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Developing Mobile eWallet App- A One-Step Digital Payment Solution

Mobile Application Development October 21, 2020
MDeveloping Mobile eWallet App- A One-Step Digital Payment Solution

[vc_row][vc_column][blog_single_full_content]Remember the days we all used to go to nearby banks to get cash?

Or how we used to make payments by cash?

In the past 2 decades, we all experienced a huge revolution in payment methods. Every latest technology brought some part of ease in payments saving time and cost.

There are multiple ways users can perform online transactions. Right from contactless cards, tap cards, tokenization, online banking, e-wallet apps to smart speakers (all thanks to IoT!)

A survey says 28% of people used smart speakers for making payments.

Smart Sticker PaymentsToday, there are various apps for digital payments. Such mobile payment applications are called e-wallet apps. Mobile electronic wallet apps are linked with the user’s bank accounts by integrating debit card details or bank account details. Some of the popular payment apps are Apple pay, Google pay, Starbucks, PayPal, Venmo, and Zipmark.

As per a report published by Apple pay is the most used payment app in the USA.

Mobile wallet apps are best used for bill payments, money transactions, recharge, and instant payments. Users can make any sort of financial transaction with a few clicks.

Users can pay life insurance premiums, electricity bills, flight booking, phone bills, and whatnot. Also, every such app has a QR code scanner that allows users to transfer money directly to the bank account linked with that particular QR code.

Various banks have introduced their mobile electronic wallet apps. These apps can perform functions similar to electronic wallet apps.

Since all mobile wallet apps deliver convenience, the number of users is drastically increasing. According to a report generated by Statista, the global number of e-wallet users could double by the end of the year 2020.

Digital Wallet Users Could Double by 2020Benefits of e-Wallet apps

Quick Processing

As mentioned earlier, electronic transaction apps enable quick processing of payments & transactions. These transactions are executed in real-time. Most of the mobile wallet apps allow users to make payments in a maximum of four clicks.

Real-time Acknowledgment

Once the payment is processed, the user gets notified with electronic receipts as a form of acknowledgment. Also, these apps maintain a transaction history for further reference.

Anytime Access

Users can access payment apps from anywhere at any time. These apps can also be accessed from various devices.


One of the top benefits of electronic transaction apps is security measures. App developers make sure that no sensitive data is exposed while performing transactions.

How to Build a Digital Wallet App?

Any business planning for e-wallet app development must understand important components of the apps.

Here are a few components and features you should consider to build such an app:

UI and UX

The first thing to consider to create an e-wallet app is designing. To provide seamless user experience, developers need to understand user requirements. It is recommended to study existing electronic payment apps with millions of downloads.

Make sure your app offers smooth processing, easy navigations, and performs basic functions within a few clicks. Try to keep it simple. Adding too many features can create complexity. Use pleasant color combinations and avoid using complex animations as it can slow down the processing.

Easy Onboarding

In the process of e-wallet app development, user onboarding is the primary action that users would take. Since the app is associated with financial transactions, the user onboarding process has various steps.

Try to eliminate unnecessary steps and keep it easy to understand. Mention basic fields such as user name, user ID, password, contact details (phone number & address), bank account details, etc. If the onboarding process is lengthy, the user might lose interest.


It is essential to know your customer. To make sure that the user account is authenticated, adding the KYC feature is extremely vital. KYC is a process of verifying user details ensuring no fake information is added by the users. Many electronic wallet applications required their use to perform KYC before any transactions.

Bank Account Linking

Bank account linking can be optional yet recommended. Many users find it convenient to use payment gateway apps with bank account synchronization features since it facilitates transactions. Any amount credited to the wallet application is automatically added to the user’s bank account.

If not, add the option of transferring the amount to the bank account manually. Users require some sort of verification to synchronize bank account details with the digital wallet app.

e-Wallet Passbook

An e-wallet passbook or digital passbook is one of the major components of the payment mobile application development. The digital passbook displays transaction history. It represents the amount of money sent and received, time of transaction, date of transaction, details of sender and receiver, and also personal message if any.


Though these apps are not messenger apps, try to add a messaging feature along with a transaction feature. In this way, users can send a personal message regarding payment details. This feature creates a sense of delightfulness.

Multi-Language Support

Make sure you develop an app that supports multiple languages. The app should support the local languages of the region you are targeting along with English. This feature makes the application more user friendly. Developing a mobile payment gateway app that supports a single language has a higher chance of eliminating a huge number of possible customers.

For instance, if you want to target France, developing a mobile wallet app that supports only the English language will not gain a good number of downloads. Also, multi-language support is essential to target a global audience.

Also Read: What are the Challenges of Making Wearables App?

User Profile Management

This is the most crucial and vital factor for any wallet application. User profile management allows users to add profile photos, add necessary documents such as ID proofs, store information, and much more. Every payment app should store user details with every new transaction.

For instance, if a user pays an insurance premium using an e-wallet, next time the user needs not to add the insurance details again. This feature saves time and increases application scalability. Similarly, when a user attempts to pay a phone bill for the second time, the number and bill details should already be integrated with the system.

