Following the popularity of digital wallet apps, many startups and established enterprises are trying to leverage e-wallet mobile app development in response to this growing demand. The success stories of Google Pay, Paytm, and PayPal are an inspiration for many mobile app development companies and entrepreneurs. This type of mobile wallet app has changed the mode of payment.

features of ewallet mobile app development

The Market Research Future has presented a Global Forecast Report which estimates that the E-wallet market will grow at a CAGR of 15% and is expected to reach around $ 2100 billion by 2023. e-wallets make getting rid of the waiting time to pay bills or transfer money easier than the traditional method.

The following infographic provides insights into the market size of mobile wallet transactions worldwide by region.

mobile wallet transactions

E-wallets are quickly becoming the go-to solution for many people looking to transfer money from one place to another, and with good reason. E-wallets allow users to use money stored in an online bank account hassle-free. Its transactions are quick, easy, and often free. Many e-wallet applications even allow you to check your balance, transfer money between your accounts, pay bills, reload your debit card, and more from your smartphone!

In this article, you will find the unique features and development process of E-wallet mobile application development. So, let’s get started. When developing an E-wallet app, the number one priority of developers should be to provide a secure environment for all e-transactions.

Before we explore the features of E-wallet app development, let us explore various methods and techniques used to conduct e-transactions through mobile phones.

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What are the Standard E-wallet Payment Methods?

If you have decided to develop an E-wallet, it is essential to determine which mobile wallet you need. Apart from the payment method, the features with which your mobile application is integrated will also affect the overall mobile app development.

iBeacon and Bluetooth

This method helps you to identify all your nearby friends for making payments. The iBeacon and Bluetooth technologies allow making all e-transactions faster and highly secure. These technologies are still evolving and are very much indulged by a current community of users.


Near field communication (NFC) is probably one of the best technologies being used to transfer funds and share information with a convenient approach. These days, most E-wallets are using NFC technology to make all payments in a contactless manner.

QR Codes

QR Codes are one of the widely used technologies these days. You can use the QR code to transact with people you often meet or with who are part of your social community or office. The only requirement of this method is to scan the QR code of another person’s smartphone. Thus making the process of transactions quick and straightforward.

Payment Via Fund Transfer

This is the best payment method if your E-wallet app is only being built for business needs. Your business can collaborate with local merchants and other businesses and transfer funds quickly. With a customized mobile app, massive amounts of the transfer become safe and quick and ensure no third party is involved.


Today, the most developed trend for online payments is through an E-wallet powered by a blockchain. It is due to its immutability and high security. Due to the advantages of blockchain, blockchain development companies have been in great demand. 

These mobile applications are mainly used by government and financial institutions as they have to spend massive amounts now and then.

Blockchain Developer

Features of an E-wallet Mobile App Development

Features of e-wallet mobile app development

Here are some features you should incorporate while developing a mobile wallet app for your business:

  • User Registration

As this happens with most apps, the user has to register their account on a mandatory note. Users have to use their email ID and phone number. He will receive a verification code, and upon entering the code, the application will register his account.

Some e-wallet apps also use KYC (Know Your Customer) to secure funds transfer.

  • Linking Bank Account

In the next step, you have to link your bank account details to the e-wallet, where you will make transactions and other payments. Further, you must add your card details, like CVV number and expiry date.

  • Add Money to your Account

You have to provide an option to add more money to the wallet. You can add money to the wallet from the respective bank. After adding that amount, it will be reflected in the wallet.

  • Transfer or Receive Fund

E-wallet offers you the option of sending money to someone by either typing in the recipient’s phone number or scanning the QR code. You can also use NFC or beacon technology to send money. And payment can be received similarly.

  • The E-wallet Passbook

It becomes essential to add an E-wallet passbook so that users should be able to monitor their transaction history. Additionally, you can use the filter option to go for a much-leading search.

  • Send Money Back to Bank

These days the E-wallet app also offers an additional option, where the user can send money back to his bank account when they don’t want to keep extra cash in the wallet. Furthermore, each app has set a monthly limit for using the wallet. If that amount exceeds the limit, you cannot do more transactions. For example, the monthly limitation for Paytm (a popular e-wallet app in India) is Rs 10k.

  • Making Bill Payments or Recharges

The E-wallet app facilitates you to pay your essential bills such as electricity, water tax, and phone bills in the most convenient way. Besides, you can also recharge your mobile phones or internet broadband connectivity using the same application.

  • Paying for Insurance

The application provides you with the facility to pay your insurance premium timely. Moreover, you can also pay your income and sales tax with the Help of an app.

  • Flight and Train Reservations

Recently, e-wallet apps like PayTm have introduced the facility to book flight, train, and bus reservations using the app. All you have to do is to input your travel details and follow the easy steps to pay.

  • Shopping for Grocery & Various Products

E-wallet apps are expanding user-oriented features. In this context, they offer online grocery shopping along with other categories of items, including accessories, apparel, household items, electronic appliances, mobile phones, and even cars and bikes.

  • Promotional and Discount Offers

As the competition level has risen, you need to offer promotions and discounts to lure more customers. These can be displayed as separate categories under cashback offer, items under 50% discount, etc.

  • Ratings and Reviews

Now, this is an important feature where you ask the user to rate your app’s service and write a review of whether the user is satisfied with the offers and deals. Based on the analysis, you can improve your services for the better.

  • Order History

The order history displays the details of all orders a customer has made using the E-wallet app, whether paying bills, booking movie tickets, or shopping for an item. In this case, the user has purchased an item. So the app also needs to show his order’s status and when it will be delivered. It is something e-commerce apps perform.

