A payment platform app for the financial technology sector is an application that enables people to send and exchange digital currencies. Payment platform apps for finance are useful for individuals who want to transfer funds to friends or pay bills online, but they may also be used by multinational corporations to make international payments.
Payment platform apps are similar to many financial services apps, including banking apps, trading apps, and cryptocurrency trading apps. Some of the most popular payment platform applications today are Square, Venmo, Stripe, and PayPal.
App using Stripe Connect as the engine for creating a new payment system. Stripe Connect will be a web app for freelancer community. Will display reports and dashboards not currently offered from Stripe. A bit similar to Venmo or Paypal, but with custom reporting and dashboard for users.
A payment processing app for student loans. Customers sign up on the app who have existing student loans and pay through a points system.
A payments app has to grow its user base by acquiring users from other payment apps. In order to do that, a payments app must offer a service that is significantly simpler and more secure than other payment platforms. As a payments app grows, it can expand its services based on the needs of its users. New features might include biometric security features, low-cost international money transfers, and a digital wallet for storing rewards.
A financial technology app that provides payment services or facilitates transfers of money between parties can be subject to a wide range of laws and regulations depending on the nature of the app. It is recommended that you consult local, state, and federal regulatory agencies to determine how your app will interact with existing financial regulation.