As the world is steadily growing and moving in sync with technology every day, there are many things changing around us that we would have had no idea about. One such thing that is changing right in front of our eyes is the finance sector. We can easily spot the zero-cash future on the horizon and beyond it as well. They are welcomed by many in this world due to the ease, comfort, and security that they bring.
Oh, and not to forget the popularity of mobile apps. Though there may be many, we are going to look into one of the largest payment processing companies in the US market- the Cash App; you will know about the reasons later.
What is a Cash App?
The Cash App, formerly known as Square Cash, is an app that allows peer-to-peer money transfer service. It will enable people to send and receive money for sharing utilities, to pay back friends, or to split the cost of a trip, etc.
Though this is an available functionality in other digital wallet apps, there is something new and advanced in this app. It is the “cash card.” The app’s wallet functions similarly to a bank account, and this card is proof of it. Using the card, people can make purchases from their Cash App account.
One more critical function is that the app allows users to invest their money in stocks and trade bitcoin. Sending money through the app is as easy as a cakewalk, and you don’t have to be tech-savvy.
Initiate The Lucrative Business Of Cash Clone App Development Now
Why is Cash App considered as the standard model over other similar apps?
As promised at the beginning of the blog, we are going to reveal our choice as to why we chose this over any other P2P payment apps.
The app lets users send and receive payments even if just one user has the account. For instance, if in a small brick-and-mortar store, they don’t have the app, they can still get paid.
Cashcard can be used by the users to pay on any retail stores or e-commerce sites. Just like usual other credit or debit cards, users can withdraw via ATM and credit funds using Apple Pay or GPay.
It allows free international payments.
Users can choose the speed of money transfer and send money from the app’s account to a bank account using a feature called Cash Out. Though the money transfer can take from 1 to 3 days, for instant transfers, they can use the Instant Deposit.
Through the app, users can start their investment by adding some dollars, even from a minimum of $1. The app contains a simple interface using which they can monitor, purchase and sell stocks and Bitcoin.
Using the Boost feature, users can save money while buying specific goods or services from particular categories or particular stores.
Now you realize why we have come up with this topic in this blog, don’t you? Coming to the crux of the blog, we are going to look into what we have in store for you!
‘Alt’ Cash App and ‘Enter’ Cash App Clone
Cash App Clone is an alternative solution to the Cash App, using which people can send or receive data to their friends or families, make purchases at any store, etc. It contains all the features and functionalities of the standard app, thereby ensuring that business owners could benefit from this money-making venture.
It is developed with cutting-edge features that will help you get rid of developing the app with complexities and technical difficulties. We have the roads cleared so that you could travel the success path smoothly!
Though this is a payments-related app and stuff, from your perspective, we understand that you have doubts regarding revenue streams. So, the upcoming section will answer your unasked question.
Lucrative revenue streams of the Cash App Clone
For proper financial software to flourish, there should be a healthy balance between gaining traction and remain profitable as well. When it comes to money transfer applications, monetization is of the question because of the fluctuating commission fee. However, this app contains unique revenue models.
Freemium model: Though this model might be a hard one to follow, it will benefit significantly for any business that is running under the initial phase. Offering a free app attracts people’s attention and thus increases the traction of the app. The standard company, though refrained from posting ads for providing a smooth experience, it’s up to you whether you want to promote ads or not. But anyways, from users’ perspective, they prefer ad-free experiences only.
Commission from payments: Once you know that you have a handful of users that are using your app regularly, you can start charging them for every transaction.
Whenever the user uses the app or a cash card
When they withdraw using the card from ATM
Users can be charged different percentages when they pay from a credit card and when they use the instant deposit feature.
You can also charge a fee for Bitcoin transactions.
These are just the suggestions. However, you can consider adding or removing any models for benefiting from it.
Creating software requires expertise in mobile wallet app development, and it can get quite expensive when you develop it from scratch. However, since Appdupe is an app development company that believes only in making entrepreneurs successful, you can get the clone solution at a highly economical price. So don’t pull over it for too long and reach us.
At AppDupe, we know that our customers are Entrepreneurs and keeping them succeeding is what will make us stronger. So, we promise you, Life Time Updates free of charge. Yes, we know that Apple and Google keep coming out with new versions of their mobile OS's and other companies we clone from also keep updating their features and UX to stay up-to-date. We will take care of that for you, leaving you to do what you do best, Win!
Is this legal?
PicMix and PicYou are almost exact clones of Instagram. MyCityDeal and Wimdu are clones of Groupon and AirBnB respectively. The only thing companies can patent is methodology for achieving an action or leading to an end point. If you can figure out another way to do that, without infringing on other's IP, you totally can. We could, so we did.
Disclaimer: Appdupe neither represents nor have any control over the trademarks of ‘Uber’ and ‘Gojek’. We use the terms ‘Uber’ and ‘Gojek’ for a better understanding of our services. Our offerings intend no harm to any organization or individual.