How to create ewallet app and how much does it cost to build ewallet app

  • January 27, 2020
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At present we are living in such a world where all things right from shopping, ordering the food, booking the taxi, etc. can be done by simply tapping on your mobile device.

It is often believed that the current era of mobile devices has certainly made our lives much easier as well as comfortable.

So, mobile devices like smartphones and mobile apps have certainly made an essential impact on human lives. The different latest technologies, mobile apps, and smartphones, along with different digital devices, are always in the popular trend.

Also, mobile fees, as well as mobile wallets, are few of the most updated as well as swiftly developing industries of the present time wherein every financial institution as well as mobile app development organization as well as fee and payment gateway employer is directly diving into the ewallet app development.


A few of the best examples are Amazon, PayPal, Samsung, Google, etc. Such kinds of mobile apps have certainly modified the way of people’s lives to the better side.

The success of mobile wallets like Paytm, Phonepe, Mobikwik, etc. have been sensational and also inspirational for mobile app development companies as well as entrepreneurs.

Another example is money transactions via e-wallet or mobile wallet app; there is no need to log into your net banking account and perform formalities. Instead, you can pay someone else or transfer the amount to your account with ease within seconds.

Let’s check out some interesting facts about E-wallets-

  • PayPal is the most popular digital wallet in the USA, where 81% of consumers use it. It has 392 million users worldwide.
  • In 2020, the market size of the mobile wallet was USD 5.10 trillion that is projected to reach USD 9.41 trillion in 2025 as per a survey done by Statista.
  • 23% of US consumers use mobile wallet applications to pay in-store.
  • In the United States. Proximity mobile payment app users are 92.3 million.
At present, for instance, Paytm has over 350 million registered customers. At the world stage, we have WeChat pay which has over 600 million registered users worldwide, while Alipay has 400 million worldwide users. Hence, the market for ewallet software development is huge.

Advantages of eWallet Application Development

Once upon a time, contactless payment was a challenge once upon a time, but now it is happening around us, even if you can find it at your nearest grocery store. The mobile wallets are expected to reach 4.8 billion by 2025, with a 74% rise compared to 2020. The only reason is its benefits that attract the users to use it.

Now, e-wallets are a prime mode of payment used by more than 92% of users worldwide. Shortly, this gap will disappear as new users are on boarding rapidly, and on-demand app development companies are continuously progressing towards launching advanced versions of e-wallet applications.

Let’s check out some of the key benefits of e-wallet mobile application –

1. Less Chances Of Fraud 

After adding card details to the e-wallet app, it is not displayed anywhere as information will be stored in encrypted form. In each transaction, the mobile wallet uses a randomly generated code, which is only used once. In the next transaction, the code will be different can’t be the same for the next. The e-wallets are so much safe and secure, so most business-oriented apps have this feature, especially the retail businesses that face huge transactions by multiple customers in a day.

2. Fast Payment

For payment via e-wallet, you need to hold your device only. It is such a fastest method to pay for the purchase at some shop or supermarket. It takes few seconds, and the payment is done.

3. Contactless Payment

This term came into existence during COVID-19. The reason is that the virus can spread even from the physical currency, so contactless payment is the safest way possible via mobile wallet application. Even with some digital applications, there is no need to touch the device keypad; only you need to show the device at the payment terminal and done.

4. Light Wallet

While having an e-wallet mobile application installed on the phone, there is no need to carry a heavy wallet filled with all credit and debit cards in the pocket. The e-wallet stores the information of cards and stores loyalty cards and gift cards that you can use any time. Another best thing is time to time, there are offers that you can apply while paying for shopping, recharge, bill payment, and many more.

5. Rewards

The beauty of mobile wallets is that cashback rewards are the same as we receive on the cards.

6. Money Management 

Digital Wallet allows users to manage their money in the most improved way as they can easily integrate it with money management apps. You can set the limit of transactions in mobile wallets that prevents the access expense on useless things. The wallet works only on the recharged amount that you transfer from your bank account. You can find out all the details of transactions and monitor your expense.

So, if you are planning to go for ewallet development, then you should do know its basic features.

What are Features of the eWallet app?

As there are two separate panels in the given eWallet app, the admin panel as well as the user panel, each panel has few useful features. All of these features improve the performance of the app for the end-user along with assist the admin to manage the app. There are already multiple trending mobile wallet apps actively functioning in the market.

