Now Paypal Supports Bitcoin. This statement started to create curiosity among the software development community and other payment processing companies. The payment gateway is a popular and attractive business model in the online e-commerce ecosystem. Paypal has been the leader in the digital payment system and now extends support to cryptocurrency.
We are going to present the key functions, features, and technical considerations for a Paypal Clone as a Minimum Viable Product.
Modules in the Application
For documentation and understanding purposes, the key features are grouped as follows:
- Public Website
- Registration / Login Module
- User Panel
- Admin Panel
Public Website
The public website is a mobile-friendly, responsive platform that publishes information about the business and acts as a doorway to the Registration, Login, and Support pages.
The identified pages are:
- Homepage
- About Us Page
- Service Information Pages
- FAQ
- Legal / Terms of Service
- Privacy Policy
- Contact Page
Key Design Considerations
- The pages are visually appealing and mobile-friendly.
- The pages are SEO-friendly.
Registration & Login
The application is designed as a member-only service. The registration and authorization use Laravel’s built-in authorization framework.
Account Types
Two types of user accounts are identified based on features:
- Personal Account
- Business Account
Users can create an account by entering details such as email address, password, name, address, location, phone number, and agreeing to terms and conditions.
KYC
KYC requirements depend on the account type. Typical documents include:
- ID Proof (Photo ID)
- Address Proof
- Bank Account Information
Fee & Transaction Limits
Transaction limits and fees vary by account type. These are set globally.
Login
Key considerations for login and session management:
- One active login per user.
- Force login activity with 2FA.
- Block suspicious logins based on IP range.
- Auto-lock after too many failed login attempts.
Password Recovery
Users can recover their password using email and security checks, completing the process with a code.
User Panel
Summary
Users can view and manage:
- Wallet & Balance
- Send/Receive Money
- Transaction History
- Settings
Wallet & Balances
Each user is assigned a virtual wallet for fiat currencies and optional crypto wallets.
Key Design Considerations
- One wallet per currency per user.
- Unique wallet addresses.
- Wallets cannot be deleted but can be frozen.
Admin Panel
The admin panel provides tools to manage the application and monitor logs.
Dashboard
Displays key performance metrics such as:
- User Count
- Fees Collected
Manage Users
Admin can filter, search, and manage user details, including KYC, wallet balances, and account freezes.
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