How to Create a Mobile Payment App That Is Trusted by Experts and Loved by All

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As the world sees the operations paradigm shift to the digital environment, it is not just the basic SaaS systems that are gaining popularity but there are various other technology products in the market. We have a lot of applications that are making things easier for us. Medicine delivery, grocery delivery, food delivery, books delivery, electronics delivery, and whatnot. You name it and it is delivered to your doorstep in the shortest timespan. And to make the shopping process easy, your wallets have moved to smartphones.

Mobile payment applications have seen exponential growth over the years with a rise in ecommerce. To withstand the competition, develop mobile wallet applications that can be scalable to future trends too.

Mobile Payment App Development: Popularity in Numbers

To understand the role of e-wallet applications for the present generation let’s have a look at some of the interesting stats that can guide you through:

  • According to a survey conducted amid March-April 2017, reflected that 67% of the users claimed that by the year 2022, the account-to-account transfer would be the most sought after payment instrument.
  • Another inference of the study reflects that around 69% of the users claimed that digital wallet would be the leading retail payment technology by 2022.

These are just a few facts that reflect why you need to build your e-wallet.

If you aren’t sure how to proceed with the complete thing, just hire the right e-wallet app development service providers who would make things easier for you and help you, how to create a mobile payment app.

What Is a Mobile Payment App?

Before you decide to make a wallet app make sure you understand the concept well. An e-wallet mobile application is a fintech product that lets businesses and individuals make transactions via smartphones. It stores various payment methods via Ethereum, Bitcoin, Credit Cards, Debit Cards as well as loyalty points, reward points, discounts, and cash back offers.

Mobile app developers often create a payment app that includes almost every payment alternative and every way that can be used to make any transaction possible.

Why Build Your Own Mobile Wallet App?

How to create a payment app is quite a complicated task. If you are looking for something that would help you tell a different story, make sure that you build a digital wallet that serves all the purpose well.

Before you enter the market, understand why you want to build your own mobile payment app.

  • Well, foremost you need a payment gateway because it is a great way to monetize and earn profits these days. Contactless payments are the new normal around the urban and sub-urban areas around the world.
  • This is quite a popular way of getting massive success in limited time. If your mobile app is developed well, then it surely would be an excellent source of revenue. When we talk about the payment business, you enter the domain that is really critical and significant, that is the banking and finance sector.
  • When working on the payment apps you need to include various specifications and explore an avenue for growth in the industry. With various factors like APIs for merchants, off-site payment interfaces, etc. for payment gateways, you get to build a strong and unique business identity in the market.
  • The market needs new players to bring innovation in the field. Create interesting gateways for various functionalities like advancements in general and generic payments. There is always room for more and hard study would make it easier for you to find loopholes and expand your work.

Do not miss this bankable opportunity and instead of pondering how to build mobile payment app like Venmo, brainstorm some creative aspects of your app.

Some convincing reasons why to create a payment app:

Economies Are Turning Cashless

Economies are turning cashless these days. Gone are the days when cash dominated the market, we have seen the switch towards online transactions around the world. So, just play along and create a digital payment app for yourself.

Read Also: How to Convert your e-commerce store into a Mobile App?

Integrated E-Wallets Are Trending

Most online shopping apps come with integrated E-wallets. This trend would help you reap revenues and back your business with strong financial institutions.

Great Return Rates

Financial institutions are a great domain to invest in. Investing in the industry would help you earn great profits in a short time span.

Must Read: Expense Management Mobile App Development Cost & Features

Government Support

As the government these days are expanding their functioning to cashless transactions, this is a great way to enter the market and gain some government support.

Reach Global Audience

Most payment gateways and apps these days deal with the global audience. Thus when you build your payment app, you have the world that would use your app and help you earn great profits.

Backed by E-Commerce

Ecommerce now uses integrated apps for online transactions and helps you build a strong domain in the market.

Well, these are a few reasons why you need to have an online payment app for your business and how it can help you grow.  Now that you know why e-wallet app development is a rising trend, let’s now see how does mobile wallet app actually works.

How Does Mobile Wallet App Work?

Before we answer how to create mobile wallet app, let’s see how it would function. Our smartphones are modifying the way we make transactions turning our devices to trusted means.

We can talk about the mobile payment process as a simple interaction between an e-payment party (business or receiver) and a capable party (payer or sender) where one of the parties has a mobile. The mobile wallet design is built in a way that it supports the ease of transaction process.

The complete transaction process takes place in basically three steps.

