How Much Does It Cost to Develop a Mobile Wallet Application?

The fact that Ecommerce is as big as the industrial revolution can be verified by looking at two of the most revolutionary companies in two different corners of the world and their industries of operations: Amazon and Alibaba. Both the companies have managed to make several billion dollars in market cap and are now counted as the biggest influencers in the world. They and many companies like them have given way to a specific category in payments – Mobile wallets leveraging mobile wallet app development technology offering seamless digital payment solutions.

Mobile wallets came into rise after PayPal disrupted the payments industry. The growth in global smartphone production and increases availability of internet infrastructure has only fuelled this growth. The result is now that from the sophisticated financial markets of New York to the developing markets of Mumbai, the most revolutionary companies in fintech are mobile wallet app solutions providers. Let’s Nurture is a leading mobile wallet app development company providing digital payment solutions and integration to business applications.

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Basic Features and Cost of Mobile Wallet App Development

App Users Registered Users Admin Panel
Basic Features User Onboard Manage Users
Two-factor authentication Manage Banks
Set UPI PIN User Wallet Management
Add card Transactions Management
Add bank account Filter Transactions
Digital Wallet QR code management
Add, Send and Receive Money Offer and Coupon Management
Scan to pay Recharge Management
Offers and Coupons Bill payment management
Recharge and Pay bills Manage Notifications
Recurring notification setup Manage Investment
Autopay setup Manage Insurance
Investments Manage Loan
Growth product finance track Manage Stores
Insurance policies Manage ATMs services
Loan policy Manage Reports
SIB Investments Manage Gifts and Rewards
Stores Manage referral policy
ATM Services Static page content management
Transaction History
Block/Unblock users
Rewards and Gift cards
Tickets info
Refer and Earn
Location access
Multilingual
Settings
Static pages

Add-On Features

App Users Admin
Add-on Features Recharge and Bills Verify User Document
Offers and Coupon Codes Manage Recharge and Bills
Scan and Pay with QR code Manage Offers
Payment Due Date Reminder Dashboard Analytics
Invite and Earn Customer Analytics

Resource Team for Mobile Wallet App Development

  • 1 UX Designer
  • 1-2 Android App Developers
  • 1-2 iOS App Developers
  • 1 Backend developer
  • 1 Quality Analyst
  • 1 Business Analyst
  • 1 Project Manager

Technology Stack We use to develop

Sketch
Sketch
Xcode
Xcode
Android
Android
AWS
AWS
Fabric iOS
Fabric iOS
Android Studio
Android Studio
FCM
FCM
Geo-fence
Geo-fence
Google Analytics
Google Analytics
Google API
Google API
MEAN Stack
MEAN Stack
Mantis BT
Mantis BT
Sass
Sass
sendinblue
sendinblue
Google Webmasters
Google Webmasters
stripe
stripe
swift iOS
swift iOS
ZOHO
ZOHO

What you get by teaming up with us for developing your mobile wallet app?

  • We are a team of experienced and highly enthusiastic software developers, app developers, UI/UX designers, business analysts and product managers.

  • Collectively amongst us, we have an experience of 10 years in the mobile application development services development industry. This would mean successful product ideation, global quality development and guaranteed approval by Android and IOS app stores.

  • We bring market competitive costs of development.

  • We also help you developing and implementing an effective product strategy.

What are you waiting for…!!

So what are you waiting for? Get in touch with the best mobile wallet app development company now.

Looking to know more on exact development cost for your Mobile Wallet Application?

Let’s team up now!!

FAQs

No, this feature is not feasible to be implemented in a mobile wallet app. However, there can be a setup for the notification from the app to make the payment on a certain date.

RBI has mandated kyc for wallet users, and it will be done in a phased manner. Based on your requirement, even without kyc, you will still be able to do recharges, bill payments etc through your wallet amount but the only catch is that to send money/bank transfers, you will need a kyc.

Customers can withdraw money in the form of gift vouchers or by adding money into the wallet.

Gift Vouchers, including any unused Gift Voucher balances, expire one year from the date of issuance. Gift Vouchers cannot be reloaded, resold, transferred for value or redeemed for cash. Unused Gift Voucher balances cannot be transferred to another PhonePe account. No interest will be payable by PhonePe on any Gift Voucher or Gift Voucher balance.

In a mobile wallet app type concept, monetization can be integrated in multiple ways. Below are some approaches to consider:

  • Transaction fee from credit cards: Debit card payments are completely free. Yet, if you transfer funds from a credit card, Venmo charges a fixed commission of some percent.

  • Commission for accelerated payments: Usually, Venmo processes payments to bank accounts within 2-3 days. However, the user may expedite the transaction by paying an extra fee. Paid service significantly reduces the time of transfer.

  • Merchant fee: You can make purchases with Venmo at selected online stores. Such stores enter into a partnership agreement with the Venmo app. In return, venmo charges a commission on each transaction.

Contact Us

Have an !dea or need help with your Mobile Wallet App Development Work ?

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Address

Suite 9.02, Level 9,

175 Castlereagh Street,

Sydney2000

NSW Australia