Cost and Features Involved to Build E-Wallet App Like Google Pay

Look around yourself, we are living in a digital world. Of course, not the one that you see in futuristic sci-fi movies but we are almost there. Aren’t we? From entertainment and news to games and travel, everything is just a few clicks away on your phone. Thanks to some smart brains and inspiring ideas, we are blessed with some amazing mobile applications that have made our lives convenient. One such gift is mobile wallets that have revolutionized the way we transfer money. As we are moving toward digitization, people are motivated to go cashless and avoid the risk to carry cash everywhere. They prefer using e-payment solutions that are more safe, secure, and quicker.

We are sure that many of you are planning to launch your e-wallet app. But before you approach any mobile app developer, we thought to give you an insight into what these platforms are. Hence, here is a blog that will guide you through their features, technologies, and costs involved. Take a read:

What Is the Concept of a Virtual Wallet?

We all have been hearing about mobile wallets for the past few years and many of us are using it as well to make the payments. In simple terms, it is a financial instrument to keep an amount of money in a digital wallet and can be used for transactions via mobile. It stores all the online payment details online and keeps a track of monetary transactions. However, it is a concept that goes beyond this basic definition. Let’s understand how e-wallet platforms were introduced and how they made our lives easier.

Even before the online wallets came into existence, we were all making digital payments through various modes, such as cards, online banking, etc. Of course, this digitalization proved to be extremely convenient for us as we could send and receive money without investing much time and energy. This also saved us from the risk of carrying the huge sum anywhere or physically present during the transaction process. As technology evolved and companies ventured into new markets, some people came up with e-wallet apps that are accessible via smartphones. Unlike other online payment modes, this was comparatively simple and easy to understand for even technotards. The virtual wallets effectively helped people who were not tech-savvy and enabled them to navigate the platform without any complex process. Yes, there are various advanced features and functionalities that add value to portals like PayPal and Google Pay but they are also user-friendly with an easy interface. Hence, gaining appreciation and acknowledgment from the people across the world.

The most critical part of e-wallet app development is to build a secure and safe environment for transactions. With the increasing number of mobile wallet apps, the cases of cyber theft and privacy infringement have also skyrocketed in the past few years. Therefore, any loophole in the mobile app development process can lead to heavy losses. Be it the app or web version of your eWallet app, perform quality assurance throughout the development lifecycle to ensure bugfree and secure end product. Check out some top mobile and website testing tools for the best results.

The Need to Introduce a Mobile Wallet App

We hardly need to emphasize the number of people using smartphones. If we calculate worldwide, then there are about billions of people who use mobile devices to accomplish most of their tasks. Out of them, 2-3 billion people access their bank accounts via phone apps which is a positive sign for you to venture into this sector. There is enough scope for you and other entrepreneurs to step into the mobile wallet industry and share huge profits annually. What’s more? Even the banks and financial institutions will be more than happy to enhance their customer base through these e-wallet platforms. There is a huge demand for on-demand app development in the market.

There is no denying the fact that mobile applications are easier to use than net banking. We can see more and more users inclined toward mobile banking as they are smarter, faster, and simpler. However, with competition getting fierce, you have to think of a new and unique idea that can stand out from already existing options. Also, the people using these smart apps belong to almost all age groups and the market is expected to boom in the coming years. Thus, we can be certain that this is the right time for you to invest in a mobile app wallet.

Solutions Used for the Development of E-Wallet Apps

Developing an online mobile app is not a cakewalk. There is a stringent process that the company follows meticulously and any small error can result in a disaster. Virtual apps are no exception to it. In fact, developers have to be more careful and attentive while providing this mobile app development solution, considering the risk and loss it involves. There are many advanced and basic features included in these portals to ensure the highest level of security and safety. Before we get familiar with all the features of the user and admin panel, let’s understand the solutions that play a key role in the development of an e-wallet application. Here we go:


When it comes to sharing information or transferring funds, NFC or Near Field Communication is the best technology hands down. Just tap your phone with other devices and you can make the hassle-free payments using this effective communication channel. No wonder why almost every leading mobile wallet app is using NFC solutions to offer contactless payment to users.

QR Codes

Whether you have to use the app to make payment to the people you often meet or to someone whose contact is not saved in your phone, QR code is the perfect solution. You simply have to scan the QR code of the other person or party, be it a restaurant, shopping store, etc., using your smartphone and done, the amount is transferred smoothly in no time.


The blockchain solution is an evolving tr used by most e-wallet applications due to its highly secure and immutable features. Blockchain apps are mostly used by either government organizations or financial institutions as they mostly deal with the transfer of huge amounts.

Bluetooth and iBeacon

iBeacon is a new concept for many but one of the most effective technologies of recent times. It is a Bluetooth Low Energy(BLE) that was introduced by Apple a few years back as an innovative way to offer location-based service to users. It utilizes small transmitter devices for sending signals to other Apple devices within the range. Thanks to the fast and secured payment procedure, it has been embraced by a huge audience for making transactions.

