How much does it cost to
build an app like Venmo?

SovTech specialises in mobile app development, iOS, Android, hybrid technologies and progressive web apps.
 

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Why choose SovTech for your bespoke app development?

SovTech is an award-winning software and mobile app development company. With over a decade of engineering experience, along with over 200 tech professionals, we are experts in building custom mobile applications for any business, in any industry.

Our multidisciplinary teams, comprising tech-enthusiasts with elite and varied development expertise, are geared towards building scalable products that service growth-focused businesses. We strive to deliver bespoke solutions that innovate using cutting edge technologies and cloud software at competitive and flexible rates.

venmo logo

What is Venmo?

Venmo is a type of peer-to-peer payment platform. It’s a mobile app that enables sending money easily among friends. No credit card, no wallet, no fees and no nagging for unpaid drinks required. Just link the app to a debit card and spend away

The History of Venmo

Venmo is an American mobile payment service founded in 2009 and owned by PayPal since 2012. Venmo was aimed at friends and family who wish to split bills, e.g. for movies, dinner, rent, or event tickets etc.

Features

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Quick and convenient payments

Venmo's popularity stems in part from its ease of usage. There isn't much of a learning curve. It's free to download and use, and you can start sending and receiving money in minutes. Venmo makes sharing expenses more easier by providing an on-screen calculator when sending or receiving money. You can also send or request the same amount from all of them at once if you're splitting a bill with a group.

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Free

Venmo has no recurring costs, such as monthly or annual fees. Sending money from a bank account, debit card, or your Venmo balance is free. Payment apps charge a 3% fee for credit card transactions, which is usual. There are no charges for receiving money or transferring it to your bank account, unless you choose a quick transfer over a conventional transfer.

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Can pay for purchases at select businesses

Venmo is a payment method that works with a variety of apps and websites, including Uber, GrubHub, Hulu, Poshmark, and Foot Locker. If you're shopping at a store that accepts Venmo, you can use the app to speed up the checkout process.

venmo-mockup-800x600

Platforms

Use Venmo on these platforms:

iOS

Android

Tech Stack

Venmo is built using this tech stack

Python

Node Js

React

Docker

Cost of building an app like Venmo

£65 000

 

Benefits of custom over off-the-shelf software​

While off-the-shelf software might be cheaper to set up, custom app development can be uniquely tailored to meet your specific business needs. Bespoke software is high-quality, built by a team of expert professionals, offering you better and more features than the limited features that are available with generic software.

Our Partners

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Examples of our work

Sureswipe mobile app mockup
MTN mobile app mockup
sola energy software platform by sovtech

SovTech Insights Blog

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DevOps: Winning Practices in Software Development

DevOps: Winning Practices in Software Development

What is DevOps? DevOps describes a system that unifies and streamlines all development (Dev) and operations (Ops) into a more symbiotic relationship to facilitate the process of software development. We outline DevOps software management. In the past, there were two silos, one being the developers (or the creators of the system), while the other being the…

  • Oct 23
Rethinking the Development Process – Agile Scrum Teams

Rethinking the Development Process – Agile Scrum Teams

Rethinking the Development Process One of SovTech’s main service offerings is Developers-as-a-Service (DaaS), a fully managed service which allows for both large businesses and startups to build cutting edge applications for their business through DaaS’s Agile Scrum Teams. I spoke to Edward Vincent, Director of DaaS at SovTech, to find out more: 1. What exactly…

  • Jan 30

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