However, before we discuss the features, let’s talk about a few solutions which can be utilized for eWallet app development:

  1. Useful Solutions
  2. The Essential Features
  3. Additional Features

Useful Solutions

  • QR Codes
  •  NFC
  • iBeacon and Bluetooth
  • Payment Applications
  • Blockchain
QR Codes

These are utilized by people for making a transaction with people they regularly meet. Even, it is also utilized to make payment with contacts which aren’t actually saved in their phone.

In order to make payments, the user only has to scan the QR code of another person with whom the user wishes to make the transaction. It is quite a simplified and smooth way to make transactions.


NFC or also known as Near Field Communication is the perfect solution for easier and convenient information sharing or even transferring funds.

Also Read:- Upcoming digital wallet trends for 2020

It even allows you to transfer the funds or even share information by simply tapping the smartphone with different devices. At present, almost every eWallet apps are utilizing NFC solutions for making a contactless payment.

iBeacon and Bluetooth

It was launched by Apple for iPhone as well as other Apple device users. It is quite a creative as well as a separate way to offer user location-based information as well as services.

Also, beacons are cheap, and also, the small transmitter devices which transmit the signal to the given apple decides which are in its actual range.

Also, Bluetooth identifies nearby devices and actually makes the transaction fast as well as secured. Such emerging technologies are utilized by almost every eWallet app solution.

Payment Applications

When it comes to payment applications, they are the best eWallet solutions that are suitable for businesses. Such apps assist the business dealers to easily partner with different other dealers helping them in transferring cash in an easier and effective manner.

The users can easily transfer a large volume of money with quite a safe as well as a secure environment without any involvement of a third party.


Even in the case of most advanced technologies, this technology is being utilized in most of the eWallet application as it offers a highly secure as well as immutable environment.

Also, the apps carried out by this technology are generally utilized by government organizations since it involves the transfer of a huge amount of money.

The Essential Features

The User Panel

1. User Registration

When the user starts the app, and before he or she uses it, the user needs to create his own account with his own email id or even his own social media credentials.

2. Connecting Bank Account

The users can easily select and enter the bank details for the purpose of making financial transactions. The users can even register with a given bank in order to make and carry out future payments.

3. Adding Money

The users can easily add money from the corresponding bank into the application as per their requirements.

4. Transferring Funds

The users can easily transfer a certain dedicated amount of money by simply entering the receiver’s account details.

5. Payment Acceptance

The user can easily receive payments from different other users. Simply sharing their own account details, the user can easily accept payment.

6. Pay Bills or Mobile Recharge

The users can easily pay bills such as utility bills or recharge their mobile phone directly from the app in quite a convenient way.

7. Transaction History

The eWallet application keeps complete track on all of the past transactions which are made by the users. Also, the users can easily search for a given transaction with a few advanced filters.

8. Booking Tickets

The user can easily reserve train tickers, bus and flight tickets with quite an ease with the assistance of an eWallet app by simply entering the trip details such as date, destination and time. Even the users can easily avoid long waiting times for booking tickets of movies as well as other events by using the application. This feature should be included in the wallet app design.

9. Bank to Bank Transfer

The app allows users to transfer or even send money directly to any bank easily. By simply entering the account number details of the particular receiver, the money can easily be transferred directly to the bank with just a few taps on the phone.

10. Payment of Taxes or Insurance Premium

Using the app, you can easily pay the income tax, sales tax etc. or even your insurance premium with quite an ease.

11. Shopping for Products including Grocery

These apps make the lives of people much more flexible by easily allowing them to readily shop for not only grocery items but also different products such as apparel, electronic items, and much more.

12. Offers and Discounts

As the competition is getting tougher, the eWallet apps offer timely discounts as well as offers to attract a number of customers. Also, displaying these different discounts and offers under a particular separate category will certainly attract many more customers.

13. Multiple Language Support

The users can easily choose their own preferred language as per their choice. Offering different language support apart from Hindi and English assist the users to utilize the app with more flexibility as well as easily.

14. Inviting Friends

The users can easily earn special gift cards, huge discounts, and promotional items on each transaction by means of referring the app to their on friends.

The Admin Panel

The users can easily invite their friends as well as send and even receive funds. It assists the users in transferring funds quite easily by asking the details each time.

