Tricount Clone Development: Features, Development Costs, and Tech Stack

Nowadays, people face real challenges tracking expenses among friends, colleagues, flatmates, or couples. Using manual pen-paper or Excel sheets leads to human errors or data loss. However, the real solution is to create an app like Tricount to manage all the expenses wisely.

Tricount is a free app that quickly splits, manages, and tracks expenses among roommates, neighbors, family, and friends without confusion or errors. From adding expenses to clearing balances, the app manages all the admin work so the user can focus only on fun. According to market research future reports, the bill-spilling app market Apps Market CAGR (growth rate) is expected to grow by 4.8 % during the forecast period (2024 - 2032).

Developing a Tricount clone allows entrepreneurs to upscale their business and users’ experience, but it requires proper guidance, planning, and execution. This post provides a detailed guide on the key features, cost, and development process of a Tricount app clone.

How Does Tricount Clone App Works?

Create Expense Group:

Users can create groups for projects, events, trips, or sharing and add participants by sharing links.

Add and Split Expenses:

Next, the team members can add and divide their expenses according to their pre-agreed amounts.

Link Bank Account:

The user can easily link their bank account with complete details. It supports multi-tier encryption to secure the user’s banking details.

Send Payment Reminders:

If there is any pending amount left, the app uses push notifications to remind the participant of the previous due amount.

Maintains History:

It organizes and records every transaction, pending bill, expense, etc., for future reference.

Key Functionalities of Tricount App Clone Development

The following are the key functionalities you must remember for Tricount clone development. Below are the features that must be included in an App. Have a Look at them!

For User

User Registration and Authentication

The Tricount App allows users to register easily through their mobile phone, email address, or social media details. At this step, the app creates a detailed user profile and uses two-factor authentication to secure their details.

Group Creation and Expense Categorization

Users can create groups by sharing links and categorize their experiences based on trips, rentals, tickets, etc. Additionally, they can edit group members' names, descriptions, and details.

Add and Manage Expenses

Users can add expenses with complete details like amount, date, description, payer, etc, and manage it easily.

Tracks and Organizes Expense History

The app tracks expense history in an organized form. The user can view the present and previous payment history with date filters.

In-App Notifications and Reminders

The app uses push notifications to update participants about the due payments, upcoming bill reminders, or group activities.

Activate the Credit Card of Your Choice

Users can activate their choice credit card and add it to Apple or Google Pay for further payments.

Create Recurring Bills

Whether it is monthly or weekly groceries, rental, or household bills, the user can easily pay them in recruitment.

Supports Multiple Currencies

The User can pay their transactions in different currencies as the app converts the amount according to the preferred country.

For Admin Panel

Users Management

The admin can check, edit, view, or delete different users to create a secure user base.

Group Management

Through the Tricount clone app, the admin can view and edit different groups, their descriptions, and participants. They can also delete the inactive groups in the applicant.

Expense Categorization and Management

The app allows the admin to check all users' expenses and complete details like date, amount, time, etc. This helps them monitor trends and ensure all transactions comply with platform guidelines.

Add High-Resolution Images

The Tricount app clone allows the admin to add high-quality images in a single or an entire album.

Generate Detailed Reports

The Tricount app clone includes analytical tools that allow users to check the overall platform usage, user engagement, etc.

Supports Advanced Third-Party Integrations

The app supports smoother third-party integrations to enhance functionalities and broaden reach. For example, it easily integrates with different payment gateways for simpler payment processes or AI banking applications to effortlessly split expenses.

App Setting and Customization

The admin can check the app's overall settings and customization. They can also edit users' roles, change privacy policies, and more.

Feedback and Support Management

Through the Tricount app, the admin can handle users’ feedback and reviews to make improved decisions for improvements

Advanced Features to Consider When Developing App like Tricount

Basic Features are necessary, but adding advanced features helps you stay competitive and follow dynamic industry trends. Below are a few features of expenses splitting app development, like tricount. You must check to enhance the app’s functionality, efficiency, and streamlined processes.

Machine Learning

Add machine learning development services to predict expense spending patterns. This will help make informed decisions and budgeting strategies.

OCR Technology

Utilize OCR technology to automatically read and analyze the expense date from receipts.

Integrating Multiple Payment Gateways

Consider integrating multiple payment methods and gateways such as PayPal, Stripe, Venmo, etc. This feature is crucial for a flexible, convenient, and secure payment process among participants.

