Mobile App Development

How Much Does It Cost to Develop a P2P Payment App Like Venmo?

P2P payment application development

What do you think a P2P Payment Application is? Well, P2P refers to peer to peer payments or P2P payments, they are the transactions that can be used for anything from splitting the bill between your friends whether on food or drinks for your rent. These payments allow the user to transfer funds between two parties using their individual banking accounts or credit cards through online or mobile apps.

The number of mobile-based P2P payments users reaching 26 million in the USA region alone, the industry is on a very rapid growth rate.

P2P Payment App Like Venmo

The transactional growth of P2P payment market place is mainly the mix of two factors driven by leading P2P payment providers:

  1. User’s involvement in innovative tech
  2. Ease of Doing untimed financial transactions

Venmo is leading the graph of four different P2P payment applications or payment providers. Popularized by the Braintree organization, P2P payment app Venmo with its features is becoming the center of attractions in 2012 when it first arrived.

PayPal when heard that Venmo is leading the market with features and functionalities, and when the stories or Venmo of its ease reached to PayPal, it took no time for PayPal to acquire Braintree and became the name behind it.

But before we move on to the discuss the cost of P2P payment application development or check the estimate the to develop P2P app like Venmo, let’s take a look at the market growth chart that Venmo business model has drawn for itself among its users across the nations and regions its operating.

Out of so many reasons one of them, why Venmo has found a strong and loyal customer base in the P2P payments market, is because of its easy user flow which brings the learn-ability curve.

Let’s take a look on the Venmo User Flow

While this being the simplest skeleton view of the Venmo App of the user app journey, there are a number of features that go behind the development process.

Those features are the answer which goes into forming your answer to the question of how to build a P2P payment application.

App Like Venmo

Some must-have features of Venmo Payment Application:

Make Payment: This is the primary feature of the Venmo like application provides the facility to make payments in real-time. It enables users to make payments to someone they know or you can use it for making bill payments.

Link Bank Accounts: Another important element of a P2P technology like Venmo is enabling its users to link their bank accounts and debit card in the app. This makes it easier and flexible for the user to make payment straight from their bank accounts, without relying on the mobile wallet application.

Venmo Money Transfers: In order to make P2P payment system all the more useful and convenient, you should provide the user the feasibility of transferring the money from their Venmo like the application to their bank account and then from their bank acc to their mobile application wallet.

Purchases: Venmo tied with a number of businesses and websites for enabling the facility of making the purchases on their sites through their mobile application. They created their own API to get the process streamlined.

Data Encryption: This feature in the application deals with creating an ecosystem where the data of the users are protected with such robustness that they become hack-proof.

PIN Code: It’s very important for your application to have a multifactor authentication system integrated. It ensures that your user’s account on the application is secure and that nobody is able to use it when your device is unlocked besides you.

Split Bills: This feature in the application is related to giving your users the ease to split the bills with their friends from inside the application itself.

Now let’s see

How much does the Venmo Like App Development Costs?

There are numerous ways through which Venmo makes money; there are ways that the brand is going to be used more extensively since it is not presently in a highly profitable state.

The feature and security which is required in the applications like Venmo puts, those applications in the category of high complexity applications.

In case the features you use are specific or related to the ones which are mentioned above well the answer to the cost of creating an application like Venmo that is down to something around 90’000k to 120’000 USD.

Well, the range is on the higher end as the complexity of the application demands the returning rate is considerably higher.


The cost of the P2P payment mobile application development depends upon the set of features used in the application and the complexity of the application. The average cost of applications like this these ranges in $100k-$150k. As discussed above the market Venmo own has a reputation due to which PayPal invested in Braintree which runs this application, cost of building this application will be higher as there are bigger brands running so it becomes pretty obvious building an application like these can cost you much.

About author

Ravikant Chouhan, soft by nature and creative by mind. Being an Engineer specialized in Computer Science, he carries similar curiosity for both; technical world and automobile industry. He keeps himself indulged in discovering new things and with this passion and the vast knowledge attained by him has helped the company to grow at a faster pace.
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