The mobile payment apps are the new normal for making payments. Tech titans such as Amazon, eBay, Rakuten, and Flipkart have all experienced the phenomenal power of mobile app payment.
All the credit goes to the tech geeks who have seamlessly integrated payment technology to consumers’ smart-phones and gadgets. They have genuinely revolutionized online businesses.
( Ref Image: Image under development)
You can say, the mobile payment apps have restored the buyer-seller trust that had faded due to banking surcharges, geo-locations, and delay payments. Not just enterprises, even customers are applauding the benefits of the mobile app payment like - getting cashback offers, rapid transactions, no additional fees, and tracking payment history.
List of some leading payment apps in the USA are:
Note: The information mentioned above is subject to change as per the app provider’s policy and updates. Few app providers can exceed payment limits for the business transaction, which may or may not be mentioned here.
What does it take to build an app like this?
Openxcell completely understands your entrepreneurial drive as you ruminate over this question to figure out - what it takes to build an app like this. If you are familiar with the basics of building an app that Openxcell has addressed in previous questions- like undertaking necessary research, building an MVP, choosing the right framework for app development, etc. it becomes far easy to reach your interim goal.
Now, let's get straight to common strategies for building a successful mobile payment app.
There is no fixed estimated cost to develop such an app as it depends on what technology or platform the app will be developed. However, the average cost could be anything between $18000-$1,38,000. Considering the current innovation in technology, it seems, the online payment is going to get bigger, quicker, and better for business enterprises, going forward.