  • Selecting the Favored Language

You have to provide a range of different languages ​​so that the user can choose their mother tongue or native language and can easily enjoy using the app services and offers.

Developers should add language choices based on the region where their primary target audience is residing. For example, for Indian customers, you need to add all major regional languages ​​other than English and Hindi.

  • 24×7 Help

It is an essential feature keeping the user’s needs in mind. If your customers face any problem related to payment or any other service, then you need to offer help to your customers.

It would be commendable if you included a virtual chatbot service to better interact with your customers.

  • Refer a Friend

It is a promotional feature or tool where you ask or urge the user to spread the word for your application, for which they will be offered lucrative offers and attractive discounts on every transaction.

  • App Settings

Application settings also become vital, allowing the user to customize the app according to his needs. It will include profile settings, payment settings, security settings, etc.

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e-Wallet App Development Process

e-wallet app development process

E-wallet apps are convenient for users who want to store their payment information in one place. When creating an e-wallet, it’s essential to consider the five stages of the e-wallet app development process: planning, designing, building, testing, and launching.

Let’s explore these stages in detail:

Step-1: Discovery or Planning Stage

The first step is to find the target audience and choose a platform they’re likely to use. For example, if you know your customers will predominantly use iOS devices with 4G internet connections, an iPhone e-wallet app would be appropriate.

Next, develop a strategy that outlines how the user will move through different levels of the e-wallet process with guidance on where they should tap next and what happens when they tap on specific screens.

For example, when you tap to add a card, you’ll see three options (Apple Pay/Google Pay/Walmart MoneyCard) that take them to different screens with instructions on adding each card type. Developing a strategy will also help ensure consistency throughout the entire app experience as well as between pages.

In this stage, you must have definite answers to the following:

  • Who are you developing this app for?
  • It will be deployed on Android, iOs, or both the platforms, 
  • What metrics do you plan to track after launch? 
  • What are your top goals and objectives for this project?
  • How long do you anticipate development taking from start to finish?

Based on these answers, you will have a concrete draft of the e-design brief for the design phase of e-wallet app development.

Step-2: Designing Stage

Designing includes selecting colors, fonts, navigation elements, and other layout choices. Then you can begin wireframing the UI design by creating rough sketches of every screen and sketching interactions between screens which will map out potential problems before building code later in the process.

Ensure that the designing team of the application knows all the functionalities of the e-wallet app development cost. They will work closely with mobile developers, content developers, graphic designers, UX specialists, and QA analysts to ensure everything works as planned.

Step-3: Building or Coding the Application

It is a crucial stage in which functionalities laid out earlier is finally implemented. The developer’s team will provide you with a final prototype and specifications document from your design team, and that’s when you’ll begin building out each screen of your e-wallet app development cost.

The app development companies must provide you with a timeline detailing how long each part of the process will take. These timelines can vary depending on several factors, including the number of resources available, the complexity of the e-wallet app development cost, and time constraints.

The time frame should detail whether each stage is estimated to last one week, two weeks, or one month. All deadlines should be specified and discussed at length before agreeing to anything because missing deadlines often leads to increased costs and significant delays in release date.

Step-4: Testing the Developed Application

The quality assurance team works in close coordination with developers and designers to ensure that each step in the e-wallet app development cost is reviewed at every stage. It is a crucial part of the e-wallet app development process as it ensures that all functionalities work as per requirement.

The standard testing process involved in the stage includes:

  • Unit Testing: This is a review of the app to verify that each unit of functionality performs as expected. Unit tests check the functionality of individual units such as classes, methods, and functions.
  • Functional Testing: This process aims to verify that the app functions as intended. System-level tests will determine how the app responds to regular scenarios and edge cases. They will run a battery of system-level tests like cross-browser compatibility, stress, and load tests.
  • User Acceptance Testing: The goal of UAT is to validate that the e-wallet app development cost is according to your needs and expectations. Typically done with beta testers, UAT consists of tasks designed to validate the app based on its business requirements, standards, or security policies.

Step-5: Launch Stage

The launching stage entails deploying the E-wallet app development cost for users to live access. Once the application is put to live, you will have a dashboard to track the app’s success. The dashboard will show you detailed information about how many people downloaded and installed the app, what actions they performed, and how much revenue was generated.

Read Also: Top 10 Mobile App Trends for 2022


With a drastic shift towards digital payment, the term cash-in-hand is becoming obsolete. E-wallet apps have revolutionized the financial and economic sectors.

In recent years, we all have seen how E-wallets app development has become significant in this information age and technology.

You can opt to hire app developers. They will help you build a reliable E-wallet mobile app to give your users a captivating experience and get the maximum benefits.

Frequently Asked Questions

Q1. What is the cost of developing an E-wallet Mobile App?

Ans. The cost of developing an E-wallet mobile app depends on many factors. The pricing model and other aspects control the pricing of the app. Developing an E-wallet Mobile app would range from around $25,000 to $50,000.

Q2. I want to create an E-wallet mobile app; how long will it take?

Ans. Many factors determine how long it takes to develop a mobile E-wallet app, such as application platform, app features, design, testing, and many more. You can contact an app development company and discuss your app in detail. 

Q3. Where can I hire a developer to make an E-wallet mobile app?

Ans. You can hire mobile app developers at PixelCrayons. The company has done almost 13800+ projects that reflect how experienced, skilled developers at PixelCrayons are.

Q4. What are the advantages of the E-wallet app?

Ans. There are many advantages that an E-wallet app offers:

  • Accessibility
  • Timely payments
  • Range of uses
  • Faster transfer of funds

Q5. What will be the future of E-wallet mobile apps?

Ans. Mobile wallets will gradually become more familiar with both customers and organizations. However, the market will likely change in several ways in the coming years.

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