How Much Does It Cost to Develop an E-Wallet Mobile App?

“Oh no I don’t have the cash, I need to go to the bank now” this line has now vanished from our digital world, as we are now almost 100% digital, our daily things also becoming more (E-Life). 

And similarly, the nature of payment has also changed, now in 2021, almost every single person knows how to do cashless payment if they don’t have cash in their pockets. 

Yes, we are talking about online payments. In the past, there was only one option available, but now there are lots of mods of cashless transactions available, in the form of credit/debit cards, PayPal, and also E-wallets, and M- wallets, which have covered the way of mobile payments. 

The E-wallet project is a big approach for making these types of transactions fully secured, faster, and easier to do without any complexity.

So yes, e-wallet mobile app development is going to be our main headline for this blog. We will give you all the information about the e-wallet. People love this idea of digital payment through an e-wallet mobile app or payment gateway model for completing their daily transactions. 

Nowadays people are scared to carry a big amount of money in their pocket, which is not good from the safety point of view as well. In the case of the e-Wallet mobile app, it offers one in every of the simplest secure ecosystems for doing online payments, and at the same time, it is fast and reliable.

What Is an E-Wallet Application?


An E-wallet refers to a digital or mobile wallet to store money online. These wallets can be used like net banking but here people need to add money to the particular wallet to spend further. Or one can easily link the bank account with these wallets and now they can directly transact.

Here payment can be made by simply scanning the QR code or also by entering the mobile number of the receptor. These technologies have made the transaction process a matter of seconds and thus people have become more efficient in using them.

But since these wallets hold all our financial details, these payment gateways must be completely secure, and all the details entered are always in encrypted form so that it is not accessible.

Advantages of E-Wallets

Many companies have developed their self-built wallets like Amazon Pay, Google Pay, Apple Pay, etc and they earn their revenue on every single transaction done through their wallet. And so each company gives different attractive offers to the users to use their particular wallets. Some of the advantages of using an e-wallet are mentioned below:

  1. The developers of the wallet give many offers to their users like cashback, free coupons for dinner or shopping, or any kind of service. Thus, users are rewarded for multiple transactions through the wallet.
  1. E-Wallets are not just limited to paying for purchases but electricity charges, mobile recharge, train or plane ticket booking, TV recharge, gas booking, etc. can be done easily through these wallets without any complications.
  1. While making payments through these wallets the user can by default keep a record of all the transactions done in a month, thus, maintaining a monthly budget.
  1. These are considered as SEZ payment gateways as all the details entered are in encrypted form and users can always set a biometric lock or password to give an extra layer of security.

Types of Mobile Wallet Around The World

These apps are most used and popular around the globe:

  • PayPal from United State
  • Google Pay from India
  • Samsung Pay from South Korea
  • Stripe from Dublin, Ireland
  • Adyen from Amsterdam, Netherlands
  • PaySimple from United States
  • BlueSnap from United States
  • Authorize.Net from Foster City, California
  • Apple Pay from United States
  • WePay from Redwood City, California
  • Amazon Pay from United States
  • Payoneer from United States
  • Alipay from China

The Key Features of E-wallet mobile App

User Panel

User Panel Features
  • User registration via email or social profile Digital customer onboarding is so easy in many industries, but fintech, and the e-wallet industry, in particular, requires a set of procedures to be followed. Customers will have to submit and verify their identity for KYC requirements to regulatory bodies. The e-wallet app should have the facility to upload documents within the app, and the other option is for KYC to be accepted for verification through kiosks.
  • Add relevant bank account details – Users can add relevant bank accounts by filling in all the necessary details in the e-wallet app. They can also register with a particular bank to make future payments later.
  • Add amount – Users can transfer money from bank to app wallet as per their requirements. The Automatic Add Money feature can also be automated to remove the need to add money manually.
  • Check balance – Users can also check their account balance through the app wallet in the check balance option.
  • Transfer money – Users can transfer a fixed amount by entering account details or the mobile number of the receiver.
  • Transaction History – The app keeps track of all the past transactions done by the user. Users can search for a specific transaction with some advanced filters.
  • Send payment request – This feature allows the user to send the payment request to others so they can send money as well.

Merchant Panel

Merchant Panel features
  • Adding products – Merchants may add new products from time to time. 
  • Generate the QR code – The QR code is generated by the merchants so that it can be scanned by the users for making online payment.
  • Offers the reward points and loyalty – It is again a good idea to offer loyalty rewards to your customers. This way, they will be excited to shop more and more.
  • Withdrawing money – Since the payment is made by the user after the purchase, then the merchant can withdraw money from their accounts whenever they want.
  • Push notifications – Customers can be notified about sales, new stocks, discounts and other essential information through push messages.

Admin Panel

Admin Panel Features
  • To manage users – All users, contacts associated with the app and all the transactions are tracked and monitored by the administrator.
  • Real-time Analytics – Admin keeps a record of all the transactions made, offers availed, app usability, and other details directly from the admin panel.
  • Add new offers – The admin provides the users with the latest offers and discounts, referral code, rewards, etc.
  • Revenue Management – The admin is also responsible for channeling the revenue from this section.
  • Interactive Dashboard with Secure Login – Admin can keep track of all the details and information of the users registered with the app. Dashboards should be configurable so that the administrator can personalize them accordingly, and it is also the admin’s responsibility to give secure login to customers.
  • To manage or extend security – From here the administrator can take proper action to ensure and extend the security of the app. This will also increase the credibility of the user with the app.

