4 Engaging Features of Zelle Banking Startups Should Consider to Develop Peer to Peer Payment App

Are you planning to invest in the online finance world? Herein we have curated 4 essential features to develop peer to peer payment app like Zelle, Venmo to engage users to your online payment platform. Let’s dive in and know more about the features and digital payment market.

An empty wallet is no longer an excuse for not giving your share of the restaurant tab. Traditionally, for peer to peer payments, we use to write cheque or stand in the ATM line to avail money. But, now with the advent of apps like Venmo, SquareCash, Zelle, there has been a growing trend of commerce to evolve beyond p2p payments. 

According to Business Insider, mobile P2P users are expected to reach $86 million in the US, within the next 2 years. Currently, there are 69 million online payment users which are predicted to grow by 126 million by 2020 in the US. 

The total transaction value in the digital payments segment amounts to the US $4,769,370m in 2020. It is expected to show an annual growth rate of 12.0% during the forecast period of 2020-2023. It is all resulted in the total amount of US $6,699,201m by 2023. 

If you are planning to develop peer to peer payment app and that also a bank-centric solution, you should consider some essential features before investing in the online banking software solution. 

Being an Android app development agency, we have developed a fair share of online payment apps. PayNow for Stripe is one of our favorites. This app makes card payments easy, fast and secure. In fact, it supports NFC tap payment and also fills the card details automatically using a smartphone camera.

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We came across leading Venmo alternative, Zelle, that is providing users with a fast, safe, and easy way to send money to friends and family. Over time, the app for online payment became popular among users. Let’s take a close look at the mobile payment app. 

Zelle App: Peer to Peer Payment App

develop peer to peer payment app

Image Credit: Zelle

  • The best online payment app is leading the ewallet segment by partnering with leading banks and credit unions across the U.S. It facilitates users with a direct money transfer from one bank account to another. 
  • The finance app allows the money being sent over to go straight into your card with no holds, no fees, no hassle at all. 
  • A user can send payments via the digital payment platform with just an email address or mobile phone number. They can either do the mobile banking apps of the network’s banks or using the standalone Zelle app. 
  • The app like Venmo is getting constant engagement over time as it is providing a secured open banking experience with few verifications like a phone number or in-app password integration.

develop peer to peer payment app

Our finance app consultants have studied some features which will help you develop peer to peer payment app with seamless user experience. Consider these when investing in your p2p app idea.

4 Essential Features to Develop Peer to Peer Payment App

  1. Send or request money by providing access to the contacts

    When planning to develop peer to peer payment app, the major concern of every user will be secured online transactions. The online in-app payment can be done through an email address or by integrating the concerned person’s contact number. 

    The easier way is by providing direct access to the contacts. As with email addresses, one might enter the wrong address manually, and will eventually not retain the app for longer use. With contacts, the users just have to add them directly when they want to make a payment. Thus, it only needs a one time tap to add the contacts for future payments too.

    develop peer to peer payment app

    Image Credit: Zelle

    Such a feature creates an intuitive user experience and is convenient for people to navigate easily in the payment app. You can also integrate a one-time password for the app. When planning an enterprise finance app solution, you need to give an individual identity in the form of a password to every user. For more such information and clarity you can discuss with our app consultants.

  2. In-app receipt or memo generation

    We as humans are very skeptical when it comes to giving money. Whether it is an online or offline world, we check the amount and the bill before finally checking out of an online platform or a brick-mortar store. 

    When you are aiming at providing an online banking facility, you need to provide them with proof in the form of the online receipt or memo. This will work for both the parties, for the business as well as the user. You as an owner will be able to keep records of the online transactions, and the users will get their assurance of money transferred at the right place. 

  3. Allow users to have a peak on their transaction history

    Do you remember the price of a dress purchased 3 months back? Not every time, right?

    Allow your users to scan their online accounts by browsing their in-app transaction history. This will release their stress of memorizing their expenses and incomes. To develop peer to peer app, provide them to enter manual information on their processed transaction, so when looking back in the history they can remember for what did they paid. 

    Thus, this feature will give seamless navigation in the app and user satisfaction with such a facility. We at Space-O Technologies have mobilized many industrial sectors like finance, banking, health, retail. But the finance industry has a big scope when we talk about the p2p platform. 

    Over time, we have studied some interested regions when it comes to “online payment.” India, UAE, Kuwait, Qatar, Srilanka, are topping the chart and are engaging more in such online banking activities. 

    develop peer to peer payment app

    These stats do make investing in mobile payment app development more appealing. If you are planning to invest in mobile banking apps or any finance app you can target these regions for better and fast expansion of your online app development.

  4. Keep notifying users with notification alerts

    This helps users to know their payments, in-app offers (movies, shopping coupons), without opening the app. You can remind your consumers through a pop-up on their screens about a payment received, or a due payment, this helps in brand recall too.

    When integrating this feature, you need to keep in mind that the users should not be annoyed by such notifications. You will have to work on its timing, frequency, content, as it is not wise to state long messages frequently on one’s screen. 


There are few good mobile payment apps like Venmo available and there is always room for improvement. Learning from the best virtual payment app and implementing it to develop peer to peer payment app would take your app a notch higher. 

After reading about features, you may have a clearer idea about how to make a money transfer app that users prefer. You can cross-verify your idea with us, we are an eminent Android app development agency and iOS app development company. And have developed seamlessly running apps for iOS, Android and web platforms. 

In any case, if you still have any query or confusion on how to develop peer to peer payment app, app like Venmo or Cash app timeline, app development cost breakdown, best fintech apps, how to make money with an app idea, then feel free to connect with us through our contact us form. One of our sales representatives will get back to you and resolve your queries.

Author Bio
Bhaval Patel
Bhaval Patel
Designation: Director (Operations)

Bhaval Patel is the Director (Operations) at Space-O Technologies. He has over 20 years of experience in business management and sales. He has expertise in taxi booking app solutions and on-demand applications. Under his guidance, Space-O has developed 50+ Uber-like taxi apps on both iOS and Android platforms.