Have you ever looked around and noticed the way technology has transformed several aspects of our day-to-day lives. From switching on your ACs and TV sets to launching a satellite, technology has vital role to play. No one has ever wondered that they can shop around expensive malls and taste delicious food without carrying cash in their pockets. Thanks to the wallet app development company that launched the concept of e-wallet apps for the first time. We are living in a digital age where e-wallets have started replacing the unnecessary fuss to carry lots of cash to purchase anything. You can make number of transactions with these e-wallet apps which offer great comfort and flexibility to your purchasing. This is a major reason why apps like Google pay has got much recognition in the recent time.
In this segment, we are going to discuss the cost and some must-have features which must be there in an e-wallet app like Google Pay to get maximum attraction from users and generate trust among them.
Ease of Accessibility
A mobile wallet app is much simple, secure, and convenient way of making payments in comparison to net banking. The idea to be portrayed here is that you have to be very conscious about the easy access of your e-wallet app if you really want to gain maximum advantage out of it. Moreover, it’s needless to that it must be a secure app that can develop trust among people when they are willing to spend their hard-earned money through your mobile wallet app. Startups and even business giants can gain a lot by investing in an e-wallet app to digitalize their mode of payment.
Features that will make it distinguished e-wallet App-
Fund Transfer
A payment development company must focus on this crucial aspect before getting started with the development of an e-wallet app. People often need to transfer money from one account to another without involving in mind boggling processes. A payment app development company must focus on this important aspect. Make sure that they can do it easily by just adding the mobile number of the recipient or scan the QR code. Allow them to use Beacon or NFC technology as per their convenience.
Payment Acceptance
This is the other side of the coin. Just like making easy payments, allow your customers to accept payments from different accounts via a phone number or account details. People look for apps which are fast, easy and convenient in terms of making and accepting payments.
Bill Payments
Remember, the more versatile mobile wallet app you offer to your customers, the better value your business will develop. Google Pay reminds you of each bill payment due with the amount to ensure that there is no delay in making necessary bill payments. Look for a wallet app development company that offers maximum versatility in coming up with a robust and a swift e-wallet app for you. This is the most preferred feature of an e-wallet app that helped it gain worldwide recognition.
Balance Check
Allow your customers to be aware of their available balance before making any payment.
Booking Tickets
Allowing them to book train and airlines tickets will add to the value of your e-wallet app and your customers will thoroughly enjoy this privilege.
Getting money back to Bank account
Make sure that your app allows your users to send their money back to their bank accounts by just entering the bank details and then transfer. There could be a few restrictions here, but it makes things easier for the user to maintain the bank balance and review it in some cases.
Active Notifications
Ask your payment app development company to add this feature so that the app can inform your users about some latest offers and deals to get a extra edge over the competition.
Multi language support
This feature will surely help you to enhance your approach towards a wider user base.
Invite Friends
When people can invite their friends and peers to download the app using your reference link and earn bonus points, your app is going to make a razzmatazz in the app market.
Transaction History
Your app must allow users to view their entire transaction history so that they can stay aware of their expenses and incomes using your app.
Apart from this, you can also ask your wallet app development company to instill some advanced features like Manage transaction limits, Real-time analytics, Block Users, Data synchronization, Wearable integration, and Geo-location. These features will add to the value and worthiness of your e-wallet app.
Some Major Technologies to be used
- For SMS, Voice, and Phone verification, you can use Nexmo.
- Datastax will be best suitable for data management.
- Consider MongoDB, HBase, Cassandra, Postgres, MailChimp Integration for Database.
- Use E-wallet, PayPal, and E-banking for payment gateways.
- For everything related to e-mails, consider Mandrill.
- AWS, Google Cloud, Azure, Salesforce will best serve the purpose for cloud environment.
- Use Spark, Big Data, Hadoop, IBM, Apache, for Real-time analytics.
- Programming is an evitable part of developing an e-wallet app, hence, using GWT will be best for robust programming.
- Using ZBar bar code reader will offer best scanning for QR codes.
Estimated cost of E-wallet App Development
Based on the above information, it depends on the number of features and functionalities that you want to get instilled in your e-wallet app and that decides the final cost of app development.
Any Payment App Development Company will charge according to these features and functionalities. Another major aspect for estimating the cost of development is the location of app Development Company as different countries charge different “per hour” rate.
Still a basic e-wallet will cost you somewhere about $300,00 to 500,00 and if you need some additional and advanced features in your app, it may also go around $ 900,00 to 130,000.
These e-wallet apps have turned out to be a great resource for people in Pandemic times and are gaining huge recognition these days due to their flexibility and convenience they offer to users. So whatever, your business needs may be, try getting a unique concept for your e-wallet app along with attractive and comprehensive UI/UX. A well-designed and well-planned e-wallet app will surely gain maximum attention on App stores and will eventually turn out to be the best resource for generating huge revenues.
