Did you know that the number of daily digital transactions has surpassed over 500 million? Peer to peer payments apps have become a normal part of a person’s life. One example being —Cash App. 

If you are looking to step into the world of digital payments with an app like Cash App, you need to understand the investments required first. 

The cost to build an app like Cash App can cost anywhere from $50,000 to $500,000 or more, depending on its features, platform, and security measures. 

In this blog, we’ll cover everything that affects the development cost of a P2P app—features, platform choices, compliance, security, and ongoing expenses. 

Must Have Features of a P2P Payment App

The features of your app decide how much it is going to cost to build. A basic P2P payment app that only includes features like authentication, money transfer, or card linking is going to be cheaper. 

But an advanced version with cryptocurrency trading and stock investments will be more expensive.

Here are the must-have features:

User Authentication

Digital frauds keep increasing day by day. This makes secure user registration and authentication systems crucial for any P2P payment app. Your P2P app should allow users to sign up using their email, phone number, or social media accounts.  It should also include authentication features like – 

  • Multi-factor authentication (MFA)
  • Biometric authentication (fingerprint or facial recognition)
  • KYC (Know Your Customer) verification

Peer-to-Peer Money Transfers

The core functionality of a P2P payment app is instant or scheduled money transfers between users.  This feature allows users to send and receive money via phone numbers, email, or unique IDs.  

Along with P2P money transfer, your app should also include – 

  • Real time notification
  • Split payments
  • AI powered fraud detection
  • Payment requests
  • Encrypted transactions

Bank Account & Card Linking

Customers prefer seamless transactions and ease of use in payment apps. That’s why your P2P payment app must allow users to link their bank accounts, debit cards, and credit cards to the app. 

This allows them to add funds, withdraw money, or make direct bank transfers. In addition, integrating APIs like Plaid, Yodlee, and Finicity can securely fetch financial data. 

You must make sure that the linking process complies with PCI DSS (Payment Card Industry Data Security Standard) to protect sensitive card details. 

Many apps also support direct deposit features, allowing users to receive payments like salaries directly into their linked accounts. Instant transfer options (for a small fee) add flexibility for users needing quick access to funds.

Transaction History & Notifications

A detailed transaction history helps users track their payments, transfers, and withdrawals. The app should display transaction dates, amounts, recipients, and payment statuses in an easy-to-read format. 

It should also – 

  • Include filters and search functionality
  • Send out push notifications, SMS alerts, and email confirmations
  • Detect unauthorized transaction
  • Offer spending insights and analytics

A well-organized history and notification system improve transparency and user trust in the platform. 

Security Features

Security is non-negotiable for a financial app handling sensitive user data and transactions. Security features that might affect the cost to build an app like cash app include- 

  • Strong end-to-end encryption (AES-256) 
  • Fraud detection algorithms
  • Two-factor authentication (2FA), including OTPs and biometric logins, adds an extra security layer. 
  • Regulatory compliance (KYC & AML)

QR Code Payments

QR code payments enable fast and hassle-free transactions by allowing users to scan a QR code to send or receive money instantly. This feature is particularly useful for small businesses, freelancers, and in-store payments. Users can generate personalized QR codes linked to their account for seamless fund transfers. 

Furthermore, dynamic QR codes can be customized with payment amounts and expiry times to prevent misuse. 

Features like encryption and tokenization ensure that QR-based payments remain secure. 

Multi-Currency Support

The global cross-border payment market is projected to reach $250 trillion by 2027, driven by the rise of digital transactions and global commerce.

This highlights the growing need for apps dealing in multi-currency transactions. If you add a multi-currency wallet in your P2P payment app it will improve accessibility for cross-border transactions and increase the app’s user base.

The multi currency wallet should include – 

  • Real-time foreign exchange APIs
  • Low conversion fees and transparent pricing
  • Automatic currency conversion

Customer Support Chat

24/7 customer support ensures users get help whenever needed. A combination of live chat, AI chatbots, email, and phone support improves user experience. AI chatbots handle common queries instantly, while human agents resolve complex issues. 

