Insight of eWallet Mobile App Development Process
Hassle free money transfer and payments through a mobile device is nothing less than a boon. Just recall the time when we used to drive and wait in the queue to pay the electricity bill or have to wait for hours to get the deposited money. That was extremely time consuming and daunting. Because of mobile apps, things are eased up a lot. These things can be done from any corner at any time as per your convenience.
Thanks to the apps like PayTM, MobiKwik, Freecharge, GooglePay, and PhonePe, that payments are these easy. Also, the bright side of using these apps is that they give you cash back and reward points. You can make some money while paying some using these apps. The user engagement of these apps has also been amazing and it is that time when every device has at least one of the above-mentioned apps in them. So, yes the users accepted, they used, they liked, they loved, and now they have become an inseparable part of their life.
If you want to enter this league and develop an e-wallet app, let’s help you with the information that will be helpful along the way.
Insight of eWallet Mobile App Development Process
What is a Mobile Wallet?
A mobile wallet is an application that permits to integrate and store different kinds of payment methods like credit/debit cards or digital money (e.g. bitcoin), alongside extra stuff like coupon codes, loyalty cards etc.
Tips for Developing a Robust e-Wallet Application
If you want your e-Wallet app to be unique from others, you must include some extra and seamless features in your app. Here are some tips you can follow to make your e-Wallet app cutting-edge.
Lean Way
The development process must be lean and agile so that no paper receipts or physical signature are required from the user’s end. The payment receipts, discount coupons or offers must be routed digitally with the payment.
Rapidness
The transaction done via wallet applications takes only 3-5 seconds to finish the transaction. On the other hand, bank takes hours or even days for transferring funds. So integrating seamless and secure servers for a fast and smooth transaction is the best idea.
High Security
Security is the most important concern in the e-Wallet app development process. Protected by three layers of security techniques, it ensures users use your app without any fear.
Easy to Use
The topmost priority while developing an e-Wallet application is that it must be easy to use. The UI should allow the user to easily make payment just by entering a password and then entering the code for completing the payment.
Portability
The amount of virtual money should not be limited to and dimensions. Users can add money as much as they want to their wallets.
Major Features for Your App to Make It Successful
The following is the list of some of the most important and must-have features that you should include in your app.
Wallet to Bank Transfer
The e-wallet or digital wallet application allows the users to directly transfer funds from the wallet to bank account and vice versa.
Payment Gateway Integration
When it comes to payment gateways, integrating all possible gateways including PayPal allows your users to make payments in all possible ways.
Adding Credit/Debit Card or Bank Account
To make things simpler for the user, the e-Wallet app should allow user to add credit/debit cards and bank account also. By offering multiple cards and bank choices to users, you can make the application more flexible and user-friendly.
Bill Payment
Being a common feature of wallet applications, it allows users to make payment for utility bills.
POS Integratio
The integration of POS systems in e-Wallet applications will expand the use of e-Wallet applications to brick and mortar stores also.
Expense Tracking
This may be counted as an extra feature, but it will help users to track their daily expenses and they can even manage the expenses also.
Conclusion
Since more and more people are adopting the e-Wallet payment technology, the future of digital wallet looks bright. People are accepting e-Wallets for paying bills, booking tickets as well as buying grocery and home utility items. So if you planning to invest money in app development than choosing e-Wallet application is the perfect option for generating profits from your business.
If you want to build a mobile application for your business, then you should hire an established mobile app development company
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