How to win trust for a new money app
By SendPay Business · · 2 min read
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- 2Add proof of address
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People will try a new food app on a whim. They won't try a new money app that way. Before anyone moves money through your platform, they want to know who you are, who holds their money and what happens if something goes wrong. Answer those questions clearly and early.
Say who holds the money
Be plain about it: the accounts and payments on your platform are powered by licensed partners, and you are the brand people deal with. Put that on your homepage and your FAQ, not in small print.
Never call your platform a bank unless it holds a banking licence. It breaks the rules in most countries, and people trust you less once they find out.
Show every fee up front
Hidden fees are the biggest complaint people have about the big providers. Beat them by showing the full cost of every payment or transfer before people press send, including any exchange rate markup.
0 of 3 done
Tick each step as you do it, so you can see what is left.
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.
Be a real person
Put your face, your name and a way to reach you on the site. Answer messages quickly, in the language your users speak. A founder who replies on WhatsApp beats a call centre queue.
Let people start small
Nobody moves their salary on day one. Give them a small first job, like paying a friend back, sending a small amount home or paying one invoice. Once that works, they come back for the next one.
Borrow trust you already have
If your community, trade group or customers already know you, launch to them first and let them tell others. A recommendation from someone they know is worth more than any advert.
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
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.
Do I need my own licence?
The accounts and payments are powered by licensed partners. Depending on what your platform does and who it serves, you may also need your own registration, which you complete through the partners before going live.
How do I show my fees clearly?
Work out what you charge, then check it against what your users pay today. The free calculators help.
Money transfer cost calculator →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.