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Apps like PayTM, Momoe, and PayUMoney have written the success stories in the realm of digital payment. Yes, these E-Wallet mobile apps have identified the trend of digital payment in advance. Today, as we witness a paradigm shift in online payment from laptops and desktops to mobile devices, the customized mobile wallet app can still work wonders while giving you higher returns on investment.

It is wrong to assume that only developed countries promote digital payment and facilitate people to go cashless. Growing economies like Brazil, China, and India are also in the process of making the digital process a norm. A Capgemini and BNP Paribas study has revealed that digital payments can reach 726 billion USD by 2020. In such a propelling scenario, you can imagine the role of mobile wallet app development.

When it comes to features, the eWallet mobile application can offer convenience and safety to the users by integrating the futuristic technologies like Blockchain, NFC, etc. All you need to choose a reliable and reputed mobile app development company to leverage the technological advancements in the customized mobile wallet apps. Here we give a few basic features of an e-wallet mobile app:

Necessary features of customized mobile wallet application
We can classify the features from perspectives of the user and admin. Let us go through the features as per these categories:

User-oriented features

1. Registration- Simple and short user registration feature requires the user’s email id, social media account or mobile number for enabling the app’s access.

2. Bank Authorization- Users need to add the preferred bank account’s details and their bank should authorize it for initiating a transaction.

3. Add and Check Balance- The users can add and check the balance within the app at any time. Also, they can view all the transactions.

4. Cash Transfer- The users can transfer amount instantly after adding their account details. This transfer is safe and convenient.

5. Pay Utility Bills- The major functionality of the mobile wallet app is to pay the utility bills like telecom, electricity, and the like. This features facilitates the users to pay the bills.

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6. Accept Payments- If merchants or retailers are your app’s users, you need to give the payment acceptance functionality. The users can receive the payments in a secure way.

7. Promotional Offers- Several eWallet mobile apps give points on certain transactions. Also, cashback offers also come periodically. This feature shows all promotional offers.

8. Transaction History- It enables the users to track and find the completed transactions. You can make the search more advance with the help of different filters.

9. Review- The user’s review plays a vital role in making your app successful while showing transparency. Though not essential, you can add review and ratings for your app.

10. Refer a Friend- You can promote your app through referral. You can give referral bonus points for inviting friends to your loyal users.

Admin-focused features

1. Single Dashboard- It shows the information of all the registered users and other necessary features like analytics, notifications, and the like.

2. User Management- The admin can track and monitor all the transactions done by the registered users with the help of this feature.

3. Contact Management- It assists the admin to manage various techniques for attracting new users and retaining existing users.

4. Real-time Reporting- The admin can get the real-time reporting about the number of active users, performance of offers, number of transactions, etc. with this feature.

5. Add or Block- It empowers the admin to accept the new user’s requests. The admin can also block the users with frequent incidences of unauthorized payment processes.

Apart from these fundamental features, you can come up with the following advanced features in the subsequent versions of your eWallet mobile application. Though these features are essential to staying ahead of the curve, you can integrate them after releasing your app. Business persons with budgetary constraints can bring an app with basic features initially and then consider adding these features:

You may wonder about the necessity of this feature in your eWallet mobile app. This feature can enable the users to locate the nearby users. It helps users save a lot of time and makes the transaction smooth and easy.

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This feature enables your app to get synchronized with the registered user’s social account network and mobile number. It enhances the security and accuracy of your app, which is a mandatory requirement for the apps belong to digital payment.

The in-app camera can serve two important functions: One, it enables the users to send the receipt and two, the users can use it in QR Code scanning. It is a value-added feature and increases the development cost.

  • Integration with Wearables

These days, apps are not restricted to smartphones and tablets. You can also bring a wearable version for facilitating the app users to transact through wearable devices.

We can say it an additional layer for secured transaction. This feature shows only an OTC (One Time Code) to the merchants and retailers while skipping the credit or debit card information of the user.

Push notifications have multiple uses. They are used to spread awareness about your business activities and inform the users about the transaction status as well as rewards and promotional offers.

  • Loyalty or reward program

This is one of the most effective ways to retain the existing and loyal customers. You can offer either cashback or reward points that can be redeemed into cash.

This feature enables you to generate a digital receipt for every completed transaction. The users can get and share it via smart devices, email, and within the app with ease.

All these features assure the seamless functionality of your mobile wallet app along with secure transaction and easy-to-use features. You can also opt for categorization and customization of different categories for the sake of simplicity. Integration of a budgeting tool and backup facility are some of the useful features that can enhance the user experience. A mobile application development company can give you more information about all these features.

Cost of tailored eWallet mobile application

Your eWallet mobile app can give a boost to your business and build the brand. Therefore, you should do enough research about the market trends. It is also advisable to get no-obligation quotes from reliable eWallet mobile app development services providers to compare. You should also go through the portfolio, testimonials, and overall ratings before handing over your app project.

The app development cost is depending on two factors: Complexity of your app and the hourly rates. If you want to integrate additional features to make a robust and complex app, you need to prepare for spending more bucks. Your app’s complexity is directly proportional to the app development duration and it reflects in the cost. Now, let us have a short discussion on hourly rates of developers globally.

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North American countries like the US and Canada have an hourly rate anywhere between $150-$160 an hour for developing an app. Whereas, the European app developers take around $130 an hour. The most reasonable are the Indian app developers who take between $25 to $80 for developing an eWallet mobile app. Summing up these factors, you can get the mobile wallet app with basic features in $20000 to $25000.

If you want an app like PayTM with extensive features, you need to spend up to $100,000. Here we do not count the app maintenance cost and app marketing cost. Usually, these costs are not a part of the development cost. It is better to talk about it with your mobile app developer. Also, you can avail the flexible engagement models while hiring mobile app developers for your app project.

Over to you
Your eWallet mobile app provides solution to the digital payment. It gives convenience and security to the users while transacting online. Such an app can generate high revenue and build your brand gradually.

Solution Analysts is a renowned mobile app development company that has a pool of experienced mobile app developers to deliver high-quality eWallet mobile app solutions for your business. We integrate various technologies to meet the client’s diverse requirements in a cost-effective way. We have developed bespoke app solutions for different industry verticals. Startups, SMEs, and large enterprises have leveraged the benefits of our technology solutions.

If you have an app idea, just connect to us at with your project requirements, and our business consultants will help you transform your idea into a feature-rich mobile app.

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