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How Much Does It Cost To Build A Payment App Like ZainCash?

author Written by Shikha Sharma on Dec 27, 2022 | Updated on: Dec 27, 2022 1402

According to the McKinsey & Company Insight on understanding trends and opportunities in the world of payment; cash payments have dropped considerably, and the number of people who prefer to pay digitally continues to grow.

Based on Statista.com report on mobile POS payment (worldwide), the number of users is expected to amount to 1,936.5m users by 2027. 

Digital payment users worldwide

Completing purchases through smartphones has been part of everyday life across the globe. Since government authorities across the globe brought the concept of digitalization or online payment, people have gone digitally tremendously. 

This key change also reduced the carrying of cash or buying things using paper money. As a result, FinTech companies are developing more and more payment applications or P2P payment apps for end-users, agents, and in between. 

The most recent and one of the most popular peer-to-peer (P2P) payment apps is ZainCash (based in Iraq)

What Is ZainCash? 

ZainCash is a licensed mobile wallet in Iraq. Primarily, it is a mobile-based payment application that enables registered users to pay and send money via a QR-code mechanism as well as electronic mediums. 

The app accumulates a host of on-the-go payment solutions such as paying your bills, booking tickets, recharging your mobile, shopping, and many more. 

The unique thing about payment apps like ZainCash is that it lets you cash in and cash out from thousands of ZainCash store agents across Iraq. 

Additionally, Cash-in services can be used directly from the agent or from Visa Card and Mastercard. National Bank of Iraq (NBI) holders can cash in their wallets directly from their bank account.

In the context of Cash-out services, users could cash out by going to the nearest ZainCash agent or using ATMs. Cash-out processes can be done through ZainCash mobile application. 

What makes Zain Cash so popular? 

  • The new Iris scan technology grants users to transfer money safely and securely. 
  • The cash distribution feature has simple rules and is popular among refugees and IDPs. 
  • Establishing extensive mobile network coverage so reaches remote as well as camp areas. 
  • Many Iranians use mobile devices. They can make payments and shop online with the help of ZainCash. 
  • The community improves its management and introduces new features frequently to better make the lifestyle of the people. 

What Services “Payment App Like Zain Cash” Offers? 

Headquartered in Baghdad, Iraq, it is licensed by the Central Bank of Iraq. Currently, it has more than 4000 agents across different cities in Iraq that provide users with fast and easy cash distribution services along with many more. 

Payment app like ZainCash accumulates a huge user base because of the services it provides with ease and comfort. Some popular services offered by ZainCash through its mobile apps are: 

Top Up Zain Cash Wallet: Registered app users can load money on the ZainCash wallet either through using any one out of 4000 agents or using VisaCard and Mastercard. 

Money Transfer: Send or receive money via contacts or electronic medium instantly anywhere inside Iraq boundaries. 

Mobile Recharge: Tie-up with many network providers, users can easily recharge their prepaid line or networks in Iraq, anytime and anywhere. 

Easy Cash-Out: Using the mobile app interface, users could instantly cash out either from agents or through ATMs. 

Gaming Digital Goods: It’s their premium services that help you buy digital goods for gaming, apps, and other genres. 

Pay via QR-Code: Pay for your purchases at any outlet or store by scanning QR-code. 

Ironically, the app provides more services. The above are just some examples to make you aware. The app is available for both platforms i.e. iOS and Android. 

Features Of Zain Cash Mobile App Development 

ZainCash mobile app development poses several features. Ranging from money transfers and digital wallets to cash-in and preview transaction history. The app is very popular and used by more than 10 million people and counting.

Incorporate these features in your Payment app development like the ZainCash idea. 

Zaincash app development features

1. Digital Wallet

It is a critical feature for any payment mobile app. The digital wallet enables users to receive, pay, and store money easily. The transactions conducted through these mediums are in general, faster and more secure. These wallets are associated with payment card tokenization features from MasterCard or Visa. 

2. Send & Request For Funds 

Iraq's leading payment application, ZainCash can perform two key characteristics such as sending and requesting funds to other users. Upon request, the person gets a notification in the app from the user who needs cash. 

In order to create a robust payment app, consider this feature and present it in your app.

