Updated on 02.03.26
The world has been heading to digitalization in all spheres of life for decades and the pandemic boosted this trend dramatically. No wonder that in 2021, (update for 2022 about cash app) a credit card to debit card transfer app is considered a good investment and business CEOs start to pay more attention to the niche of cashless payments. Even though the banking industry transforms at a great pace, MWDN experts track the trends. This guide follows the same practical approach MWDN uses in fintech builds, shaped by the experience of Vitalii Vystavnyi (Managing Partner) and Mykhaylo Merkulov (COO).Let’s find out how to build an app like Cash App and how much time and money this might take you.Building an app like Cash App now means planning for tighter compliance expectations (KYC/AML), higher security baselines, and faster iteration cycles. Product-wise, P2P payments are still the core, but teams typically compete on trust (risk controls, transparency), speed (instant transfers), and expansion paths (card usage, investing/crypto rails, and partnerships). Use the steps below as a foundation, and treat compliance + security as first-class features, not “later”.
Of course not. For example, Cash App also assists with C2B payments. Moreover, they also have a Cash App Investing service that allows clients to buy a share of any company at the stock market and trade Bitcoins. Your business model and core features of your application are up to you, however, creating a P2P application is easier, faster, and cheaper than founding a top-to-bottom banking platform.
Venmo was founded in 2013 and soon after it became a PayPal subsidiary. In 2019 it had 40 million clients. How does Venmo work? Some basic features there are free, such as creating a Venmo account, sending, and requesting money. Venmo app has focused on UX, making it easy to use and highly functional. Link an app to your debit card, and you are ready to send money online or make other transactions with your funds.Another successful cashless bank app is Cash App, also known as Square Cash. With its help, customers can transfer money knowing their peer’s card number, phone number, or email. Afterward, money can be withdrawn through ATM via a special visa card called world Cash Card. y Q1 2025, Cash App reported about 57 million monthly transacting active users, and the platform continued to scale in inflows and product usage.
How to make a new cash app that will stand apart? Analyze your target audience and meet its needs. For example, Venmo and Cash App are convenient to make regular payments (to a landlord, for example), split the bill, or send money on request. 
The final price of your app will always depend on the functionality you need. On average, outstaffing companies charge $40 to $60 per hour of their software engineers’ work. Along with developers, you will need designers and QA specialists. As a rule, a peer-to-peer payment app MVP development takes from three to nine months. This means that in total you might spend from $25,000 to $200,000 for an app.Total cost is driven most by scope + compliance (KYC/AML), security work, and the complexity of money movement (cards, instant transfers, integrations). Treat the range above as a starting point, and validate it against your feature list, risk requirements, and rollout plan.If you want to calculate the exact price of your P2P application, feel free to contact our managers. MWDN has experience in creating financial applications and is always here for you to transform your startup idea into a successful business.
