Types of E-Wallets and Their Issues and Challenges in 2021

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E-Wallet App Development Cost Features
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E-Wallet App Development Cost
The cost of developing a basic wallet app is
around 25,000 to 50,000, and apps with advanced
features such as online services and bill payment
integration (like Paytm and M-Pesa) will cost
approximately 75,000 to 100,000.
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E-Wallet Market Trends
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Features of E-Wallet App
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1. USSD Payments
While not every E-Wallet app would require this
feature of making payments, some E-Wallet apps
which are targeted to the markets like the Africa
region will require USSD payments options as well.
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2. QR Code Reader
Users can scan the QR code of the receiver to
make the transaction fast and easy. This QR code
payment technology is very convenient and is
commonly used amongst users.
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3. Virtual Cards
Users can easily create a virtual card like their
usual credit/debit card. These virtual cards
allow users to carry out transactions easily
without entering the details every time.
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4. In-App Camera
This built-in feature will allow users to scan
the QR code easily. Also, users can upload their
KYC documents and selfie using the in-app camera.
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5. Digital Receipts
Generating digital receipts of all the
transactions and allowing users to share these
receipts with an app, by email, or SMS.
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6. Push Notifications
This helps in keeping more user engagement on
your app. They can be kept updated with new
features, discounts, and offers via SMS or emails.
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7. Integration With Wearable Devices
It will make the app more convenient to use, and
will define a new approach for making payments an
easy process.
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8. Financial Institutions Regulations
Before developing an E-Wallet App, you should
have some knowledge of banking rules and
regulations in relation to online transactions.
Since you are developing an E-Wallet app, you
will be considered as being a type of financial
institution.
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Conclusion

• If you have already decided to hire an expert
  E-Wallet App Development Company, then get in
  touch with us as we are the globally recognized
  number one company  Outsourcing Software
  Development for E-Wallet App Development
• Also Read How to find the Right Mobile App
  Development Company?
• How to Create a Wallet App for Android and iOS?

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