E-wallet Mobile app development is growing at a very rapid pace. It is basically an online mobile application where you can store your money virtually. Many people are using e-wallets to receive and send money. There are lots of e-wallets applications are available in the market like Google pay, Paytm, Phonepe, apple pay, android pay, etc. E-wallets are also used to pay the electric bill, recharge, water bills, transportation bills, etc. But for these things, you will need the best mobile app development company to develop an e-wallet application with advanced features. E-wallet is the fastest and secure payment system online. Many businesses are using mobile app development to grow their presence online.
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Features of E-wallet application
Automatic Refund
A refund is one of the most important parts of an e-wallet application. When your transaction failed and the amount is also got detected it’s the time when the refund process works. Your amount will be credited back to your account whenever your money got detected with the failed transactions. But your mobile app development company should add this feature to the e-wallet application.
Easy to link a bank account
Users can easily link their bank account with the e-wallet application. This feature will help the users to send and receive money directly from their bank account. This is also one of the secure and faster features in the e-wallet application. Users will also be able to see their recent transactions.
Easy to register
Users must be able to register in the app with their respective mobile numbers. They will receive an OTP when they register on the application to verify. After verifying, the users will have to give bank details to link with the application.
User spending analysis
This is also one of the most interesting features of the e-wallet application. Every user can easily examine their spendings. It’s one of the most attractive and engaging features of this application. But if users want to use this feature your mobile app development company should add this to your mobile application.
Wearable device integration
Users can also integrate their e-wallet mobile applications into their smartwatches. Customers can easily send and receive their money by wearable devices. As per the report, wearable device payments will also grow to $500 billion dollars by 2020.
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Add Money
The users of the e-wallet application can add money to their account whenever they want. They won’t have to pay extra charges for adding money to the account.
History
The users can also see their transaction payment history which they have made. They will also be able to see whether the transaction is pending or completed.
GPS tracking
Now, these days anybody can accept mobile payments does not matter where they are. GPS and navigation is an inbuilt feature of e-wallet application. GPS helps the users to locate the people on the devices and make the payments very easily. This feature helps the users to do transactions very efficiently.
Offers and deals
We all know that offers always attract customers. E-wallets make this task easy for the business owner to provide lucrative deals to the users on every transaction. It helps the business to get more customer engagement for their businesses. But they must know that customers will only engage with their businesses when the e-wallet application is perfectly made.
Instant payment system
Users can send and receive their money instantly with the help of e-wallet mobile applications. With this feature, users do not have to wait for a longer time. This feature will help the users to send and receive money instantly from anywhere in the world. Right now we are living in a cashless society so the instant payment method system is an excellent feature.
Budget plan for users
Users can also plan their budget in the application. They can easily make a plan for wise spending. This feature will engage more users for your application. E-wallet is also able to act as a financial planner for the customers by providing options like:
- Set a budget for every category
- Send a reminder to the user when they exceed their budget limit
- Send a reminder when their bill is overdue
Online Shopping
This is one of the most important features you have to include in your e-wallet application. The users can also use your application for online shopping. This feature will help you to attract more new users to your app. If you include these features in your e-wallet mobile application then you can grow your e-wallet app faster as compared to your competitors.
Cost of E-wallet Mobile application
The cost of an E-wallet mobile app development depends on many things like how many features you want to add and what type of design you wanted for the app. The estimated cost of an e-wallet mobile application is $10000 to $15000$. But if you are planning to hire an experienced and expert mobile app development company for your application then the cost will go much higher.
Conclusion
Now, these days e-wallet makes it easy for customers to send and receive money from anywhere in the world. Many businesses have developed their own e-wallet application. But when it comes to developing an e-wallet application it becomes a very difficult task for mobile app development companies. So when you choose your mobile app development company for an e-wallet application make sure you are choosing the right company for your project.
