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With so many applications around us, we get every comfort that we once thought we should get. The world is great with so many applications making our lives easier. One such application is a payment application or a Peer to Peer application (P2P). So basically a peer to peer application is an application made to transfer money or funds from one account to another account. Many companies now look to hire android app developers and other platform developers to start their P2P applications.

Let’s have a look at the key statistics below for the past three years. This shows the increasing popularity of these applications among the masses.

Building a Peer To Peer Payment Application

Building a Peer To Peer Payment ApplicationMobile banking channels increased to 26% from 17%

Building a Peer To Peer Payment ApplicationAlternative P2P services jumped to 15% from 4%.

Building a Peer To Peer Payment ApplicationCheck usage for P2P fell to 40% from 61%

Building a Peer To Peer Payment ApplicationCash Usage fell to 49% from 79%.

Building a Peer To Peer Payment ApplicationPayPal’s usage for P2P payments decreased to 47% from 48%

Peer to Peer is basically of the following types:

Building a Peer To Peer Payment ApplicationStandalone apps

This includes the applications which do not involve a bank as a party. Here a user needs to have some money in the application wallet which is later used in transacting to a person or a group. PayPal is the best example for that however considering even small companies now look to start their payment gateway opens the cheap market to development of P2P applications.

Building a Peer To Peer Payment ApplicationBank centric

This type includes the role of a bank in the transaction. Some of these apps are made by the banks. For this banks hire Best app development companies to fulfil their requirement. While some use third party applications which are secured and trustworthy.

Building a Peer To Peer Payment Application

Let us now understand what features you need to have when you consider P2P application development.

Building a Peer To Peer Payment ApplicationTransfer money to bank: Your app must have the feature to transfer money from your app wallet to a bank. This transaction can occur in free or at a nominal amount.

Building a Peer To Peer Payment Application

Building a Peer To Peer Payment ApplicationCurrency conversion: Currency conversion is one of the most essential feature that a payment application needs to have. At the time of check out or at the time of adding money to the wallet, you need your app to be notifying user of the conversion to a specified currency so that no misunderstanding occurs.

Building a Peer To Peer Payment ApplicationNotifications: Although this is one the most basic feature you need your app to have. Every service that a bank or an app provides will have some due dates for the services. For example: Bill payment due date, new offer for transaction etc.

Building a Peer To Peer Payment ApplicationSend bill/Invoice: Any mobile payment application must have the facility to generate and share invoice between both the parties to are related in the transaction. This feature will add functionality to your mobile payment app.

Building a Peer To Peer Payment ApplicationFingerprint security lock: Most of the applications now are using this functionality. Since it is the first point security when any user opens an app hence it is a must feature to have in your app.

Building a Peer To Peer Payment ApplicationOTP/Unique ID: This is also a common feature that needs inclusion as it provides a 2 or 3 step verification. With this chances are less that someone can have access to your account.

Building a Peer To Peer Payment ApplicationBuy/Sell Cryptocurrency: This feature allows a user to use Cryptocurrency for buying or selling. Considering the future will be based on these features, it is an important feature to include in your P2P application.

The above features are the basic features you must have in your application. Now that leads to the question- Are we secure having P2P applications. I personally think a yes and a No both.

Let us look at the positive side of it. Yes we feel that with new players coming in the market, the Top App Development Companies In USA, UK, and India are going to be the game changer. With great pool of talent in these parts of the world, brands providing affordable services are going to make an impact at the decision making of the companies looking for such apps. Since every company cannot afford to pay million dollars for making an app, we feel the small and mid sized companies will be a game changer in P2P payment apps.

Now the Negative side of it is to be explored as well. I feel that with Cryptocurrency and Blockchain technology evolving, it is undeniable that the future of payment will be secured through these modes. As with Blockchain, the transaction needs to be shared to a group of systems around the world. If all the systems reach at an agreement then that transaction is added to the records.

How Fluper can help your with your requirement?

We at Fluper are a team of 300 minds working to provide the world with great user friendly applications. Our applications have raised millions of funds all over the world with millions of downloads over various platforms. Providing quality user interface and that too at an affordable price, we feel that the next decade is going to be ruled by companies focusing on all these above factors.

Building a Peer To Peer Payment Application


Being a Delivery Head at Fluper, Sukhmander is responsible for the on-time delivery of projects. With its previous years of experience, he has mastered the art of building mobile apps that fulfill the necessities of clients effortlessly. Mr. Sukhmander has become a perfect example of dedication and discipline for all.

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