[SOLVED] How can I build my own Money Transfer app like Google Pay?

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How can I build my own Money Transfer app like Google Pay? Where can I find the resources to build one.`

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Most banks use the UPI for fund transfer. But non-banking companies who provide offers UPI fund transfers; WhatsApp, Amazon Pay, Google Pay, Truecaller or Flipkart’s PhonePe. They’re in partnership with banks, so the UPI based transactions are successful. As of now, so far I’m concerned, you have to make your own company, having all legal documents…app development team…marketing team…and everything you need to complete the making of your company 100% completed…etc. etc. then (partnership with bank(s) for UPI based transactions) only you can make the app (like Google Pay or Amazon Pay).

Furthermore, I hope you do have experience developing an app(It can be either platform-specific like Android, iOS or platform-independent (Web Apps) using Cordova, Phonegap, Titanium)

Payment App mentioned above (Google Pay) is based on UPI which is further implemented using IMPS (via the Banks). You can make a UPI call to banks using API implementation(Refer UPI API documentation)

But catch here is , you need to form a legal company(as I mentioned above) to get the API tokens to have functioning App.

Example:

A basic e-wallet or payment app designs as follows:

Pin or password protected screen

This is the first screen that the users get, after tapping into the app icon. This is usually password or pin protected offer security. Even if the smartphone gets stolen, the thieves will not be able to use this app instantly, until hacked in, to crack the password. This offers the initial layer of security.

Transaction screen

The next screen is the transaction screen, where the users will make the transactions. The users can either scan the QR code of the recipient or enter the recipient’s mobile number to transfer money.

Verification and validation

Once the users confirm their recipient’s payment details and the amount and confirm it, either an OTP verification or pin is required to proceed with the payment.

Confirmation

After the required Pin or OTP is confirmed, the payment is processed successfully.

Success message

After the payment is successful, the user receives a success message.

Check balance

Users can check their bank account balance, using the e-wallets and payments app. Hence the app should be authorized to access the servers of the bank and retrieve the user’s balance of the bank account linked with the app.

I hope, that helps, and this guide took from the most advanced platforms. someone also said > its very long and complicated process to make apps like google pay. already many players are doing good in this field.

Optional: Try Mobile Peer-to-peer Payment App in the World of Electronic Payments

Good Luck! :+1:

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Money transfer among users.

Are you talking about one of these ?

  • Peer to Peer (P2P) money transfer
  • Integrating payment services using Paypal, etc
  • Money transfer functionality for a specific bank

In either case you need a backend to enable this feature and it is highly recommended you refer to the banking norms and legal aspects specific to the geographies you are planning to roll out this application.

You can also check for P2P money transfer APIs like

Apart from the legal and banking policies I would suggest to look into other aspects as below :

From where the money is being transferred - bank account, debit/credit cards, cash points, etc

  • Authentication and Authorization
  • End to End Security aspects
  • Mode of usage
  • Payments & Transfers regulations

Dwolla is a great option for building a P2P money transfer product.

The banking relationships and compliance concerns have already been vetted on their end, so you won’t have to go through the rigamarole of courting banks. Further, their API is pretty well received and documentation has been optimized to be as dev. friendly as possible.

  • Take a look at the documentation here.
  • View some case studies here.

Hope this helps!

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Hi Friend,
Thanks for helping me. I had no idea before reading this article. Now I got an idea on where to start it. Thumbs Up for you. ^^

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Optional : Try Mobile Peer-to-peer Payment App in the World of Electronic Payments
Thanks a lot, Sam. Definitely I will look into this. 1H is simply awesome. Never stop this work. Billions get benefit from this blog. Thumbs Up ^^

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