Mobile transactions always give you the next level of competition for perfection. Consumers are getting more and more relied on the smart devices. Leading the race of smart devices, smart phones have made an impeccable space in the lives of people.


Not only the entertainment segment, but people are vigorously using the technology to buy and sell everything ranging from grocery to booking tickets for their weekend getaway.

What is a Mobile Wallet

A mobile wallet is a financial instrument that allows businesses and individuals to receive and send money via mobile devices. It is a type of e-commerce model that is developed with mobile devices owing to their convenience and easy access. A mobile wallet is also called mobile money or a mobile money transfer.

Why You Should Develop One?

Easy accessibility

Using a mobile wallet for day to day transactions is really simple to begin with. Downloading the app and creating a user ID and password is all you need to do here. It is as simple as logging in to your Gmail or Facebook account from your smartphone.

Simple to load money

You can add money to your wallet in easily via net banking, credit card or debit card. Being able to store these details saves you from the hassle of entering these details every time you make a transaction and saves time.

Range of uses

Starting from bill payments for DTH, postpaid, data card and broadband to buying air, bus or train tickets, you can use an e wallet for a variety of transactions. From paying at your local kirana stores to paying for your utilities like gas, water and electricity, the reach of mobile wallets has gone far and wide.

Split bill facility

Being able to split expenses with friends is another big advantage. Freecharge and Mobikwik users can split their bills simply by entering the amount and the number of people who are expected to pay their share. These wallets will automatically generate a link which you can send to people who owe you money.

Ensures timely payments

You can also make use of the auto pay facility to make future bill payments automatically, from your wallet balance on a predetermined date.

Incentives and Promotions

Each wallet comes with its own set of incentives. E-wallets give plenty of money saving avenues through discounts, cashbacks, offers and free gifts. You can benefit the maximum by going through their offer section and making optimum use of promo codes.

Quick transfer of funds

Money wallets have made sending and receiving money quick and easy. And on the top of that, currently there are no transaction charges levied for transferring money anywhere, anytime, thus making it a more preferable option.


According to a survey report, in the year 2016 32% consumers used the digital wallet as their preferred medium of payment, while 78% consumers said that they are aware of the service. Mobile applications like PayTM, RuPay, Bhim and Jara have given a better ground to people.

Integrating mobile wallets for e-commerce apps had been for quite some time, however, money multi-utility mobile wallets have now become a need of era. The need now is to understand what exactly the users are looking for.

Understanding the user requirements

Before starting the e-payment app development process, it is important that you understand the user base and the digital payment app market. There are different kinds of mobile wallets, you need to understand which will fit your purpose.

The list of online payment methods primarily include:

Online payment

To enable customers to make digital payments to the merchant with the help of a payment gateway

Point of sale (PoS) payments

pos systems

A modern point of sale accepts everything from cash to mobile wallets as modes of payment

Peer-to-peer money transfer

Mobile wallets allows one user to send the money to another user of the mobile wallet using the mobile app

iBeacons and Bluetooth payment

Smart retail solution powered by BLE Beacon make shopping simpler for shoppers and easier on retailers

QR codes

A customer points his camera in the direction of the merchants QR code to complete the purchase order


Mobile Payments and Wearables

The growing number of wearables are adding features like contactless payments with wearable apps.

Out of the aforementioned three, Point of sale technological solutions are considered as a major concern, as it is comparatively difficult to build.

Payment gateway for your digital wallet app :


There are a number of payment gateways available to integrate in a mobile wallet to help a user load and send money to and from his wallet with the help of his credit or debit card. Stripe and Braintree are currently the most famous payment gateways in the market.


Key factors to keep in mind while developing mobile wallet app solutions

Here are some key factors that you need to keep in mind during mobile payment integration:

1. Function prioritizing

A mobile wallet application is basically a collection of different functions and features. You need to be careful while integrating these functions and features, as they’ll be eventually making your digital payment app successful.

Do a thorough market research, learn customer expectations, demands, and the market trend prevailing. According to these, prioritize the functions in your mobile wallet application.

2. Security

Your digital wallet can only be successful if the customers can rely on its security structure. The e-wallets require customers to store their card information or enter their passwords.

It is your primary responsibility to ensure their data security by using advanced technology methods. In addition to standard safety and security mechanisms, you need to include technologies which are hard to decrypt.

3. Do not forget to include digital receipt

After every transaction performed by users, they need to have a confirmation about the success or failure of it. This is where the need for a digital receipt arises.

Irrespective of the amount they transacted, it is important that they receive a digital receipt of their transaction. These digital receipts can be sent through email to the respective customer’s registered email address.


4. Reward points are a bonus

People like getting rewards. If you are willing to make your digital payment app sustain for a longer time. If you are giving different leverages to your users, there’s no way that they’ll be abandoning your website in coming days.

However, you need to keep in mind that they can check their reward points whenever they want, and can redeem them in better ways. At this point, you’ll need to understand your target audience, their likes, and dislikes.

5. Keep them engaged

Share timely notifications with your customers regarding the new offers they have. Share customized coupons and deals with them to keep them engaged in your application.

It is often noticed that users abandon an application after its first use. Keeping them notified with latest offers and discounts can help you in keeping them engaged in your digital payment app.

6. Selecting development partner

A mobile app development companies can help you with e-payment app development in an efficient manner. They are well worse about the recent technology developments and trends and can assist you in building a better solution.

However, before finalizing a development partner, you need to thoroughly study their profile, and check if they have done similar projects in past. Learning these will help you come with a better digital payment solution.


Mobile wallets are no longer just a trend they have become a need of the time. However, to relish the benefits of this fast evolving market, you need to ensure flawless implementation of facts and features. Do the necessary market research to build a better mobile wallet solution.

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