Mobile App Development

Mobile Wallet App Development: Key Features and Cost Estimation

We all are living in a digital world, where everything from online shopping, taxi booking to quick payment or money transfer can be done with just a few touches. It can be said that the advent of new technology and mobile applications in the mobile space has made our lives significantly easier and even more connected.

Thus, smartphones and utility mobile applications have made an impeccable space in people’s heart. Trending technology, smartphones, mobile applications, and other electronic gadgets are all-time in the talk of the people.

Mobile Payment and Mobile Wallet are among the hottest and fastest growing industries today where every Bank, Mobile App Development Company, and Payment Gateway Company are diving into the same industry. Amazon, Google, Samsung, PayPal, and Vodafone are a live example of it. These types of mobile wallet apps have changed the way of payment.


It’s safe to say that mobile wallets are convenient in many ways. Smartphone users do not have to carry his or her physical wallet around. The technology is changing over the time as we have moved to the next level of technology, where people love to choose a virtual payment mode over the traditional payment system such as paying in cash, internet banking, credit card, and debit card.

As per a report generated by Statista, “the revenue of the worldwide mobile wallet market has risen from 450 billion US dollars to 780 billion US dollars. Likewise, experts predict the growth up to more than 1 trillion in the year 2019. In the USA itself, 45% of smartphone users are using P2P payment application to make payment online. Read More

What is Virtual Wallet?

So what are mobile payments exactly? Well, a mobile wallet aka virtual wallet is a financial instrument where you can keep money in a digital wallet. Individuals and businesses can use the wallet app to send and receive money via mobile devices. User can store their payment information to make the online payment easier.

e-Wallet Mobile App Development: Key Features and Cost Estimation

Are you looking to develop an eWallet mobile app? Here we are going to discuss the key features and cost of mobile wallet app development like the most successful eWallet app like Google Pay, Amazon Wallet, and Paytm.

Features of User Panel e-Wallet

User Panel

User Registration- It is essential to get into the app. Users need to provide their information, including mobile number (Linked with the bank account) and Email ID. He/She would receive a verification code and upon entering the code, his account gets registered. As per the Government Rules, KYC (Know Your Customer) is mandatory so some eWallet apps can also ask you for KYC to secure money transfer.

Authorizing Bank Account– In the next step, for setting up virtual card or Bank you may require to link your bank account details. For account configuration, send an SMS to the bank for verification to verify your mobile number with partner bank and then find bank accounts on which account to be created.

Adding Balance– You have to add this feature in your wallet app to provide the option of adding money into the wallet. In this feature, users can add money in their wallet through debit card, credit card, and net banking.

Balance Check– Users can check their available balance using this feature. In addition, they can also check their bank account balance.

Money Transfer- Sending money is now easier than ever. This feature allows you to send money to someone either by scanning the QR code or typing the number of the recipient. Apart from that, you can also use NFC or Beacon technology for sending money.

Money Transfer

Sending Money Back to Bank– Sending money back to the bank account is really a good feature ever. Wallet apps offering this feature that allows users to send money back into the bank account. You can do limited transactions in a month, after exceeding the limit you can’t send money back to the bank.

Bill Payments– Using the digital wallet app, the user can pay important bills such as credit card Bill, mobile bill, electricity bill, and more in the most convenient way.

Offer Notifications– The competition among the startups has grown higher. You should also provide this feature in your e-Wallet application to stay in the game. This feature will help your users to know about the offers on the products or services. The offer you provide can be in the form of Cashback, free shipment, discounts and happy hours.

Invite Friends or Referrals– This is the best feature of the mobile wallet app where you can ask your customers to spread their experience or word for your app for which they can be offered discounts, cashback, and discounts on every transaction.

Transaction History: The transaction history is also known as eWallet Passbook, where the users can check their transaction history.


Postpaid Features: You can consider this feature to grab customers’ attention. It’s a digital credit to customers, which can be used to buy things on a credit basis for which the customers can pay money in the next month.

QR Code: Make payment more convenient by implementing this feature in your mobile app. Most of the eWallet apps are integrated with this feature. Using this, users can send money or pay by scanning the QR code.

Multilingual: The feature will break language barriers. Implementing this feature in the digital wallet app will help your users to pay and shop in their preferred regional language.

e-Wallet App Admin Panel Features

Interactive Dashboard: An interactive dashboard will help admin manage everything associated with the transaction, user account, inventory management and more.

Manage User Accounts: All the users and merchants associated with the app are managed by the admin. The admin can also add and block users and merchants. They can also manage the daily transactions occurring through the eWallet.

Managing Limits: The admin can manage the transaction limit for the users and merchants.

Real-time Analytics: All the real-time activities such as available users, number of transactions, new users, app usability and all other important things are managed by the Admin. Through this, the admin can plan further strategy.

Offering Loyalty Rewards: It is again a great idea to lure your customers. You can provide luring offers and rewards to increase the usability of your application.

Revenue Management: Admin can get the daily, weekly and monthly reports of sales and can plan further accordingly.


Some Other Advanced Features That You Should Consider

Data Synchronization: The app is synchronized with your registered mobile number to deliver high-accuracy and security to the users and merchants. All the users’ financial transaction and personal information are protected.

In-app Camera: In-app camera here is for QR code scanning. As the user can pay by scanning the QR code through the in-app camera.

Wearable Integration: Due to the increasing demand for wearable devices, you should also provide this feature in your app to increase the uses of your app. Through this, customers can transfer money by using their smartwatch.

Geo-location: This is the best feature of the eWallet mobile application where the user can locate nearby the digital payment receiver stores.

Push Notifications: Whether it’s about transaction or important notification about offers, push notification is an essential feature to keep customers connected with the services.

Cloud Architecture: By implementing this feature in your app you can keep all records related to a transaction in safe mode on the cloud storage. It also helps access data in a more reliable and powerful way.

Required Technologies

Technology Stack

Development process

development process

And now the question is how to make a mobile wallet app or how much does it cost to build an e-Wallet application with all these features.

Developing a mobile wallet app could be a simple and challenging task as well. Thus, there are various mobile app development companies out there, but you must choose that company that has an excellent track record in mobile wallet app development and mobile wallet app developers as well.

The cost to build a mobile wallet app with basic features is around $20,000 to $30,000. While the application with all these discussed features will cost you around $45000-$50000. Click here to get complete cost estimates for an app like Amazon Pay, Google Pay and Paytm.

In Short

In this era of the mobile-driven world,  mobile applications have completely changed the way of payment system or money transfer. From electricity bill payment, account balance check to money transfer, the things are being paid by using mobile wallet applications. This time, developing mobile wallet apps is a great idea for startup and business.

If you are looking for a reliable and cost-efficient mobile app development company to build an appealing digital wallet app, come and discuss your plan with us.

Ajay Goyal
About author

Ajay Goyal is the founder of Endive Software, is the leading IT Company based on India. He works dedicatedly with the clients to give industry-based results. His passion for learning the trending technology aids the team members to introduce unique and brainstorming. He runs development services like mobile app development and web development for enterprises and startups.
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