Users should be able to report transaction issues, request refunds, and dispute payments through the chat system.

Adding a ticketing system in your cash app allows users to track their queries, ensuring transparency. Strong customer support builds trust, reduces churn rates, and improves the app’s reputation in the competitive fintech market.

Advanced features that increase costs:

  • Cryptocurrency transactions – Like Cash App’s Bitcoin feature.
  • Stock Trading – If you plan to offer investment options.
  • Bill Payments & Subscriptions – Users can pay bills or set up auto-pay.

The more complex the feature set, the higher the cost to build an app like Cash app.

Factors Influencing Development Cost to Build an App like Cash App

Several factors affect the total cost of developing a P2P payment app:

App Complexity & Features 

A simple app with basic money transfer functionality will cost significantly less than one with trading and investment options.

Platform Selection

  • iOS Only – Costs less but limits user base.
  • Android Only – Slightly more expensive due to device variations.
  • Cross-Platform (React Native, Flutter) – Saves costs compared to separate native development.

Development Team Composition

  • Hiring an in-house team is costlier but gives full control.
  • Outsourcing to agencies offering app development services can be more affordable, especially with offshore teams.

Geographical Location of Developers

  • USA & Canada: $100 – $250/hour
  • Western Europe: $80 – $150/hour
  • Eastern Europe: $40 – $100/hour
  • India & Southeast Asia: $20 – $50/hour

UI/UX Design Requirements – Custom, high-end designs require more budget.

Compliance & Regulatory Requirements – Adhering to KYC (Know Your Customer), AML (Anti-Money Laundering), and PCI DSS compliance adds to costs.

Estimated Cost Breakdown to Build an App like Cash App

App Type Estimated Cost Development Time
Basic P2P Payment App $50,000 – $100,000 3 – 6 months
Mid-Level App (with security & compliance) $100,000 – $250,000 6 – 9 months
Advanced App (with crypto & trading) $250,000 – $500,000+ 9 – 12 months

Costs vary based on team location, tech stack, and features.

Post-Launch Considerations

Once your P2P payment app is live, the real work begins. Ongoing costs are necessary to keep the app secure, functional, and competitive. Here’s what you need to budget for:

Server & Hosting Costs ($500 – $5,000+/month)

Your app’s servers handle user data, transactions, and security protocols. Costs vary based on:

  • User base size – More users require more server capacity.
  • Cloud provider choice – AWS, Google Cloud, and Microsoft Azure offer scalable hosting options.
  • Data storage needs – High transaction volume means more storage costs.

A small app may need just $500/month, while a high-traffic fintech platform can exceed $5,000/month.

Security & Compliance Updates ($10,000 – $50,000+/year)

Payment apps handle sensitive financial data, making them prime targets for cyberattacks. To stay compliant and secure, you’ll need:

  • Regular security audits to detect vulnerabilities.
  • Fraud detection updates to prevent scams and unauthorized transactions.
  • Regulatory compliance maintenance (e.g., KYC, AML updates).

Failure to stay compliant can result in hefty fines or even a business shutdown.

Ongoing Maintenance & Bug Fixes (15-20% of Development Cost/Year)

Apps require constant updates, bug fixes, and performance enhancements to stay functional. This includes:

  • Fixing crashes & software glitches that impact user experience.
  • Updating third-party integrations like banking APIs and payment gateways.
  • Adding new features to remain competitive.

If your app costs $200,000 to develop, expect to spend $30,000 – $40,000 per year on maintenance.

Marketing & User Acquisition ($10,000 – Millions)

A great app is useless if no one knows about it. You’ll need a marketing budget for:

  • Paid ads (Google Ads, Facebook, Instagram, TikTok).
  • Influencer partnerships in the fintech space.
  • Referral programs & incentives (e.g., Cash App’s sign-up bonuses).
  • SEO & content marketing to attract organic users.