3. Transaction History

Through the transaction history, users could be able to preview their past transactions with date and time. To make it more intuitive, provide more details such as payment made between parties with name and account details including the scope of assistance if needed. 

4. Pay With QR Code

Payment app like ZainCash’s QR code feature lets users pay for goods and services along with a cash-out feature. Simply by scanning the QR code displayed at the merchant or agent’s store, the user could easily cash out within a second. 

Implement this innovative feature to make your application stand out. 

5. Digital Goods

Digital goods are a kind of premium service provided by ZainCash. It lets users buy digital goods for gaming, apps, and more. Examples include PUBG, Apple, Google, PlayStation, and more. 

6. Virtual Visa Card 

ZainCash offers virtual reloaded Visa Cards for online shopping. This virtual card enables easy and safe shopping. Users could activate it instantly and get fast notifications and statements for purchases. 

Incorporating this feature would make your app popular. The key concern is finding reliable and supportive institutions that provide fast technological solutions related to this scenario. 

7. Bank Linking 

This feature enables users to experience banking functions inside the app. It is like bringing a bank into your hands. Help in fast ZainCash wallet top-up along with other rich services that make life easy. 

8 Push Notifications

The app uses rich push notifications that feature sending quick messages related to promotions, discounts, new arrivals, hot deals, etc. Other than promotional, the app also sends instant messages about transactions conducted on time. 

Incorporating this feature isn’t hard. Take help from an app development company or basic app developer implementing these features. 

Additional Features To Consider

Iris Scan Technology 

ZainCash app development users Iris scan technology to prevent fraud. It also facilitates users to pay for goods and services worry-free and prompt secured money transfer service. 

This technology is also known as EyePay. To implement this feature, it is important to integrate Iris scan technology. The function prompts Iris to scan the registered users before sending money to other users. 

Intelligent Chatbot 

Instead of a traditional chatbot, AI chatbots are intelligent and are affirmed to improvise the user experience. An e-Wallet app with a chatbot helps users conveniently interact with your app and resolve queries if any. This also eliminates appointing humans to manage chat with customers. 

Implementing this advanced feature could help make your Payment app like ZainCash user-friendly and convenient for users. 

High-End Security

ZainCash app accumulates unique ID and one-time password protection features. This helps users to securely transfer money and pay to merchants without the worry of cyberattacks or fraud. 

Along with integrating Iris scan technology, it would be beneficial to introduce this feature. Allow users to confirm the Unique Identification Number or One-Time Password (OTP) while making a transaction.


Also read: How Much Does It Cost To Develop eWallet App


Top ZainCash Competitors (Best Zain Cash Alternatives) 

ZainCash is an Iraq-based mobile wallet, electronic bill payment, and funds disbursement service for businesses and everyday people. 

ZainCash offers one-of-a-kind services to consumers which is why it is unique and has fewer competitors in Iraq. Compared to a global scale, you may find ZainCash similar to PayPal, Venmo, AliPay, and Google Pay apps. 

Besides this, there are some industry competitors and companies similar to Zain Cash. It includes SensePass, PayMe, and Conotoxia.

1. SensePass


Founded year: 2017

Headquartered: Israel

SensePass is a top competitor of ZainCash, sharing similar interests in services, it has a huge user base and helping many verticals with their legacy of making a future of contactless payment options for consumers. 

Their mission accumulates innovative steps in expanding the boundaries of digital payment processes. The community provides an omnichannel payments network to users to pay for goods and services with no app installation or extra steps. 

The payment and transaction work similarly to the payment app like ZainCash app via QR code scan. But it doesn’t fund distribution or cash disbursement as available in the ZainCash application. 

2. PayMe


Founded year: 2014

Headquartered: Israel

Another great competitor of ZainCash is PayMe, headquartered in Tel Aviv-Yafo, Tel Aviv, Israel. It provides a ready-to-use financial ecosystem to myriad businesses including banking, healthcare, and more. 

Their services include payments, financial services, and accounting & operations. Typically, it is best suitable for eCommerce entrepreneurs. Each segment such as merchants, marketplaces, FinTechs, and banks, offers unique services based on functional characteristics. 

3. Conotoxia


Founded year: 2014

Headquartered: United States

Though it shares a similar industry and a few parallel payment solutions, it is another competitor to Zain Cash. Based in Chicago, Illinois, United States; it provides money transfers, online currency exchange, multi-currency cards, online payments, and Forex trading.

