Banking and fund transfers have never been this easier before decades. After the advent of the internet, we were introduced to net banking. But, even internet banking has its challenges, like people have to wait for days to receive the money from the other side. People have to stand in a long haul queue to get their deposits done.
Owing the usage of smartphones among people made entrepreneurs think of an advanced solution. Thus, it has led to the introduction of money transfer apps. Through these apps, people could easily transfer money to anyone across the globe.
How have money transfer apps changed the way of transactions?
Money transfer apps or mobile wallets came into existence to help people transfer money effectively. The concept of money transfer apps is quite similar to ATM cards. Earlier, banks followed an age-old process, where people had to wait for a long time to deposit money. When banks realized that it is not easy to manage people, they came up with the idea of ATM cards. People can debit their money whenever they want those machines.
In the same way, mobile apps were launched to minimize the work stress of the banks and people. Through these apps, the users can transfer their funds without any cards and passbooks. They will initially link their bank accounts to the app and use it to send or receive money from other users. Apart from money transfers, the users could also recharge their mobile phones and pay their bills like electricity, water, gas, and many other utility bills.
How do these money transfer apps work?
The money transfer apps come with utmost security that the users can secure with passwords and fingerprints. Their process is simple and user-friendly. Initially, you need to download their application and link them with your bank account to get started with them.
Some of the benefits of money transfer apps are as follows,
When people choose to transfer money to someone else abroad, they spend considerable charges on the agencies. But in these apps, the transfer fee is quite less for them to afford.
To transfer your money through money transfer apps, all users need to have is a smartphone and a good internet connection. They are simple and easy to operate. They can transfer their money to anyone across the globe in a blink of an eye.
The money transfer apps are extremely flexible in that they provide various options for you to transfer money. While sending money through the app, it will list you various options. If the receiver has a bank account, you can directly transfer the money to their account.
Sending funds overseas is never a big deal with these apps. If the receiver does not have an account with the bank in the other country, the sender can transfer the money, and the receiver can visit physical institutes to receive the money.
If the receiver uses a mobile app, the send can directly send money to his app. The amount will reach his wallet.
The app will list multiple currencies, and people can choose one from that. The app will calculate the exchange rates, and then the sender can proceed.
Money transfer apps collect nominal fees when compared to other means of transferring funds. This makes people prefer these apps for their fund transfers.
Money transfer applications are the easiest and convenient way of transferring money. These apps do not have any boundaries that people can transfer money to anyone across the globe. In the present scenario, mobile wallets and money transfer apps have become the most preferred method for transferring money.
‘Go with the trend’ is the mantra for a successful business. When money transfer apps or mobile wallets remain so popular among people, this will be the right time to set your venture into it. At Appdupe, we offer white-labeled money transfer apps with pre-built features. Our ready-made apps will support you with any level of customization. With our ready-made money transfer app, you can set your venture in no time.
Enticing features of our money transfer app
Easy sign in
This is the first and foremost step for the users to get started with the app. So, we have designed this feature to sign in easily by entering their email address, phone number, and social media address.
Digital wallets or e-wallets are the best way to store money in a payment app. This will help the users to pay easily, and they can also manage their budgets effectively.
This is one of the important features of a financial application. The users can track and check the transactions they have carried out. They can also monitor their real-time data and available data through the app.
Our app features an option where the users can check their balance and know the transactions they have carried out. This will help users to know how much they have transacted in the app.
Send or request money.
The users can send or receive money effortlessly through the app. The app will provide various currency options for the users to select. By selecting the options, they can send their funds to other people. The receivers can request money from the users through the app.
The app will send instant notifications to the users to keep them updated about the app. It will notify the users whenever someone has sent and received money through the app.
The perks of technology and the internet are the sole factors for all the changes around us. Mobile apps have completely changed the way we carry out things. Now, it’s time for you to adapt to the changing scenario. Contact us soon and let us discuss your money transfer app development.
Hurry up soon and grab the opportunity to launch your Mobile Transfer App
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