Marketing costs vary based on growth goals. Some fintech startups spend millions on user acquisition, while smaller ones start with $10,000 – $50,000 in the early stages.

Cost Optimization Strategies

Are you worried that app development might cost a lot? This is a common concern among brands. But, don’t worry!

If your budget is limited, here are ways to cut costs without sacrificing quality:

  1. Start with an MVP – You can start with a basic version and scale as users grow.
  2. Use Third-Party APIs – There are many services like Stripe, Plaid, and Twilio that can help you reduce development costs.
  3. Outsource Development – You can also hire developers in Eastern Europe or Asia to save 50-70% on cost.
  4. Leverage Open-Source Frameworks – Using React Native or Flutter reduces costs for cross-platform development.

Streamline Development with Supersourcing 

Supersourcing offers a strategic approach to high quality app development at affordable cost. Here’s how:

End-to-End Mobile App Development

Supersourcing provides complete mobile app development services, including native apps for iOS and Android, cross-platform apps, UI/UX design, prototyping, and app deployment on app stores.

Access to Top Talent

Supersourcing connects businesses with the top 2% of tech talent. This ensures that your app development project is handled by experienced professionals.

Cost Efficiency

By leveraging a global talent pool, Supersourcing enables significant cost savings in app development without compromising on quality.

If you outsource your development process to Supersourcing, you can be assured that your end product will be of high quality.

Conclusion

The cost to build an app like Cash App ranges from $50,000 to $500,000+, depending on features, platform, and security needs. A basic P2P payment app costs less, while adding features like cryptocurrency transactions, stock trading, and bill payments increases the budget.

You can optimize costs, by starting with an MVP, using third-party APIs, and outsourcing development. Compliance with KYC, AML, and PCI DSS regulations is crucial to avoid legal issues.

If you’re planning to develop a P2P payment app, a well-thought-out budget, security strategy, and development plan are essential for success.

FAQs

1. How much does it cost to build an app like Cash App?

The cost to develop a P2P payment app like Cash App ranges from $50,000 to $500,000+. A basic version with essential features like money transfers and account linking costs $50,000 – $100,000, while an advanced app with cryptocurrency transactions, stock trading, and high-level security can exceed $250,000. The final cost depends on features, platform (iOS, Android, or both), development team location, and compliance requirements.

2. How long does it take to develop a P2P payment app?

The timeline for developing an app like Cash App is typically 6 to 12 months.

  • Planning & Research – 1 to 2 months
  • UI/UX Design – 1 to 2 months
  • Development & Testing – 4 to 8 months
  • Compliance & Security Audits – 1 to 2 months
     Faster development is possible if you start with an MVP (Minimum Viable Product) and scale later.

3. What security features are necessary for a P2P payment app?

Security is crucial for handling financial transactions. Key security features include:

  • End-to-end encryption for data protection
  • Two-factor authentication (2FA) and biometric login
  • Fraud detection and AI-based risk assessment
  • KYC (Know Your Customer) & AML (Anti-Money Laundering) compliance
  • Automatic logout and transaction monitoring
     A failure to implement strong security can lead to fraud, data breaches, and legal penalties.

4. Can I reduce development costs without compromising quality?

Yes, you can reduce costs by:

  • Starting with an MVP and adding features gradually.
  • Using third-party APIs like Stripe for payments and Plaid for bank integrations.
  • Outsourcing development through platforms like Supersourcing, which connects you with top developers at lower costs.
  • Leveraging cross-platform frameworks (e.g., React Native, Flutter) instead of separate iOS and Android apps.

5. How Can Supersourcing Help You Build a Profitable P2P Payment App?

To ensure your P2P payment app is not just functional but also profitable, Supersourcing provides:

  • Expert fintech developers to integrate revenue-generating features like transaction fees and premium subscriptions.
  • Seamless payment gateway integration to maximize earnings from interchange fees and merchant services.
  • Advanced security & compliance support to build user trust and long-term retention.
  • Custom solutions for cryptocurrency & stock trading to expand revenue streams.