction, the app would generate an invoice as proof of transaction. Furthermore, they can check the transaction history and balance.
Conclusion
With the knowledge of how the online payment app works and the factors determining its cost for development, you can surely think about launching your PayPal Clone app. To proceed further, contact the company and discuss your requirements.
