Digitization of payment has brought glory to the technological industries, as the method is hassle-free. People need not keep the exact change for the services they avail. Mobile payment apps like the PhonePe clone app help to make several payments easier. People can transfer money, book tickets, recharge dishes, make electricity bill payments, pay for online shopping, etc. The platforms offer payment options for different services, and that aspect made these apps successful. A user can register with their mobile number. The app will require a UPI ID set-up and login and 4 or 6 digital PIN to sign in.
Influence of mobile payment apps like Phonepe
The transactions from mobile payment apps have increased significantly due to their ease. Payment processing is made instantly, avoiding people from the hassle of having to keep cash at exact change ready. The payment through UPI apps has increased since 2019. From 2018 to 2019, there was a massive surge in the need for mobile payment apps. The app usage increased 884% within one year time.
The apps offer payments for multitudinous purposes, making it a one-stop for making payments for multiple purposes. E-commerce services, offline shops, etc., began accepting payments. All e-commerce sites offer the option of mobile wallets due to their ease and increasing popularity.
Overview of PhonePe clone app
PhonePe Clone app is a white-labeled phone payment solution to support app users in making secured payments. It ensures the secrecy of the user’s bank details and transaction details. The app is secured with a PIN to enable the user to maintain their privacy. The app aids in making several payments like water, electricity, internet bills, DTH, landline payments, mobile recharge, either prepaid or postpaid. The developer can develop the application for business-to-business payments alone for the smooth facilitation of payments between businesses. It also supports business-to-customer transactions. The app provides high-quality performance and is glitch-free.
Features of PhonePe clone app
Pay Instantly
Users can make payments instantly from any place and time to any person.
End-to-end encryption
The app is highly secured and ensures the details of the app users are highly protected and do not compromise on security.
Money requests
Users can not only send money but request money from their contacts in an instant.
Debit and credit cards linking
Users can link debit and credit cards of several banks with the app, which facilitates easy payments.
Transactions History
PhonePe clone app presents the users with transaction history and keeps track and manages payments and detailed analytics.
Push notifications
Users receive information regarding new payment, payment success, payment declined, etc.
Shopping
Shop through websites and apps by transferring money instantly.
OTP integration
Users receive OTP for security reasons to confirm the payment through the PhonePe clone.
Money transfer
Users can transfer money from the PhonePe clone app to the bank and vice versa.
App entry security
The app is extra secured; to log in, there will be a PIN or password to be set up. Users can do even a fingerprint authentication to secure the app user’s bank information.
Transaction history sharing
The app enables the user to share the transaction history with their socials for reference through in-app chat.
Contacts synchronization
The app contacts can be synched, and transactions can be initiated easily at an instant.
Advanced Features
Live chats
Users can interact with each other apart from making, receiving payments and transaction history and details.
Schedule payments
Schedule payments before the due dates with the calendar feature on the PhonePe payment clone app.
Geo-location
Locate and personalize using the geolocation services and process highly secured payments.
In-app chatbot
The app is embedded with an in-app chatbot to help solve queries through the app and provide a quick transaction experience.
Bill splitting
The app enables the user to split bills amongst its users for any purchase.
The app list of PhonePe clone payment app
Instant onboarding
Users can register their profile using vital information like email, mobile number, etc.
Bank account linking
Users can connect to their accounts by linking their debit or credit cards to their user accounts.
Send money
Users can send money to anyone by entering the name/ account details of the receiver.
Add money
Users can add money easily into their accounts by the automatic add balance feature.
Check account balance
The users can check their account balance immediately after accessing their account.
Offers and scratch cards
For making payments above a certain threshold, the users receive scratch cards as a reward and offer from other vendors or merchants.
Referral bonus
When users refer the app to their social s=circles to install, they get rewarded with bonuses.
Agent App
Registration
Agents can register quickly and log in with a user ID and password to make transactions successfully.
Access to wallets
By entering basic details like agency name, account details, the agents can access accounts easily.
Receive and send payments
Agents can receive, send, accept and reject payments instantly.
Analytics
View analytical reports to compare transaction history and make better financial decisions.
Referrals
Users can refer the platform to several socials and earn rewards for the same.
Support and query
Make complaints and register queries regarding technical issues or payment issues and receive prompt payment.
Admin app
Dashboard
Admins are provided a centralized system to monitor and control activities.
User management
Admins can effectively manage the entire data and details of the user.
Manage contacts
Admin can manage contacts and evaluate the users, and verify their authenticity.
Block users
The admin can temporarily or permanently block the users if they suspect any unscrupulous or suspicious transaction activity happens via the app.
Manage offers
Admin can manage and create offers and payment deals for the users.
Analytics
The admin can view analytics and view the overall performance of the crucial factors and metrics.
Cost of development of PhonePe clone app- Factors that affect the cost of development
App features and size
The cost of the development of the PhonePe app depends on the size of the app and the basic and advanced features incorporated. Integrating more features increases the app size, making it more expensive.
App launch platform
The cost of developing an app for iOS is more expensive than for android, as iOS needs more testing methods and takes much time and effort.
App developers
The app’s development cost depends on the team size, expertise of developers, geographical location, project manager, etc.
UI/UX design
The design and interface of the app should be attractive and smooth. More attractive design means more cost of development.
Tech stacks
The technology used in creating the app decides the pricing of the app.
Conclusion
Develop and launch an app like PhonePe clone to look for good opportunities to invest in apps due to the high rewarding capacity. The market is moving towards a cashless economy. The more physical cash is evaded, the more these platforms get exposure. Reward your business by launching the PhonePe payment clone app.