Blockchain Technology

Integrate with AI blockchain Fintech technology to ensure transaction security and transparency

Tricount-like App Development Process: Key Steps to Follow

Although Tricount like app development may seem easy, it requires proper planning and execution. Below are the essential steps for building an exceptional clone app.

Proper Market research:

Before starting the Tricount clone development process, Start with deep market research and analysis. Find your target audience and check their expectations. Analyse competitors and find where they are doing well and what you should do to stay ahead of them.

Define Features and Functionalities:

After understanding users’ requirements, it’s time to add features and functionalities that meet their expectations. You may start with the basic version and upgrade to the advanced level.

Decide Tech Stack and Coding:

You must pay close attention to every detail while developing a FinTech app clone. Therefore, hire a top-notch mobile app development company with relevant skills and experience.

Develop and Design User Interface:

An attractive app quickly grabs a user’s attention. So, create a visually appealing, easy-to-navigate, simple yet centered app that users find easy to connect and use.

Quality Assurance and Testing:

Once the app is fully developed, testing is a crucial step. The QA team tests the app quality against various parameters to address errors and bugs. If the app needs improvement, the team fixes the issues to ensure that the app runs smoothly and efficiently.

Launching the App:

Now comes the final part: launching the application on various platforms such as Android or iOS. However, the job doesn’t end here; you must focus on marketing and promoting the app to the target audience.

Tech Stack for Create an App Like Tricount

Type/ Category	Technology/Tool
Front-end	Kotlin, Swift, React Native, Flutter
Back-end	Python, Node.js, Java/Spring
Design	Adobe XD, Sketch, Figma
Database	MySQL, MongoDB, PostgreSQL
Security	Two-factor authentication, Industry standard rules
Payment Gateways	Stripe, Paypal, Venmo

Factors Affecting the Development Cost of Tricount App Clone Development

The actual cost of creating an app like Tricount depends upon the client’s requirements. However, the estimated cost is between $10,000 and $25,000. The cost of developing a Tricount-like app depends on multiple factors, some of which are listed below.

App’s Complexity

The first factor that affects the cost of developing a Tricount clone is its complexity level. A simple clone app costs less, whereas the cost increases as the complexity level increases.

Features and Functionalities

The more advanced features you add to your Tricount clone app, the more it will cost. You may start with a basic version and add more advanced features according to your budget suitability.

Launch to Platform

Different Platforms have their own set of requirements that you have to include in your app. This, therefore, needs different development steps and affects the app development costs.

UI/UX Design

Next, the app's UI/UX design affects the Turo clone app development cost. For example, a simple black-and-white palette will cost less than attractive tones and gradients. Custom icons, colors, and illustrations also increase the app's price.

Hired Development Team

Another factor that defines your Tricount clone development cost is the development team you hire. The team charges according to their size, location, and expertise.

Maintenance and Updates

Once developed and launched, your app needs timely maintenance and updates for smooth navigation, which affects your budget.

Monetization Reasons to Tricount Development 

A strong monetization strategy is crucial for sustainable development and improved ROI. Below are the best monetization strategies that you may add on to your Tricount like app:

Promotions and Advertisements:

Advertising is the best way to generate revenue from expense-splitting app development. Place relevant ads and get paid each time a new user clicks on them.

Paid Membership Plans:

Start by providing essential features like group creation, adding expenses for free, and charging for paid versions. For example, Provide Paid membership plans for an add-free bill-spitting experience.

Multi-Payment Transaction Fees:

Apps like Tricount charge transaction fees after payment is made through various platforms. However, the percentage charged has yet to be clarified.

Why Choose Suffescom to Develop Tricount App Clone?

Suffescom is a top-grade company that provides prominent Tricount-like app development solutions. We pay close attention to each client’s requirements and develop a customizable Tricount clone app using the latest technology. Don’t let the opportunity slip from your hands; choose Suffescom and maximize your business returns.

FAQs For Tricount Clone App Development

What are the latest integrations a Tricount clone supports?

Among the emerging trends, the Tricount clone supports integration with machine learning technologies to understand participants’ spending habits and blockchain technology to ensure secure transactions.

Is developing an app like Tricount a worthy FinTech app idea?

Indeed, Tricount is a worthy FinTech app idea as it provides great convenience in money splitting. Some other reasons are written below:

1. Easy to download and register.
2. Secure and safe transactions.
3. Track shares automatically
4. Receive money directly into a bank account.

How long does it take to create an app like Tricount?

The average time to develop an app like Tricount with a basic version is 3-5 months. However, it may exceed based on the advanced functionalities, type, and hired development team.

• Expenses Managing app development