Certainly, the concept of digital payments is ruling the world. Owing to the current scenario, people just love to use the eWallet Mobile Apps or the payment gateway models for making the transaction. Reason being, they provide a safer ecosystem for making the payment and are very fast and reliable.

Nowadays people are actually not ready to takes the pain of standing in the lines for depositing the cash or for making a transfer. In order to keep the financial chores at a bay, user are not only adopting the concept of eWallet Mobile App, but the businesses are planning to get onto the surface with their own customized robust financial solutions.

Number of users of leading mobile payment platforms worldwide as of August 2017
Mobile Wallet Users

Therefore, the concept of eWallet and more secured mobile apps implemented by the powerful technologies such as NFC, Bluetooth, Blockchain etc are likely to dominate the market in the coming decades. So, keep reading the post for identifying the top solutions of the eWallet Mobile Apps along with the top attributes, framework, required team structure and cost.

The Solutions:

NFC
Near Field Communication, one of the best technologies that is used for sharing the information and transferring the funds with a really convenient approach.  Nowadays, most of the wallets are using the NFC communication channels for making the payments in a contact less way.

Bluetooth and iBeacon
It also identifies your nearby friends for making the payments. The Bluetooth and the iBeacon technologies helps of make the payment transfers very secured and fast. These evolving technologies are very much embraced by the toady’s user community.

QR Codes
These types of eWallet Mobile apps are mostly used for making the payments with the persons you frequently meet or the ones who are part of your office or social community. Such type of mobile app just requires scanning the QR code of the other user’s smart phone, with whom you want to make transactions in a really easy and simplified way.

Blockchain:
A eWallet Mobile App powered by the blockchian is the one of the one evolving trends for making payments. Reason being it is highly secured and immutable.  These mobile apps are mostly used by the governmental organizations and financial institutions as they involve huge amount to be transferred.

Payment App
Such eWallet Mobile Solutions suits best with the business requirements. Simply business can partner with the other business and the local merchant sections and can transfer the cash very effectively. With the help of personalized mobile apps, transferring huge amounts becomes very safe and it ensures that no third party is involved while making the payments.

Mobile Wallet App Consultation

Main architecture of an eWallet app:

User Panel:

User registration
This is the major section of an app; the user can sign-in with the social network or email account credentials.

Authorize bank account
Users can select the bank details from which they want they want to make the transactions. They can register a particular bank account and can pay with it at any instant.

Add balance
They can add certain amount balance in their account according to the number of transactions to be made.

Check balance status
Once all the transactions made, the users can view their account balance and can check all the incoming and outgoing cash flows.

Transfer cash
The users can transfer the cash amount to the other concerned users by entering the account details thus, allowing in making the transactions effective and convenient.

Pay bills
Users can pay the bills via their registered bank accounts so as to maintain the track of all the cash flows   in the convenient way.

Accept payments
Users can receive the payments as well.  Simply by sharing their corresponding account details users can accept the payments in a secured manner.

See offers
Under this section, users can see the offers while making the transactions and can redeem the points as well.

Transaction history:
All the transactions made by the users are recorded and are tracked. The user can search for all the transactions with the advance filters form the transaction history.

Invite friends
Users can invite their friends as well for sending and receiving the funds. This way it really gets easy for them to transfer the amount as and when required without asking for account details the every next day.

Wallet App Development Company

Admin Panel:

Dashboard
All the users registered with the app along with their profile and other basic information is tracked and monitored by admin.

New offers
All the new offers are managed by the admin. Offers related with the referrals, rewards, frequent transactions are governed and monitored accordingly.

Mange the users
All the users that are associated with the app and making the transactions are tracked and monitored by the Admin.

Manage the contacts
All the users that are associated with the app, the ones making the payments very often and all the user retention and acquisition techniques are managed by the admin.

Analytics and reporting
All the reports related with the number of users associated, types of offers most availed, number of transactions incurred, app usability and bounce rates and all other important details are generated. Admin can accordingly validate all the reports and can outline certain solutions for augmenting the visibility of the eWallet Mobile App.

Add/block features
According the user behavior and as per the count of rejected or unauthorized payments processes admin can block the users. In the same way, he can also add new user requests depending on the number of users already aligned with the app.

Advance Features:

Geo-location
This is one of the great features of a eWallet Mobile App. Although, adding this feature will raise the cost of your app, but then adding it will significantly raise the visibility and popularity of an app. With the help of GPS users can locate the nearby users and can make the payment by just tapping on the user name. This helps to save a lot of time as no account information is required to be filled and all the transaction can be accomplished with a very simple and easy approach.

Data synchronization
Now while discussing the features of a eWallet Mobile App, the data synchronization is likely to play an important role. The app is synchronized with your registered social account network and mobile number so as to deliver a high level security and accuracy.

The bank account linked with the mobile number is displayed automatically hence; users are not required to fill the long bank account forms.

Booking calendar
So, with this feature users are not required to remember the date for making the transactions. They can simply highlight the date on the calendar. On the particular date, automatically the alert is send to the users.  This way the process of making transaction becomes very easier and keeps the users away from any payment related headaches. They can even share the calendar with their friends as well in order to make the entire payment ecosystem very effective.