What Are the Features of Mobile Wallet Apps?

To make any mobile app work, there are many features and components that work together. The same is true for virtual wallet apps like Google Pay. There are many elements that work on the user and admin panel to make online transactions possible, keeping the security intact. Here is a list of features to help you understand how e-wallet applications work:

  • Ticket Booking
  • Sending Money Back to Bank
  • Offer Notifications
  • Multi-Language Support
  • Invite Friends or Referrals
  • Transaction History
  • User Registration
  • Authorize Bank Account
  • Add Money
  • Money Transfer
  • Accept Payments
  • Bill Payments
  • Balance Check

User Panel

User Registration:  Like any other shopping or messaging mobile app, the first step on Google Pay is also registration. It is important to follow a carefully designed registration process to make the portal secure. Therefore, users have to mention all the required information, such as name, a mobile number that is linked with the bank account, email id, etc. Once the person will enter the verification code, the account will get registered.

Authorize Bank Account:  The next step is to link the bank account with the app by mentioning its name. It is essential to register with a particular bank account to make future transactions. It will be configured with an SMS to ensure safety.

Add Money:  We need not say that users have to add a particular balance in their app wallet to process payments. This can be done using a credit card, debit card, or net banking.

Money Transfer:  Now that users have balance in their account, they can use it to transfer money for any purchase they made. They simply have to add the mobile number of the recipient or scan the QR code or they can use Beacon or NFC technology according to their convenience.

Accept Payments:  Just like making payments, app users can accept money from anyone by sharing the mobile number, QR code, or account details.

Bill Payments:  Apart from fund transfer, mobile wallets are also used for clearing the phone, electricity, or credit card bills before the deadlines. They can also recharge their mobile or DTH without visiting any physical store.

Balance Check:  Whenever users want, they can check the available balance on their e-wallet app with just a few clicks on the phone.

Ticket Booking:  Get your tickets booked instantly without waiting in a long queue. You can book your air, train, or movie tickets while sitting anytime, anywhere without any hassle.

Sending Money Back to Bank:  This is another feature that allows users to send money to bank accounts. They need to mention account details of the receiver and press enter, the amount will be transferred in a few minutes. However, there is a restriction on monthly transactions, beyond this amount they cannot send the money to the account.

Offer Notifications:  To stay ahead of the competition and attract more users, you will have to come up with exciting offers for your audience. So, ask your android app company to add this feature through which you can notify people about the latest offers and deals.

Multi-Language Support:  If you want to reach the maximum number of people across the globe, it is important that you offer a multilingual feature where people can choose the language they prefer.

Invite Friends or Referrals:  Ask users to refer the app to their friends and in return, they can earn bonus points, gifts, and vouchers. This feature will also help you promote your app effortlessly.

Transaction History:  To keep track of all the transactions, an e-wallet passbook can come in handy where users can take a look at all the past transfers.

Other than these, here is a list of features that you may come across while using the application.

Admin Panel

Interactive Dashboard

Manage the Users

Manage Transaction Limits

Real-time Analytics

Block Users

Revenue Management

Advanced Features

QR Code Reader

Data Synchronization

In-App Camera


Cloud Architecture

Virtual Cards

Wearable Integration

Technology Stack for E-Wallet

Nexmo                              SMS, Voice and Phone Verification

Datastax                                      Data Management

Database                                    MongoDB, HBase, Cassandra, Postgres, MailChimp Integration

Payment                                     E-wallet, Stripe, PayUMoney, E-banking

Front end                                   Angular, JavaScript, JQuery, CSS, HTML5

Mandrill                                       Everything related to emails

Cloud Environment                AWS, Google Cloud, Azure, Salesforce

Real-Time Analytics                Spark, Big Data, Hadoop, IBM, Apache,

GWT                                             Powerful Programming

ZBar bar code reader             Scanning the QR code

What Is the Cost to Build a Mobile Wallet App?

To introduce your own e-wallet app like Google Pay or PayPal, you have to spend a minimum of $150 per hour to hire a skilled developer. With basic features and functionalities, it would cost you around $30,000 to $45,000 but if you opt for advanced features, then get ready to shell out $100,000 to $150,000 for the app that can compare with the existing popular ones.

However, the amount can vary depending on the various factors like country and technical environment. Whether you are seeking iOS app development service or Android or Hybrid also affects the overall cost. The technology used, the team involved, time period, complexities, etc., are considered before quoting the final amount.

Let’s Begin

E-wallet apps have completely transformed the way funds are transferred and payments are processed. From booking tickets to paying bills to making payments, everything has wrapped up in your smartphone. Considering the popularity and revenue these platforms are generating, this is the right time to try your hands in the field. Make sure that you introduce an app that provides the users with simple solutions rather than making the payments more complicated. The virtual wallet app should appeal to every person and that is where A3logics can help you. Our skilled developers will make sure that you get the app that is user-friendly and reliable while keeping your budget and specifications in mind. So, contact us and get all the information you need.