Mar 23, 2021 Admin

Mobile App Development

Features & Cost Of E-wallet App like Cash App

Indeed, the idea of digital payments are governing every sector and COVID-19 has also impacted it on the wider level. Nowadays, people are indulging themselves in technology and making every use of it, no matter whether you want to book concert tickets or paying at the gas station. As we can see the world is moving towards the zero-cash method and people are already receiving and sending money through digital payment services.  

COVID 19 impacted greatly on the digital wallet as people are maintaining distance due to the fear of infection, and instead of hard cash, they are preferring to transfer money through various mobile wallet apps. The need for check books and ATM cash withdrawals gets minimized in front of e-Wallets. 

Due to increasing the inflated demand for this digital payment gateway, many business owners are now heading towards the e-Wallet app development to create apps like cash app, Phonepe, Amazon Pay, and so on. These apps are not only secure but also prevent you from standing in the queue for depositing or transferring the money to your bank account or someone else’s. 

Many people are fascinated to adopt the concept of eWallet development to create their own robust financial solutions. According to the industry trends, the eWallet market will be expected to be USD 154.1 billion by 2021 at 14.2% CAGR. That’s huge! Therefore many businesses, corporations, and firms are introducing their own set of eWallet apps to solve the financial issues in the market. 

It is evident that within upcoming years, digital payment will rise and dominate the upcoming decades with fully-fledged technologies. If you are someone who is looking to have your own mobile wallet app but don’t know how and where to start don’t worry you are at the right place! 

So to keep up with the pace, we will share the complete guide on eWallet app development so that you can too own an application like Cash App. Hence. Instead of jumping towards the cost and features, first, understand exactly what mobile eWallets are. 

What Are Mobile Wallet Apps?

As we know our ordinary wallet is decked up with cards and cash but mobile wallets are the virtual method through which your payment information gets stored. Users can pay money by scanning the QR code or simply by putting the associated mobile number of the payee. 

In the next method, money gets deducted from the and gets directly deposited to the payee bank account. 

This is the best method for transferring and receiving money as you don’t have to wait in the long bank queue. eWallet has simplified the payment process and also solved the method to add a payee and waiting for hours for the bank servers to respond. In the current scenario, payment transactions are easy, fast, and secure and no one has to worry about the time taken to transfer the money. 

To the crux of the matter, various business owners are now ready to invest their capital to build an app like Amazon Pay to solve the financial issues because people can’t carry their wallets everywhere but without smartphones, they can’t step out from their place. Apart from this, many outlets, stores, and showrooms are accepting online payment instead of taking hard cash. Many hybrid mobile app development is there to assist business owners with building robust eWallets.

Benefits of Using e-Wallet Apps

eWallets mobile applications are expanding like wildfire and every other business owner is looking forward to having their own digital wallet apps for the market. However, there are various people who are willing to understand the benefits of these digital payments. Hence, we have jotted down the top benefits that you can avail yourself of from these apps. 

1. Digital Wallets Are Time Savings 

Streamlining the shopping experience is easy with the digital wallets, whether you want to check out and want to book flight tickets for your next trip everything is aligned accordingly. The right e-wallet app will help you in checking out without any discrepancies. The chip-card transaction may take up to 10 seconds whereas e-wallet apps require 2 seconds for payment procession.

If we talk about the transaction speed, within a blink of an eye your payment gets processed! Through this, you can save a lot of time and can also save yourself from standing in a long queue.  

2. They Offer Extended Functionality 

These mobile wallets are encrypted and offer complete security from online threats and bugs. Apart from this, users have accepted that they have received and transferred in different currencies and can also fund e-wallets at any time and anywhere. There are various e-Wallet mobile apps functionalities that help users to understand the payment transaction in an easy way, no matter whether you are using a mobile wallet for the first time. 

3. Digital Wallets Helps You with Rewards

There are many people who are using digital wallets who get the reward in every payment transaction. Not only reward, but various e-Wallets also offer discounts, coupons, and even cash back to attract new users. In addition to this, you can also link digital wallet perks with debit card points for further purchasing. Not only this, but you can use these points while online shopping and can get a discount on your next purchase. Isn’t it great? 

4. e-Wallets Can Manage Multiple Cards Efficiently

Don’t you think this is frustrating when you are standing in the queue and your debit card has no balance? After that, you take another card, and again it shows no balance? Okay, Wait! This is such an exhausting instance when you are standing in the payment line and taking out multiple cards for payment and at the same time, you find out you forgot the card pin and others don’t have sufficient funds. 

Here, mobile wallets can be the savior. How? These wallets help you to set up various cards in one place and make your transaction easier without failing. This is a convenient method to sort out financial goals.

5. They Help In Tracking Your Expenditure 

Do you know how much you spent on your last weekend trip? Are you aware of the transaction you had at the gas station? Wait, do you know how much your last month’s transaction was? Okay hold on, the right e-wallet app can help you in tracking your expenditure in one place without missing on single details. You can also break down the expense category according to the date, time, and record. 

What Are The Types Of eWallet Applications?

