Fintech app development, QFPay Clone App

Build QFPay Clone mobile wallet app or WeChat Pay, Alipay Like Apps to provide your customers with new digital payment solutions

The mobile wallets are gaining more importance day by day. Get into the niche by building QFPay clone an mobile wallet app to make money.

Mobile payments have totally changed the face of the whole world by taking financial transactions to the next level. Beijing based QFPay has a lion’s share in changing the face of China right from the beginning.

QFpay clone app

Klaus Schwab predicted that the fourth industrial revolution will be based on the principle that interconnected cyber-physical systems will facilitate and automate economic interactions and productivity at a measure that was never seen in the previous days.

Even though not all of his predictions came true, the order of economic interplays has drastically glorified. This all became successful because of the mobile payment systems aided by high-speed cloud computing.

Traders and customers can exchange value in more than one way. Now in more than one location and much faster than ever. A company accountable for a driving appropriation of this technology in Asia is Beijing-based QFPay. This company is a mobile fintech firm that provides a much smarter payment cloud solution. This fintech firm is the business platform for traders.

QFPay is the biggest global partner of WeChat Pay and Alipay. The company enables these companies to process payments to traders across the world. The company was founded in the year 2012. QFPay was first launched in China and is known for its QR code-based technology.

The products of the fintech company cover end-to-end online and offline mobile payment solutions and like food ordering and loyalty programs. QFPay company claims that it has served over 1.2 million merchants and processed over 1 billion transactions.

ZeroBank is the QFPay’s way to establish a secure, seamless and powerful money exchange system relying on blockchain technology.

The company has smart agreements and a sharing economy model. The company has a trustworthy and professional partner in the field to get success much faster by bringing such an innovative system to life.

QFPay attends over one million traders in China, offering them point-of-sale terminals that allow e-payments to be taken from intelligent devices. There are other mobile payment services like Apple Pay and WeChat Pay in China.

QFPay is currently existing in 13 country markets. These markets are situated in cities of Cambodia, China, Hong Kong, Indonesia, Korea, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Japan, and the United Arab Emirates.

The co-founder and CEO Tim Lee gave a statement that they have built their track record, know-how and expertise in this industry right from the time when they were launched in China. China is also which is named as the birthplace of digital payment. The company was very excited to help lead the cashless movement in the rest of Asia as the demand for digital payment. They knew that the QR code payment method is the most popular one.

Fundings Rounds of QFPay: Why QFPay Clone is Profitable solution?

 
The digital payments startup QFPay declared that it has raised $20 million in a new funding round led by yielding investors Sequoia Capital China and Matrix Partners. The investment arm of state-owned Indonesian telecom Telkom Indonesia, MDI Ventures, Rakuten Capital and VentureSouq also joined as new diplomatic investors.
According to Crunchbase, this funding has led QFPay’s total fundings to $36.5 million. The fundings are going to be used to develop new digital payment products.

Benefits of developing a mobile wallet app like Alipay or QFPay:

 

Basically, apps like QFPay are a platform to provide backend service to any other mobile-wallet provider. Developing such apps can help you to reach a large customer base of many other apps as the payment-wallet apps can be linked to other applications. Such apps can enable payments in several currencies and even in offline mode.

» Other advantages of mobile wallets like QFPay

 
A mobile wallet app presents you with a virtual mobile-based wallet for saving your cash, permitting you to make mobile, online and, offline payments. It offers a myriad of benefits. They are as follows:

Ease of Use
You can pay with your mobile wallet is just a matter of one click. You can easily link your credit/ debit cards, bank accounts details into the wallet. The details will be protected to allow you do transaction hassle-free anytime in the future.

» Unlimited Facilities:

 
As there is e-wallet with you, there is no need to carry the physical wallet with you. Your e-wallet brings all your credit card information as well as records like your driving license, etc. In fact, some applications also allow you to shop and seize discounts under the same roof.

» Seamless Transaction:

 
The functioning of E-wallet is so quick that you can immediately transfer money to anyone across the globe.

» Better management:

 
The mobile app developers say that a wallet application offers the opportunity to interconnect the bank accounts, credit cards, mobile accounts, bills, etc. At the same time, the app can manage your financial transactions in a better way.

The mobile wallets with all their benefits are clearly the future of every business. The new technology makes the transactions effortless for the customers and helps them in being loyal to your business.

Why should you choose our white label solutions for mobile wallet development?

 
There is a great increase in the use of mobile wallets in the daily lives of many people. We provide a QR-based payment option in our white label solution to make your transactions easy and fast. Being your technology partner we provide absolutely safe and secure ways of payments that you can rely on. Our mobile wallet can be used for payments during retail transactions and is really advantageous for your customers.

Which features do we provide in our white label solutions?

 

With our white label solutions, you get an arrangement where you can integrate the merchants into one platform to make their payment transactions seamless.

We provide a QR code that needs to be scanned before adding someone and making the payments. This makes the payment process smooth and secure eliminating the risks associated with the fraud.

There is a middleware system or the admin module to handle the payment transactions of the users, merchants, and banks. We use the blockchain technology to provide better security for your mobile wallets.

Which third-party components are added to our mobile wallet development?

 

With our payment service, we enable the transactions with every bank. So, an absolutely secure third-party payment gateway is integrated with the mobile wallet which can be directly used to make the transaction from all banks.
A unique QR-scanning code is integrated for each mobile wallet that we create. A robust third-party facility to generate QR codes is integrated with the payment service.

Another technology called the NFC or Near field communication is used for offline payments. The users just need to tap on the card that is already synchronized with the mobile wallet. This connects with the nearest POS machine to enable payment transactions smoothly.

» Some of the exciting features to add in your mobile wallet:

Along with Security and App Performance which are the most important features in an app dealing with money. You should consider some unique features to include in your mobile wallet which can make it stand out.

» Rewarding System:

It is a proven deal that rewards can excite and captivate customers effectively. This is a feature that is a must to add in every mobile wallet.

You can reward your users by either providing cashback or a little money to be deposited in the user’s bank account to their surprise. This feature is very likely to make your app the most popular in very little time.

» Budgeting Tool:

Budgeting is an additional tool that you can integrate into the mobile wallet to provide your users with an easy way to keep a check on their spendings. Using this tool the customers can monitor the give and take and the money that they are spending on a daily or monthly basis. This will help your customers to plan their finances better.

Apart from all this, we can help you out with defining a business model for your business. We can even define the process of you getting into this industry with a fresh start. Connect with us and schedule a free consultation session in order to discuss further regarding mobile wallet development.

A basic chart for P2P payments app development cost is as follows:

Related Blogs