Let’s talk about your project

Let’s talk about your project

NL, Amsterdam

Ildar Kulmuhametov
CEO, Co-Founder

USA, Austin

Yevhen Piotrovskyi
CTO, Co-Founder
Clients say
Lisa Ross, VP of Experience & Tech, Avenue
Yojji has delivered an accessible product with thorough consideration for the client's requirements. Users have commented on the platform's user-friendliness and speed. Moreover, the team is easy to communicate with and provides frequent updates. Their development and design skills are impressive.
Noam Nevo, Co-founder of OSU
The client considers Yojji a fully integrated part of their team. Their resources show a high level of skill, professionalism, and organization. They participate in daily meetings, are able to work independently, and can offer input on project scopes when asked.
Alon Zion, Former Co-Founder
Yojji was an instrumental part of the client’s team, working closely with them to achieve the product’s success. The team was very collaborative and timely, and their performance was amazing. Additionally, their resources were experienced, professional, and enjoyable to work with.
Back to all articles
07 December 2021
6 min to read

The digitalization process has long penetrated the financial sector, and the niche of cashless payments is no exception. What is the peer-to-peer (P2P) payment? These money transfers are cashless, card-free, and utilize contactless payment technologies to send money in one click. Therefore, payment terminals and ATM cash withdrawals are in the past, while cashless money transfers are the future.

Today, there are various mobile peer-to-peer applications, but we will focus on the global leader in the niche - Cash App. We will dive into various facets of Cash App and describe the characteristics that make it a revolutionary product in the fintech vertical.

What Is Cash App?

Cash App is an innovative mobile solution available on App Store and Google Play that enables users to transfer money in one click. Besides, this application allows users to buy and sell Bitcoin; this feature has increased the app’s popularity and revenue. According to statistics, Cash App has 36 million monthly active users and over 100 million downloads.

Cash App’s Advantages

What are the features that made Cash App payment successful? There is a plethora of them, but we will point out the main ones.

  • Users that don’t have an account can use the app for money transfers. This is a fast and convenient way for businesses.

  • This application provides a virtual card, called Cash Card. Users can pay at online stores using a Visa debit card number. Besides, users can not only pay online but also withdraw money from an ATM (the limit is $370 per one transaction, and the fee is $2).

  • International and national money transfers are available for free.

  • Users can make either an instant deposit or transfer funds from their account in the app to a bank account and choose the payment speed (1-3 business days).

  • Cash App allows its users to buy and trade Bitcoin.

  • This app allows saving money when buying services from various categories or goods at certain stores.

How Are Financial Operations Secured?

Applications that provide cashless payments, pay special attention to the security of users’ data. So, what features must be implemented to prevent fraud and data theft?

  • Login to the system is carried out using Touch ID or pin code. Besides, two-factor authentication is added.

  • If suspicious activity is detected, messages and push notifications are sent to the user’s phone. Also, messages are sent via email.

  • Users can optionally choose to receive push notifications after each transaction.

  • All payments are protected with the PCI DSS data security standard. This standard is accepted by Visa, Mastercard, and American Express, and it makes sure all the transactions are as safe as possible.

  • If the card is lost, card spending is instantly frozen.

What Does It Take to Create a Cash App?

A mobile app is developed in several steps. We will briefly highlight them.

  • Analysis

    At this stage, two parties discuss the requirements and make up a road map to have a clear view of the steps that should be taken, the choice of the technology stack, and the estimated time required for project implementation.

  • Design

    User interface (UI) and user experience (UX) designers make sure the product looks and functions its best.

  • App building

    The back-end and front-end developers work in sync to implement all the features your app needs and make sure they function as expected.

  • Quality assurance

    QA engineers perform manual and automated testing to analyze the app’s operation and security.

  • Deployment & Maintenance

    After your app is deployed, a team of experts provides ongoing support to solve any issues that may occur.

Cash App: The Monetization Model

Cash App has several revenue sources, namely:

  • It charges a transaction fee (2.75% per card-based transaction and 3.5% + $0.15 for each no-card transaction).

  • The fee for transferring money from the Cash App account to the bank account is 1.5%.

  • Every bitcoin purchase comes with a fee - 1.76%. This scheme is considered the most effective business model.

How Much Does it Cost to Build a Peer-to-Peer Payment App Like Cash?

The cost of an application depends on various factors, such as application features, team size (you’ll need developers, data engineers, designers, QA analysts, PMs, marketers), tech stack, location of developers, and app design. All these factors are subjective, but our ultimate recommendation is that you should get an MVP to test the core functions of the app, test the market, and analyze the user feedback before building a full-fledged application. Here is the list of basic features a Cash App clone must have.

  • Fingerprints scan and security code verification (~60 hours)

    Security is the core of any financial software, and these functions make the payments fast and secure.

  • Money sending and requesting tool (~80 hours) & Virtual card, account, and wallet (~160 hours)

    A money transfer feature and inbuilt personal electronic wallets are vital for the app because they make up core functionality, so they can’t be ignored.

  • Account setting and activity monitoring (~24 hours)

    An app must send notifications to its users, provide a function to monitor transactions, link to social media profiles, edit profile information, etc.

Don’t forget that a designer will spend approximately 100 hours on the basic features, and a QA team will need about 100 hours to make sure your app works as expected.

So, considering all these factors, we can predict that the process will last for about 3-5 months, and the cost is calculated individually. If you are interested in developing an app from scratch, our experts will analyze all the details and create a comprehensive list of functions, describe the development process, and come up with the cost of your project. You can always contact the Yojji team to clarify the details you are interested in.

Bottom Line

If you want to transform your idea into a successful business or you have decided on a P2P application integration in your company, contact our managers. Yojji has extensive experience in delivering cutting-edge financial applications that will drive your company to success.

Have an idea?
Let’s work together


Fill out contact form or call us. We’ll set a call or in person meeting for free consultation.


We discuss your project even if you have just an raw idea


We choose a model and approach that are suitable for your case and budget

Meet up in person

NL, Amsterdam

Ildar Kulmuhametov
CEO, Co-Founder

USA, Austin

Yevhen Piotrovskyi
CTO, Co-Founder