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Central Asia Pay: financial platform. Case study

Since the presence of the first zero-cash service it became easier for people to send and receive money in real time. They save hours from wasting it on checkbooks or cash withdrawal from ATMs. Our Kazakhstan partner decided to implement a large payment ecosystem for Kazakhstan users. Together with them we created Asia Pay financial service which includes payment as well as management services. Central Asia Pay has been able to become an ecosystem of software products that complement each other and have backed that ecosystem up with strong customer support.

How does it work?

Central Asia Pay software has its own list of debtors. The most important thing for us was to create trustful software, which will be reliable for citizens and government as well. Nevertheless, this service is a bit different from usual payment software. People get used to make online payment using their personal bank account where you already have a list of required options. Central Asia Pay software consists of administrative panel, Android app for agents and Android app for cashiers. Cashiers are added to the system by agents. When sending payments to the business Central Asia Pay cashiers creates separate payment for every good and service with a percent commission fee for each transaction (every commission fee depends on bank’s rules). Central Asia Pay for agencies lets business owners and organizations claim a unique username for their staff (cashiers). It is the easiest way for customers to pay for utilities.

Central Asia Pay advantages

Asia Pay app works together with cash machine to proceed payments immediately; only rarely they take up to two days to process (depending on the recipient’s bank). Central Asia Pay let users send and receive money even if only one party has the app, which is convenient (in other words, a client can pay through Central Asia Pay even if they don’t have a personal account). This is a fast and convenient way for people to make payments using so-called $cashtags that are unique to each user.


Every financial application should be reliable and secure service provider. All users of payment services want to know what is being done to protect their financial data. Central Asia Pay contains a number of security features that are designed to prevent fraud or breaches of sensitive financial data: A security lock feature that sends the instant notifications via email, text message, or push notification if suspicious activity is detected in a user’s account.

What does it take to build an app like Central Asia Pay?

Initial idea of creation Asia Pay apps was to figure out debtors in Kazakhstan. As of today, Central Asia Pay has clearly become one of the leaders in Kazakhstan of P2P payment solutions. On the top of the technical difficulties involved in developing a complex application that can handle a lot of data and exchange it with banks, creating a product like this one poses a number of other challenges.

Recommendations for how to get started

  1. Start with the local market at first. Smaller market will show the optimal product–market fit and see how users respond to your service. This kind of advantage may be the best thing to follow. Not every peer-to-peer payment system has to go global. There are a lot of regional banks which invest into developing customized P2P platforms just for themselves.
  1. Security is a must for every P2P platform. Users want to be absolutely sure that their money and their personal information is safe. Design your app’s architecture with a constant focus on security and reliability.
  1. Using third-party APIs is common practice when developing financial apps, and drives down costs. Third-party APIs can accomplish a lot of tasks; for instance, APIs such as Synapse Pay let you create secure accounts, send payments, and manage compliance.
  1. Another important step is to retain customers’ loyalty by providing multiple support channels via online chats and email. Make sure to respond to all requests and give detailed feedback. People do not take to it kindly if a money transaction doesn’t go through and they can’t reverse it or resend it

See more: Mobile App Payment Gateway Integration

How much does it cost to create an app like Central Asia Pay?

The app development cost depends on various factors, including how big the team is, what services they provide and  where they are located. Creating fintech software is always an expensive journey, and it takes a lot of expertise to build a peer-to-peer payment app that will be as successful as Central Asia Pay.

See more: Platform Type Project: What Should You Consider on the Development Stage?

If you are interested in building an app like Central Asia Pay, get in touch with us and find out all necessary details!