Remember the times when people came to the bank to perform simple, elementary financial transactions? Thank goodness it’s over now as we know how to build money transfer apps and you can quickly charge your smartphone or send a friend the money you owe for movie tickets.

A transparent and collaborative payments ecosystem is needed today. The conservative approach to universal money transfer app development disappears when millennials and Gen Z enter the scene.

During the first quarter of 2021, leading digital payment and money transfer apps reported 31 million user downloads in Europe, up nearly 35% from the corresponding quarter last year. From early 2018 to early 2021, downloads of the most popular mobile payment and finance apps such as PayPal, Klarna, and Western Union grew steadily.

They want quick and easy solutions for their day-to-day work — no paperwork or queues. If the bank doesn’t offer an easy solution, they will look somewhere else.

https://code-care.com/blog/how-to-make-a-money-transfer-app/