Contact Synchronization

Allow users to sync their contact lists with your app. Contact synchronization saves the time and efforts of users. Users need not type details of their contact; the user can simply go to the list, search for the name of the receiver, and select their contact to initiate payment.

Push Notification

Notifications can be regarding application updates, latest features, unused functions, latest transactions, or event reminders. Whenever any amount is credited in the e-wallet, a push notification should be sent on the user’s smartphone.

Push notifications regarding reminders are gaining more popularity nowadays. Users get a push notification regarding pending bills of electricity, insurance, EMI, etc. These notifications are saviors. In today’s hectic lifestyle, users should not skip bill payment dates.


Adding a GPS feature is essential in order to provide safety in transactions. GPS tracks the user’s live location and if transactions are performed from an unknown location, the user gets notified in real-time.


Every online payment transaction is secured with multiple layers of verification. Before conducting the transaction, the user is required to verify identity. App developers usually use pin code, CVV, or OTP. Pin code is a combination of numerics saved by the user.

The user submits pin code at the time of the transaction to ensure authenticity. You can also include other verification options such as verification value (CVV), one-time password (OTP). CVV is the three-digit number present on debit cards. OTP is a code generated and sent on the user’s mobile or email.

Chatbots for Assistance

Though having a chatbot for user assistance is an expensive feature and can disturb the e-wallet app development cost, we recommend adding one. Chatbot not only assists users through their transaction journey but also solves user queries. A chatbot is an excellent feature to resolve basic and frequently asked questions.

A single chatbot can resolve thousands of queries at a time without any human interference. A chatbot is easy to use and maintain. Encompassing chatbot with the payment gateway app not only increases convenience but also saves costs associated with customer support executives.


Percentage of US Respondents By Payment TypeA survey says 22% of respondents expressed ‘security’ as a concern for not using mobile payment apps.

This statistic concludes that security is one of the major areas that require more and more perfection. With every new technology in the online security industry, new cyber breaches, malware, and ransomware are introduced. Though verification and login security passwords can offer security, developers need to focus more on security measures such as biometric protection and tokenization.

Biometric Protection

Biometric protection support is the latest security feature every electronic wallet app developer considers. This feature requires the user’s smartphone to be well advanced enough. In this feature, the biometric data of the user’s fingerprint is used to initiate the transaction.


Being a developer you must have heard of a data encryption system. In this feature, the data submitted by the user is encrypted and processed for description to initiate the transaction. Here, by quick scanning the token that resembles a combination of symbols is encrypted and the user needs not to get details of the vendor.

Incentives and Promotions

To achieve popularity, more downloads, and loyal customers, developers should consider adding features such as incentives. Incentives can be in the form of money, coupons, points, etc. Adding search features to the application can help organizations increase brand visibility. Many users mention incentives as one of the primary factors for downloading e-wallet apps.

Many existing payment gateway apps offer shopping coupons on the transaction of particular amount limits. This not only motivates users to use the application on a regular basis but also motivates them to share the app link with their circle. Google pay has an interesting feature called scratch card. On every bit of transaction, users can get a discount on different services or cash.

QR code Scanner

A QR code is nothing but a two-dimensional square-shaped barcode. This barcode encompasses data. This data is usually linked to a website or to a bank account. Though QR codes are widely used for advertising purposes, in the past few years, it is also used in digital payments. Many vendors have QR codes on their billing counters.

An in-app camera scans the vendor’s QR code to fetch details in real-time. The vendor need not display an account number or are a mobile number. After successfully scanning, the user can initiate the payment. Also, allow users to create their own QR code. In this way, one user can point to another user’s QR code and complete the transaction.

Digital Receipt

In traditional payment methods, banks offer paper receipts as a form of transaction acknowledgment. Similarly, add a digital receipt feature to your application that acknowledges every successful transaction. This digital receipt can be sent by email, push notification, by SMS, or by all the three. Adding a digital recessed feature is essential for security purposes.

The digital receipt consists of sender details, receiver details (name, address, contact number), transaction date, transaction time, mode of transaction, amount of transaction, and a share button. Allow users to share the transaction details with others via WhatsApp, or email.

Quick Access to Businesses

There are various mobile app developers USA can integrate into their application. Allow your users to use those services and make payments using your e-wallet app. For instance, adding Uber Eats in the app can allow users to access UberEats, place food orders, and complete payment from a wallet app.

You can add various businesses from different sectors such as online shopping apps, food delivery apps, grocery delivery apps, travel booking apps, and much more. Integrating your app with popular business apps increases brand value and makes the app user friendly.


Developing an electronic wallet app is a difficult task. As mentioned in the article, there are multiple features to be addressed and factors to be considered. It is recommended to hire experienced professional designers and developers with expertise in eWallet app development.[/blog_single_full_content][/vc_column][/vc_row]

Pratik Kanada

I am Pratik Kanada, founder & CEO of 360 Degree Technosoft, which makes app ideas into reality by providing unique design and development services across iOS and Android platforms. I generally write blogs on mobile technology, app development and app marketing.

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