How to grow your payments app with money transfer shops
By SendPay Business · · 2 min read
On many high streets, the money transfer shop is where people send part of their wages home, often in cash and often every month. Shops earn a fee on each transfer and usually sell phone top-ups and other services too. A payments app that makes their transfers quicker and cheaper can win these shops, and the loyal customers who come back every month.
Talk to money transfer shops
Ask local money transfer shops:
- Which countries do your customers send to most?
- Which providers do you use today, and what do you earn per transfer?
- How many customers come back every month?
- What else do you sell alongside transfers?
Make regular transfers quicker
Customers who send to the same people every month can save their recipients in your app, so each visit takes a minute instead of filling in a form again.
Let customers send from home too
A customer who sets up at the counter can also send from their phone, while the shop keeps earning on the customers it brought in.
Grow through community networks
Transfer shops serve communities that talk to each other. Win a shop trusted by one community and word spreads to the next shop and the next.
Build it
Create your own financial platform.
Pick a template, name it, brand it, preview every page before you pay. Your brand, your users, your fees.
Build my platform →Questions people ask
What about mobile money agents?
The mobile money agents guide covers shops where people turn cash into digital money and back again.
Mobile money agents →What does a transfer cost customers?
The free money transfer cost calculator compares fees and exchange rates side by side.
Money transfer cost calculator →Can I call it a bank?
In most countries "bank" is a protected word you can only use with a banking licence. Call it an account, a wallet, an app or a platform. The accounts and payments behind a SendPay Business platform are powered by licensed partners.
Is there a step-by-step plan I can follow?
Yes. The free launch checklist takes you from picking your people and naming your app to setting fees, going live and winning your first ten customers.
Digital bank app launch checklist →How do I start?
Pick a template, name it and preview every page before you pay. Your platform can be live on your own domain within 24 hours of confirmation.
Build my platform →Read next
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.