In payment solutions, the community provides multi-currency financial services. Users could easily pay for goods and services in multiple currencies without taking much time. 

How To Develop A Payment Mobile App Similar To Zain Cash? 

1. Do comprehensive market research + competition research

Market and competition understanding is important here. Hire a custom fintech app development expert that could help analyze and gather key requirements for designing a standalone payment application more advanced to Zain Cash. 

This might give a core competency to outline the features and outlook of the interface. Additionally, the expert can communicate with key project stakeholders to discuss the end vision, the choice of the app, functional capabilities, etc. 

2. Select the appropriate P2P app model 

In case you don’t know, ZainCash is a P2P Standalone Service app model. These models are said to be because these applications allow users to create their own digital wallet and use it to store and send money. 

Besides this, there are more P2P app types; such as bank-centric systems, mobile OS systems, and social media-based P2P payment applications such as WhatsApp and Facebook. 

Decide which P2P app type you want to build before initiating your mobile payment app development process. 

3. Plan out app similar to ZainCash features 

After deciding on the P2P model for your payment app development like Zain Cash, the next thing to draw is its features. Consider your research facts and information obtained to prepare a list of basic and advanced features. You could go with the basic one first. 

To ensure nothing misses, study your target audience and create a fail proof sketch of your audience. 

4. Proceed to design and development 

That’s we are done with the brainstorming part. Proceed to the UI/UX design and robust security architecture development. 

The effectiveness of your app can be calculated by these points; attractiveness and functionalities. Considering this, ensure your app is intuitive, simple, and engaging. 

On the other hand, ensuring a robust security layer in your app is equally important. All the information related to account and bank details should be end-to-end encrypted. 

In addition to this, users want a seamless and secure payment experience. So, to avoid any accidental or fraudulent actions, deploy the best security features like an Iris scan, fingerprint scanner, and multi-factor authentication. 

5. Abide by regulatory compliances 

While creating a P2P payment app like ZainCash, ensuring regulatory compliance is crucial. For your ZainCash app development, you need to comply with the payment standards. Payment standards are changed as per various global regions and thereby you need to choose one as per requirements. 

6. Test and launch your application 

It is important to test your application before MVP launches on a specific platform. Testing ensures that everything in your app is perfectly working. 

Quick things to follow for testing your app similar to Zain Cash:

  • Cope that your app installs and runs smoothly on different devices.
  • Examine how the application performs in low battery, incoming calls, airplane mode, and more. 
  • Test hardware connectivity such as Wi-Fi, Bluetooth, and NFC. 

There is a dedicated app analyst and quality professional appointed for this process. They check for everything and ensure everything is good in the app. 

They give the green signal to the project manager to proceed with the further process. Launch the application and keep enhancing it by deploying new features, updates, and more. 


Also read: How To Develop a Cryptocurrency Exchange Platform Like Coinbase


How Much Zain Cash Mobile App Development Cost? 

ZainCash mobile app development cost

First thing first, the cost to develop an app like ZainCash computes various factors; ranging from the app’s complexity and screen design to geographic location.

To give you a rough estimation, the cost of developing a feature-rich app (one that is similar to ZainCash) for just one platform (either for Android or iOS), can range between $35,000 to $40,000.

However, you can request a quote to know the approximate estimation for your app development idea. 

Summing Up 

That’s all in this blog. 

Things to remember in the end is that the trend of developing payment apps like ZainCash will increase as more people rely on mobile apps and the usage of digital payment unarguably will increase. 

Market analysis is important to do in order to create a competitive mobile app for end-users and earn high revenue. Also, consider adding advanced features to make your app stand out from similar apps. 

I hope you found this blog insightful.

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Talk to our experts and see how they can help you with your project needs.

Shikha Sharma
Shikha Sharma received a Master's degree in Computer science and now she is working as SEO Executive at Xtreem Solution, leading iPhone App Development Company. She loves to write about trends in mobile apps, iOS, Android, react native, flutter, cross-platform, web technology and digital marketing trends. Her professional interest is focused on grabbing Knowledge. Apart from this, she is a coffee lover & nature lover. She loves to read books and also crazy about photography, travelling, adventure trips and pastel rainbows.

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