1. Dashboard

The admin can easily track all of the essential details as well as information of the users that are registered with the app.

2. Discounts and Offers

The admin offers the latest discounts and offers to the users. Also, he gives the offers related to rewards, referrals, etc.

3. Manage Users as well as Contacts

The admin can easily manage all of the users as well as contacts that are associated with the app and track and monitor them.

4. Analytics

The admin keeps real-time tracking of all the profits along with transactions made, as well as offers availed, the usability of the app and the different other details directly from the given admin panel.

5. Blocking Users

As per the user’s behavior, the admin can easily block or even dismiss the user’s account from the app. Also, he can easily add a new user to the app.

Additional Features

Along with the basic features, there are some of the additional features which make the app much more reliable as well as flexible to the users.

1. QR Code Reader

The users can easily scan the QR code of the particular receiver in order to make the transaction quite swiftly and easily. Also, this technology is quite convenient as well as most used among mobile users.

2. Virtual Cards

The users can easily develop or create a virtual card similar to their usual debit or credit card. Also, these virtual cards allow users to easily carry out different transactions with ease without actually entering their details at each time.

3. In-App Camera

In this particular inbuilt feature, it allows the user to scan the QR code easily. Even the users can easily transfer the different transaction receipt to any other user. Also, due to this, all of the transactions are duly confirmed to validate the entire transaction request in an instant.

4. Integration of Wearable

By means of connecting the app to different smart devices such as smartwatches, the concerned users can easily monitor all of their particular transactions right from their watch. Hire wallet app developer who knows how to integrate wearables with ewallet app.

5. Digital Receipt

By generating digital receipts of all of the transactions as well as allowing the users to share all of these receipts with an app or through SMS and email, the users can easily maintain them.

6. Terms and Conditions of Bank

Even before you develop an eWallet app, you need to have sufficient knowledge of rules and regulations of the online transaction of the bank. As you are developing an eWallet app, essentially you are executing as a particular bank.

Hence, you need to read all of the terms and conditions as per the government's rules. You need to provide the security documents to the government according to the guidelines. Also, the most crucial aspect is that your app shouldn’t contain any of the illegal functionalities.

How much it Cost to build eWallet App?

When it comes to the developmental cost of eWallet app development, there are several factors on which it is dependent. Few of these main factors that affect the entire development cost are essentially mentioned below:

  1. Features
  2. Development Platform
  3. Developer Charges

Among the most important factors which affect the development cost is the overall features which are included in the app. In case you are developing an application with some basic features, then the entire development cost will be quite less. However, if you wish to include some of the advanced features, then the entire cost will certainly rise.

Development Platform

Also, before the development of the app, you need to ensure whether the app is for a particularly single platform or for different platforms. The entire app development cost of the actual iOS app is quite less than the Android app.

Developer Charges

The entire cost also depends on the region from which you are actually hiring the developers. In a few regions, the development cost is quite high; however, in other regions, it is quite affordable.

The cost of developing any eWallet app with all of the basic features will easily cost you around $30,000 to $50,000. However, if you wish to make the app with more advanced features, then, in that case, it will easily cost you around $100,000 to $125,000.


In the current era, mobile apps have completely changed the entire scenarios of transfer of cash. Right from the electronic invoices, account stability as well as money switch, the different things are being paid with the assistance of the usage of mobile wallet packages. Now, mobile wallet apps have become a great concept for enterprises and startups. Now, mobile wallet apps have become a great concept for enterprises and startups.

eWallets have enhanced the overall economic as well as financial sectors of different countries. Whether it is PayPal, Google Pay or PayTM, they have changed the way people transact in the market and purchase products. There have also been multiple investments in clone PayPal apps, so you can also build an app like PayPal.

Mentioned above are the key features and advanced ones that should be included in ewallet app development. Also, the cost to build an e-wallet app is duly discussed in detail.

Tarun Nagar

Tarun Nagar is the Founder & CEO of Dev Technosys, a global ranking Web and Mobile App Development Company USA. With 10+ years of experience, he assists all-scale businesses, from startups and SMEs to global brands with out-of-the-box IT solutions. He is known for his visionary qualities & adaptability to the latest technology and trends. Being passionate in every aspect, he is dedicated to offering smart mobile & web development solutions accessible and approachable for all business enterprises.

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