  • Initiate Payment
  • Activate Payment
  • Confirm Payment

Digital payments are carried out through financial institutions and various other payment methods. Over the years as the technology advanced the mobile wallet UI design too has evolved. The functioning has moved from bank dependent to free of limitations usually applied to bank-anchored services. As cross-platform mobile app developers at Octal IT Solution work on your product, they make sure to add innovation and unique values to it.

Here are a few things that inspire them to strive the best on the screen:

  • The popularity of the mobile devices over the time has made it more convenient and easier for the digital wallets to make their place in our daily lives.
  • The diminishing use of cash offers the developers to bring better, safer and more reliable payment approaches for low value transactions with these applications.
  • The cost-effective e-wallet app development gives better opportunities to businesses like yours to reach us and enter the most significant domain with user-friendly and interesting applications.

Here, we share with you the simple payment cycle that is the basic and the common part of any e wallet app that supports digital transaction in all forms.

The design of your digital payment app is the key to its popularity. It needs to develop gradually in a way that you get the best of the results in the limited time with least investment.

Ewallet System Design

The eWallet app helps you protect your payment details and other information by keeping your passwords secret but accessible to you in a few clicks when you need them as and when required on other devices. When talking about a digital wallet app, there are various ways to top-up your e-wallet gateways, credit cards, pos terminals, p2p money transfer apps, etc. Generally your e-wallet app helps you pay for the smallest things that you may need.

Realted Blog: Point of Sale (POS) Software Development Cost and Key Features

When talking about the wallet app design, they are designed specifically to be very efficient and acute when transferring data to retail checkout forms. As a user needs his credentials on various devices, when making payment to getting access to a service, your app would be possible for retrieving the credentials that may be needed. Not just instant payments, you can stock funds in your app and use them as and when required.

The digital wallet apps are designed with two components: software and information. 

  • Store the personal information and other important details of the user.
  • Encrypt the data in the database of the digital wallet a pp.
  • Each terminal needs to be a mobile phone, a pda or a dedicated hardware module.

Implementation of digital wallet has now become a preloaded facility that is available with most services where users can buy a range of products from airline tickets to groceries without swiping a debit or credit card. This offers them a simple case model that helps them save time, efforts, energy and time.

If any online grocery store or ecommerce site has a complicated checkout system in this case a poorly developed digital wallet may fail to recognize the payment forms and thus crash. We make sure that the app you are looking for is well-developed and no matter how complex the checkout process is, they can read the payment form and make the process easier.

The number of passwords you need to login to your systems can be complicated. With our module we have the ability to define and manage e-wallet accounts and grant a high level of accounts security and maintainability.

How to Create a Mobile Wallet App That Your Customers Trust?

When you decide to make your money wallet there are just a few things that you would need to account for. If talking technically, it is a simple three-step process.

Related Blog: eWallet Mobile App Development Cost & Features: Read It All Before Hiring a Developer

Let’s have an overview before we get into the details of how to create a mobile payment app.

3 Steps to Create a Digital Payment App

Step 1. Decide the Aesthetics: How Your Mobile Payment App Looks?

The most complicated aspect to think of when you struggle with how to start a mobile wallet business is to find the right looks of your e-wallet application. The navigation, color scheme, icons, etc. play an important role in setting up your application for the market.

A custom on-demand mobile application development team would make it easier for you to have an application that talks about your business exactly.

Step 2. Include Exemplary Features: What Are the Features of Your Mobile Application?

As you decide to build a payment app for your business, study the competition in the market. Studying the information would help you figure out the issues that your competitors could not solve and you can enter the market that gets you an edge.

Step 3. Launch Your App: When to Take Your App on Playstore?

After you are done with the development process the next is to take your business to the digital domain. Launch it on the Google Play Store, Apple App Store, and other platforms that would make things easier. How to build a mobile payment system is one thing, another important part is where you launch your e-wallet mobile app.

Your mobile wallet app development fits within the perimeter of these three steps. Let’s now explore each of these steps in detail and see what the requirements are and how to create an online wallet.

Decide the Aesthetics: How Your Mobile Payment App Looks?

When you hire a mobile app development firm for your mobile wallet app development just make sure that you have a clear idea of how your app should look. The important aspects that decide the aesthetic of your mobile application are:

Understand Your Audience

Before you decide to work on how to build a wallet, study your audience well. Research on demographics, audience behavior, understand their requirements and develop an app that concentrates on the target audience.