In-app camera
In-app camera comes as the great use in the QR code scanning. With the help of In-app camera users can send the receipt of transactions to the other users. All the transactions can be confirmed within an app so as validate all the fund transfer requests instantly.

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Cloud operations
With the help of cloud operations, all the transactions can be stored in the safe and reliable form. The cloud operation helps in augmenting the quality standards of your app and enables the users in making the transaction in a very faster way. It helps to access the data in a more powerful way and captures a high user attention.

Wearable integration
This is definitely the feature for which the users are nowadays looking for. Users can integrate their app with the smart wearable devices and can monitor all the payments on the wrist. It adds greatly to the user convenience and at the same time defines a new approach and trend for making the payments with a really easy and convenient approach.

 Create virtual cards
Almost all you have a credit/debit card. But with the advancement in technology the eWallet mobile app will allow the users to create a virtual card as well. This virtual card looks very similar to the credit or debit card and can be used within an app. Users are not required to enter the account details, just the username and password is sufficient for making the payments. This can be said as one of the best attribute of a eWallet Mobile App.

Tokenization: It works great for improving the security of the transactions. It generates a one time code and hides the information pertaining to credit/debit card information from the merchant.

Push Notifications: Push technology helps in keeping the users attentive and engaged. They can be kept informed about the different rewards, points, other deals and alerts the users whenever a transaction is made or requested.

QR code: Simply scan the QR code of the users mobile and make the payments with a highly effective and convenient approach.

Digital Receipt: For all the accomplished transactions, a digital receipt is generated. The same can be shared via Phone, email text or within an app.

Categorization and portability: Users can categorize the different transactions and card details as per their convenience. They can easily add money and can share it over both online/ offline modes.

Loyalty Program:
Offer rewards on every successful referral. Users get the loyalty rewards and at the same time it helps in increasing the app visibility.

Other Technologies

Bandwidth, Twilio –   For Push Notifications
Nexmo –   For SMS, Voice and Phone Varification
Braintree & PayPal –   For accepting payments
GWT – For Powerful Programming
Datastax – For Data Management
Mandrill – For everything related to emails
ZBar bar code reader- For scanning the QR code
Debian – The Universal Operating System
Database – MongoDB, Hbase, Cassandra, Postgress, Mail Chimp Integration
Cloud Environment – AWS
Realtime Analytics – Hadoop, Spark, BigData, Apache Flink, Cisco, IBM

So Find a Right Development Partner

Starting with an innovative concept, unique ideation, passion and the right Mobile App Development Company yes will drop the cost and time framework for developing a eWallet Mobile App upto 40%.

Therefore, before embarking with the app development strategies of a eWallet Mobile App, the firms and the business must validate and verify the past track records and the time required and invested by the Mobile App Development Company for engineering eWallet Mobile App. It is always advisable to compare all the reputed development firms on the grounds of experience, goodwill and costs.

Other than finding the Mobile App Development Company there are some key persons as well that actually undertakes the responsibility of developing the app from the scratch. Find them below and check if they are imbibed with the true passion for developing your eWallet Mobile App.

Project Manager: Owing to this position it is mandatory that the person should know all the guidelines for engineering an out-of-box eWallet Mobile App. She/he should be able to identify that what is best for the client business model, and must be able to figure out the best possible solutions.

Developers – They are the actual creators of your mobile app and take the complete responsibility for crafting out just the perfect solution for making your app a clear winner in the cut throat competition prevailing out there. Of gorse, the technical team can be comprised of Android App Developers, iOS App Developers headed by the skilled and experienced project managers.

Designers- Designers are the one actually takes the essence of your app to a whole new level. A beautiful deigned app for sure will attract the users, no doubt how strong it is on the behalf of development. So, it is imperative that you find the right team of UI/UX designers that can comprehend the core idea of your mobile app

Testers- An app befits your business in case it is true to quality. Thus, role played by the team of QA experts and testers cannot be undermined. An app full of bugs is clearly abandoned by the users. Therefore, having the good testing team is a must as they test it by applying all set of unique combinations and makes all the possible efforts for finding the bug. In case the apps face them all without failure, for sure it can achieve the monumental success across all the market standards.

Team Engagement Modal (Offsite, Onsite, Hybrid)

Depending upon the physical location of the business, individuals or the operators can select from any of the three below engagement models

Offshore is the way when the operator or entrepreneurs want the project to be completed from the remote location.

Onsite is when the business individuals want the project to be done in the office premises.  So as per the guideline, the required and allocated eWallet Mobile App developers are sent to the office along with the assigned work.

Hybrid is the mix of both and is opted when the business persons wants to compete the app within a minimum time. During the office hours developers are sent to the office and after that the team works for from a remote location.

So, What is the price for developing a eWallet Mobile App

Most of the companies charge as per the man-hours they put in developing the app. In the regions like North America for instance, the price is around $150 per hour, in Europe it is $130 per hour, and in and the companies situated in Australia charges around $190 per hour.

According to the statistics, India is the most affordable county for engineering the quality eWallet mobile apps at the price $25 -$ 80 per hour.

The cost developing a eWallet Mobile app is around $25,000 to $50,000 and apps which have extensive features like such as Paytm can cost up to $100,000 to $150,000