As we have reached this point, it is also important to understand what types of transactions are there that could be done through eWallets applications. Mainly there are three types of e-wallet applications that can be customized with the help of the best mobile application services

Open e-Wallet

Open e-Wallets are the commonly used applications and can be installed on mobile devices. They are easy to use and help users with the end number of transactions, commonly PayPal, and Apple Pay is the example of open e-wallets. Apart from this, users can also send money directly to other user’s accounts from anywhere in the world. 

Semi-Closed e-Wallet

As said, an open e-wallet can be used anywhere and at any time but semi-closed digital wallets come with restrictions.  Users can make monetary transactions only in certain outlets and stores. This sort of transaction requires listed merchants and they need to sign the agreements or contracts with the e-wallet company before accepting the payment. Hence, this is called a half-closed or semi-closed e- wallet. 

Closed e-Wallet

Whenever you visit Walmart you made a payment through a mobile wallet and you can’t use that specific app somewhere else, right? In layman’s language, a company has developed their own wallet for their users, just as Walmart. They are a closed e-wallet and are exclusively for their customers who are using the company’s product. 

The cancellations, refunds, and return payments are stored in the wallet. Walmart is operating from several deceased and the methodology of e-wallets payment system was integrated a few years later. The closed e-wallet allows users to make transactions only for a particular app and it can’t be used to make other online purchases. 

What Are The Features Of e-Wallet Apps?

As you have reached here, business owners are still confused about the features that e-Wallet apps can have. How my e-Wallet apps can help our customers? What should be the features?- said Billy, founder of zealitham.

Well, we have jotted down the important features that your e-Wallet app should have, however, we have differentiated them into general and advanced categories for better understanding.

General Features Of Mobile Wallet App  

Below is the list of user panel features that an e-Wallet app has:

  • User Registration via email, contact number, or social profile 
  • Option to add/authorize bank account 
  • A simple method to add the amount 
  • Users can easily check account balance 
  • Pay Bills or set autopay feature
  • An easy money transfer
  • Budget management tool/ Dashboard
  • Split billing option
  • Clear option to view transaction history according to the preference 
  • POS integration 
  • Send and accept payment requests
  • Send invites and get referral points

Below is the list of merchant panel features:

  • Easy login to an interactive app dashboard 
  • Clutter-free method to add/manage products 
  • Generating QR code
  • The better way to manage customers 
  • Adding promotional offers & discounts 
  • Offering loyalty rewards and referral points 
  • Extensive option to manage staff & employees 
  • Easy Dashboard to manage EMI payment options 
  • Push notifications

Below is the list of admin panel features:

  • Secure page login to a robust dashboard 
  • Easy way to manage users and merchants
  • Providing real-time analytics 
  • Adding new promotional offers 
  • Managing complete user security protocols 
  • Sleek revenue management 
  • Controlling users data 
  • Better reporting & auditing

Advance Features To Look In E-Wallet Apps: 

QR Code Readers

QR Readers is the best feature to allow users in contactless payments by scanning through the seller’s camera with a QR code. After this, payment gets directly transferred to the payee’s account. This is the best way to make transactions directly to the bank account. 

Push Notification

Push notifications are an important part in every business as it helps in user retention and engagements. Through this, app owners get all the notifications of transactions that are made by the users. Push notifications are a call to action and help with better conversions. The e-wallet push notifications help users to understand the details of their account along with the transaction they are doing with the mobile wallet app. 

Online Bills and Recharges

Don’t you think the e-wallet app must have a feature to pay online bills and a recharge option? Indeed, everyone is looking for a one-stop solution where they can pay bills and transfer the amount to the payee account within a single tap. No one has much time to visit the electricity office to pay the bill, instead, people are looking for a quick solution where they can open the app and can make transactions within the blink of an eye. 


Remember customers are a king? Indeed, that’s why you need to resolve your customer’s queries by helping them with the exact solution to their problem. Business owners can add a chatbot feature for their customers if they get stuck at any step in the app. There are so many firms that claim to help you with perfect customer service solutions but it is not always possible to try out every other, hence the best hybrid app development company can help you in the process.

Some other important advanced features to count in the e-Wallet apps are, loyalty program, promotional features, CRM system, wearable, and e-commerce integration along with personal expense management tools. 

Read More- 50+ Innovative Mobile App Ideas for Businesses to Execute in 2021

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

The cost of developing an e-wallet app totally depends on certain factors such as the geographical location, what number of features you want to include in the app, the complexity of app design also determines the cost factor. Apart from this, the assigned team or agency who would build your app also estimated the cost of development. However, if we talk about the basic e-wallet development it will cost you around $20,000 to $50,000 but if you are looking for advanced app development just like Alipay and Paypal, it will cost between $100,000 to$150,000.

In addition to this, if you want to know the cost of the e-wallet app on the Android platform, it will range between $20,000 to $45,000 and on the other hand, the same app on the iOS platform will be $25,000 to $55,000. However, if you are looking for an e-wallet website, it will cost you between $25,000 to $50,000.

Final Words

Developing an e-wallet app is easy now before, all you need is a trusted partner with complete detailed information regarding how and where to start the process. Before initiating the process, we would recommend you to sit down and ponder down all the features that you want in your own e-wallet app. Getting in touch with the skilled team can help you in fulfilling your dream project. 

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