Conventional Elements

Use conventional elements to bring on the screen an interesting user experience. Other than this because it is exactly what your users are aware of, it becomes easier for them to communicate and connect with your app. If you use something completely out of the league, your audience may find it difficult to explore the opportunities you have to offer.

Uniform Design

A uniform and synchronized design would bring a neat and sorted experience on the screen. With loads of experiments at one there are chances that your hybrid app development firm brings a chaotic result that would not reflect well.

Interactive Look

If your app doesn’t have an impressive look, then you need to consider how to build your online payment app. It is important that your app is interactive with some interesting elements that keep users engaged.

Platform Specific

Make sure to enter the market with a platform specific solution that would limit your investment. The cost of development of e-wallet apps largely depend on platform specific solutions. Just choose the right platform and let your UI/UX designers bring magic on screen accordingly.

Speed of the App

When working on the aesthetics and elements of your app, make sure you also consider the speed of the app. Add features that are important for your application, rest add elements that do not make your app too slow.

Keep App Design Simple

When working on the UI/UX design of your app, make sure that the design is simple. A very complicated application would become difficult for your customers to work on and thus, they would reach to apps with better design.

Hire the Right UI/UX Team

To ensure that you enter the market with the right application hire UI/UX team that understands how to develop mobile wallet applications. Experience and expertise in the field would help you move ahead in the market with your chin up.

These are a few points that you need to focus on when you decide to enter the market with a digital payment application. Walking with the trends is a great way to earn revenue and reach heights of popularity.

Include Exemplary Features: What Are the Features of Your Mobile Application?

When thinking how to develop an e-wallet payment application, one thing that you strictly need to focus on are the features that you may include in your mobile wallet app development.

The Interactive and Smooth UI

The complete app development story depends on the interaction of the users with the app. It needs to be engaging enough to make sure that your customers do not face any issues when they are using the application for its functionalities.

The Cloud Integration

When you are integrating the cloud, it is important that the data being worked on is stored in a secure environment and the transaction history can be explored anytime. The cloud-integration solution must offer a seamless experience.

Data Synchronization

The data the application needs to save overtime must be accessible only when the app is used. With easy recovery alternatives, you can take a backup of your data on your smartphone when required.

Multiple Emails for Convenience

With several emails linked to a particular account, it becomes easier for the user to manage payments. Also, this plays as a trick to hackers thus adding to the security of your mobile application.

Privacy of the Information

No details are revealed during the transactions. When developers are asked how to build a payment app they often make sure to focus majorly on privacy as any payment app would have the most critical details of your organization.

Multiple Currency Conversions

Supporting numerous currencies of various nations with automated conversion makes it easier for you to go global. Also, your users can always avoid the extra conversion rates they may pay at the local banks.

Multiple Language Selection

With multiple language selections, people from different countries can use your app. Thus you get a larger target audience and a wider user base. When you brainstorm on how to create a payment app let your developers know your motives for taking your app global and integrate multiple language conversions for better results.

Also, Read: Language Learning Mobile App Development Cost & Features

Track Payments

Sometimes your customers may miss the text updates of the transactions they make. In that case, there should be a section where your users can review the payments that they would need to make. With easy review options, they can always look back to the total expenses in the month.

Schedule Bills

With an e-wallet app being a simple way to fill the bills, it becomes quite important for the users to schedule the payments that are meant to be made regularly. A reminder would make things easier for them without missing any payments.

Strong Customer Support

If your app can offer great customer support and your customers feel heard when it comes to resolving their issues, it becomes quite easier for you to gain popularity and take your mobile wallet application to a stronger position in the market.

These are some really common and must-noted features that any payment app around the world must have. When you aren’t sure how to create a mobile wallet app, hire a team of tech consultants who can develop app that makes things easier for you and help you earn best profits.

Related Post: How to choose the best Payment Gateway for your eCommerce website?

So, you understand well how the complete eWallet design and development works. There is a lot that goes behind building an app that makes payments as easy as scan and pay. Over the years the developers associated with us have helped organizations in digital transformation with tech support in various fields.

Here’s the business canvas of Ewallet app development to brief exactly what goes in the picture and how.


How to develop an e-wallet application is quite a complex job to undertake. When you reach to the best E-wallet app developers around the world they would make sure that your e wallet app is safe and secure to use and offer you the best services possible.  Digital payments have made the world run on a simpler and easier path with making the most complex industry so accessible to people that they feel empowered and find it easier to transact with others.

If you are an organization that is looking for white-label solutions for better ROI, our experts are available for your assistance in a click.


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