eWallet App Development
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.
Features That Make Your eWallet App Development
Well, as it is relating to the finance sector, there can be a stringent mindset that it will benefit just that sector which is not true. Here are some of the industries which an e-wallet app will benefit.
- Retail sector
- Financial establishment
- Telecommunication companies
- Transport industry
- Technology enterprises
- Logistics industry
- One of the mobile wallets types is of NFC. NFC stands for near communication field. With this, the user can send or receive the money even without sharing the contact details.
- Another type is with the QR code. Here you can very easily transfer the payment to your someone. You just need to scan the QR code through your device from the other person device and your payment is done.
- The third one is with Bluetooth or beacon technology. This is one of the fastest and most secure ways of making payment. You can transfer the money through this to the ones who are within your close range.
- There are also e-wallet apps which are developed just for the business agenda. This type of eWallet can be used to transfer big amounts eradicating any possibility of risk as there is no involvement of the third party.
- User Registration
The user has to feed his email ID and mobile number. The app will send a verification, entering it will make the user registered with the app. The certain eWallet app takes some extra security measures and use KYC for transferring money.
- Bank Account Authorization
After registration, the user will have to link their bank account with their e-wallet account. This will be the account used for making payments and other transactions. You need to add the bank account number, IFSC code, and such others. You can also add your card by feeding the details like name of the cardholder, date of expiry, and CVV number. These details are sensitive so be careful while entering them.
- Receive or Pay Money
Based on the type of eWallet app you have developed, the user can send or receive the money through the app. It can be either through the QR code or through NFC or any other way the app is developed.
- Check Balance
The user can check the balance of the amount in your account through the eWallet app.
The app keeps a record of all the transactions made through the eWallet app. You can know how much money you have received or paid, from whom and to who, and on which date.
- Recharge and Bill Payments
The eWallet app also helps the user to pay the bills like electricity, phone, and such others through the app. Users also have the convenience to recharge their phone and pay for the broadband through the app.
- Travel Reservations
The user can pay for the hotel booking, flight booking, train booking, bus booking, through the e-wallet app. Movie tickets are also something a user can book with these apps.
- Multiple Language support
The user can choose the language of their choice for convenient usage through this feature.
The user can get attractive cashback on the payment they have made using the eWallet app. This feature will increase user satisfaction.
- Refer to A Friend
Well, if the user refers the app to a friend and that friend also uses the app, the user can earn a certain amount from that.
Everything from why to what about eWallet mobile app development has been discussed, the only question left is how? The answer to this question is also very simple, just hire a proficient mobile app development company and hand over the project in their hands.