Wallet, account or payments app: which should you launch?
By SendPay Business · · 2 min read
- 1Your card appears in your app
- 2Tap it to pay in a shop
- 3See every payment as it happens
"Money app" covers very different products. Some hold money like an account, some are mainly for paying and sending, and some help businesses get paid. Picking the right kind first saves you from building the wrong thing.
An account app
People keep money in it, get a card, and use it for everyday spending and bills. It suits you if your people are badly served by the banks they have today, or struggle to open an account at all. Monzo and Nubank are well-known examples.
A wallet
Quick to open, used for paying, topping up and sending small amounts, often from a phone number. It suits places and groups where people pay by phone more than by card. GCash and M-Pesa are well-known examples.
Try it
Name your platform and watch it come to life
Type a name, tap a colour and pick what it does. The phone changes as you go.
Colour
What it does
Design and preview your whole platform free, then launch when you are ready.
A money transfer app
Built around sending money from one place to another, often across borders. It suits you if your people send money home regularly and complain about the cost. Wise and WorldRemit are well-known examples.
A payments app for businesses
Helps sellers get paid by card, link or bank transfer. It suits you if you serve shops, freelancers, trades or clubs who chase money. Yoco and SumUp are well-known examples.
How to choose
Ask three questions.
0 of 3 answered
Tick each question once you know your answer.
How it works
Your own money app- 1Name it and pick your colours
- 2Choose what it does
- 3Launch when you are ready
Why sign up
Create your free SendPay account
It's all about creating your own financial platform with ease. Start with a free account today.
- 🪪A free business accountOpen it in about a minute with your business name, email, password and mobile. No card and no documents to start.
- 💳Get paid from day oneTake card payments, and share your own payment link and invoices so customers pay in a click.
- 🌐A free business websiteFree to build, free to publish and free to keep, with unlimited visits.
- 🚀Your own financial platformDesign and preview your whole platform free, then launch when you are ready.
SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
Questions people ask
Is there a quick way to decide?
The free quiz asks a few questions and suggests an app type for your people and country.
Which money app should I launch? →Can I start with one and add another later?
Yes. Many apps start with one job, like payments or transfers, and add more once their first users trust them.
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 launch. Your platform can be live on your own domain within 24 hours of confirmation.
Build my platform →Read next
Spotted a mistake or something out of date? and we'll fix it. How our guides are made
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. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.