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What Is a Payment App?

Mobile payment app development allows you to perform most financial transactions directly from your smartphone. However, some users still prefer to stay at the checkout and do not trust unstable technologies. In this regard, NV presents a selection of the most popular online banking applications in Ukraine.

With the payment system development, hundreds of millions of Internet users around the world no longer need to leave their homes to pay for any services or transfer money to another account. Those who were the first to figure out all the intricacies of digital payments are now turning over millions of dollars without taking their fingers off the screen of a smartphone or computer mouse.

But, in addition to various binary options, trading platforms and cryptocurrency exchanges, electronic financial systems greatly simplify the life of even ordinary users who cannot in any way reduce their monthly debit to credit.

Therefore, targeting different audiences in money transfer app development and taking user experience into account are the main advantages of mobile banking. Online applications for managing your own money accounts will help not only those who are tired of buying flights through third-party services, but also those who need to scatter the rest of their salary on credit cards.

How Does a Payment App Work?

The service is built by on RFID systems and creates two-way communication between two end points. Previous systems were unidirectional. NFC applications were first used in devices running Android 4.0..

Best payment apps

There are several NFC-compatible smartphones currently available as a result of payment app development, such as Google’s Nexus series, Samsung’s Galaxy Series, and the iPhone.

Currently, such NFC programs for Android use this technology:

  • Android Pay,
  • Samsung Pay,
  • Visa payWave,
  • MasterCard PayPass,
  • PayPal,
  • LifeLock Wallet,
  • Square Wallet.

Let’s take a closer look at these running programs.

Android Pay

Android Pay is one of the most popular digital wallets in the history of mobile payment app development. Anyone with a smartphone app can pay with a simple tap on the point of sale terminal, which has near-flight or NFC connectivity. The list of countries supporting Android Pay has grown over the past two years. There are many vendors and companies like PayPal that have teamed up with Android Pay to take advantage of the touch and pay app functionality. In fact, many retailers now provide customized payment apps.

Android Pay

Samsung Pay

Like Apple Pay, Samsung Pay’s NFC payment software also uses biometric authentication and authorization to process contactless payments. It is necessary to configure in advance which confirmation method will be used.

Visa payWave

It is a very popular choice when it comes to payment technologies without contact. Visa payWave allows users to pay by simply swiping their phone near the terminal. There is no need to insert or scroll the card. The payment is then authorized, processed and paid in a secure manner. All you need to do is make sure that the bank participates in Visa payWave for mobile services and that the smartphone has an appropriate application for payment.

MasterCard PayPass

Contactless payment service (also supported by Google Wallet). MasterCard PayPass is an NFC “contactless” payment application that has features similar to American Express’s ExpressPay and Visa’s PayWave.

MasterCard PayPass


It’s one of the most popular and well-known systems. It can be easily downloaded to the device and then all the transactions can be done from your phone.

LifeLock Wallet

It is an identity theft protection service that was created 7 years ago. it’s easy in use and popular solution.

Square wallet

It is available on iOS and Android platforms. In it’s work it’s similar to Lemon Wallet, but there are some principal additional features. The user can link their credit card to the app, but instead of paying directly with a credit card, the service requires the use of merchant cards.

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