More Additional Features of the Mobile Wallet App

  • Virtual Card – Users can easily generate a virtual card like their normal credit/debit card. These virtual cards allow users to easily transact without entering details every time.
  • In-App Camera – This built-in feature will allow users to easily scan the QR code. Also, users can upload their KYC details and photos using the in-app camera.
  • Push-Notification – This feature allows enhancing and maintaining more user engagement on your app. They can be kept updated with all new features, discounts, and offers via SMS or email. 
  • Digital Receipt – Digital receipts are generated for all completed transactions. It can be shared within the app, or by email, or via the phone.  

Control over the personal expense, Integration with the wearable technologies, Integration with the e-Commerce, Chatbot support, CRM system, OTP, data syncing. These are some additional features of the mobile wallet app that can be changed from time to time.

POS Payments Integration Methods in E-Wallet Application Development.

  1. NFC (Near-Field Communication)

NFC is the best tool for convenient information sharing or amount transfer. NFC allows the transfer of money or sharing of information by simply touching the phone with the NFC receiver. Nowadays almost every e-wallet app is using NFC solutions for contactless payments. One such present example is Samsung Pay.

  1. OR Codes

It is used to make payments from contacts that are not saved on the phone. To make a payment, users simply need to scan the QR code of the other person with whom they wish to transact. It is a fast and simple way of doing transactions.

  1. Mobile Online Payment Apps

Mobile payment apps are the best e-wallet mode suitable for businesses. These apps help the business dealer to partner with other dealers, thereby helping them to transfer cash easily and effectively. Users can transfer big amounts of money in a safe and secure domain without the involvement of any third parties.

  1. Internet Banking

These payment methods tend to attract more traction than credit cards. Internet banking is all about making payments directly through the account without any interference from any payment cards. Here, the customer will be in a direct relationship with their specific bank and the amount as payment will be deducted from their accounts immediately.

Tech Stack For Mobile Wallet App Development 

NexmoFor SMS, Voice and Phone Verification
PaymentBraintree, Paypal, Stripe, E-wallet, PayUMoney
DatabaseMongodb, MySQL, HBase, Cassandra, PostgreSQL, MailChip Integration
FrontEndjQuery, Angular, JavaScripts, CSS, HTML, Bootstrap
Cloud EnvironmentAWS, Azure, Google, Salesforce, Cloud Foundry
Real Time AnalyticsHadaap, Spark, Big Data, Apache, Flink, Cisco, IBM
Push NotificationTwilo, Push.IO, Amazon SNS, Urban, Airship, Map, AdPushup
DatastaxFor Data Management
MandrillFor Everything Related to Emails
Zbar Code ReaderFor Scanning the QR Codes

Choosing Your Mobile Wallet App is Important

When it comes to choosing a mobile app development partner to build your Android e-wallet mobile app, it is important to make the right choice. This will not only cut down on useless expenses but will also reduce the time required to build an e-wallet mobile app to a great realm. Choose a firm that has goodwill in the market and a good record with satisfied customers.

Banking Laws and Regulations to Follow

As you step into the e-wallet mobile app business, it is important to move carefully as one must have enough understanding of the banking laws and regulations that go into doing online transactions. Adhering to the norms, rules, and regulations of the government will ensure that your app never gets into any sort of legal issues. As soon as you create a wallet app, then you are acting as a bank, and thus you have to pay a fixed security amount first (depending on the area in which you are developing the app) to the government as per the guidelines.) will be required to be submitted. There are many other banking laws and legal aspects as well to acknowledge, and for this, it would be great if you hire a financial and banking advisor who can explain it all to you.

How Much E-wallet app development cost in India

E-wallet app development cost in India

There are many factors affecting the cost of e-wallet mobile app development be it app design, number of platforms (Android, or iOS, or both), features, MVP, app testing and publishing. In addition, the choice of mobile wallet app development company, its pricing model and other important aspects also influence app development pricing. However, when it comes to the estimated cost of building an e-wallet mobile app, it can be around $35,000-$50,000. 

The cost of app development always changes according to features, if you want all types of features such as online service and bill payment integration like (Paytm and M-pesa) in your app then it will cost approximately $75,000 to $100,000.

E-Wallet Website Development Cost

Since the website features are not as rich as the app, the development of the e-wallet website requires less time and less staff involvement. Hence the cost is also quite less as compared to the mobile wallet app development cost.

The cost of e-wallet website development is around $30,000 to $40,000.

In The End

All of the points define that the development of a mobile e-wallet requires expertise, so it is very important to choose the right developer who can conceive the concept and idea and implement it exactly as the owner does with his immense Wants with the skills and resources. 

As we mentioned earlier, choosing the right developer is a vital part, so before investing anything in this make sure to research first. 

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