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E-Wallet App Development Cost: A Complete Guide

E-Wallet App Development Cost: A Complete Guide

Cashless payment through any e-wallet app is the best and most effective way to make payments nowadays. With the transformation of technology, making cash payments for products, deliveries, shopping, dining, etc is now very old school.

The introduction of e-wallet app has swung the hammer on the way people make transactions using their devices. Moreover, it has encouraged contactless and borderless payments with an endless number of transactions and has been commendable for all businesses, merchants, and brands over these last few years.

The digital payment system has completely shifted the audience to go for e-wallets to make simple, fast, and secure transactions at once. On top of that, the shift in the digital market and the evolution of eCommerce have mostly paved the way for mobile wallet applications so widely in use. Let’s have a quick overview of e-wallet mobile apps, their benefits, and the developing process.

Learning About E-Wallet App

The term ‘E-wallet’ comes from an electronic wallet which means a digital wallet that can hold online funds. Electronic wallets function just like online making where users have to add some amount of money to the wallet first and only then they can start spending. These digital wallets help in conducting contactless, cashless, and borderless transactions in one go. On the other hand, they are connected directly to the bank accounts of the account holder using the wallet. This way all the transactions are easier, faster, and safer and thereby preferred more by the audience across the globe.

Major Benefits Of Using An E-Wallet

The digital wallet has transformed the payment system and encouraged seamless and effortless transactions in a blink of an eye. Let’s learn about its major contribution and benefits that have encouraged the worldwide use of mobile wallets.

Easy Payments Everywhere

Using mobile wallets, you can send or receive money anywhere in the world and at any time without breaking a sweat. You can use the e-wallet to pay for groceries, electricity bills, recharge mobiles, book cabs, shop anywhere, book gas cylinders, DTH recharge and so on.

Reduces Processing Time On Transactions

It cuts down the processing time to a few seconds as you are directly making payments by scanning the QR code or inputting the phone numbers of the payee. Therefore, it saves a lot of time and the process becomes more efficient and productive.

Compliance With All Security Protocols

Digital wallets follow every security protocol and guideline given by regulatory organizations. Thus, your financial information and data are extremely safe and secure with an added layer of encryption in the payments gateway and hence cannot be deciphered by anyone. Moreover, it uses biometric passwords and fingerprint locks to offer an extra layer of security.

Simplify Loyalty Programs & Easy Rewards

The loyalty programs help both the merchants and users to benefit from the transactions. It offers discounts, rewards, loyal points, shopping vouchers, cashback, complimentary meals, etc to reward the user of the e-wallet. Therefore, for multiple transactions using the e-wallet, the users will get rewarded and work as an incentive for them too.

Quick Refunds

If there is any situation where you need to cancel the payments or transactions or need a refund, a mobile wallet makes the process quite easy and simple. With a few clicks, users can claim their refunds and see the results.

Lower Transaction Cost

Using mobile wallets helps lower transaction costs exponentially compared to other payment systems or processes. Usually using a debit card or any other card, a transaction fee is included to cover the cost of processing the transaction. E-wallets reduce this fee by focusing on the smooth facilitation of funds.

Essential Features Of An e-Wallet Application

The features and functionalities of a mobile wallet application can be categorized into three parts or panels. One of them is the user panel (user preference features or features needed from a user’s perspective), the other is the administrator panel (admin features), and lastly the extra features of the mobile wallet. Each panel has its own set of features that benefits both users and the admin.

Features List Requirement From The Perspective Of A User

The list below states all the essential features from the perspective of the user of the mobile wallet.

  • General Registration Of User
  • Linking Bank Accounts to The Wallet
  • Adding Money Into The Wallet
  • Fund Transfer
  • Receive Money
  • Transferring Fund To The Bank
  • E-Bill Payment
  • Mobile Recharge
  • Electricity Payment
  • Booking Cylinder
  • Flight and Train Reservation
  • Grocery Shopping
  • E-wallet Passbook
  • Rating and Reviews
  • Payment History
  • Choosing A Language
  • Additional Settings
  • Help

Features List Requirement From The Perspective Of An Admin

The list of features is essential for the administrator to manage the functionality and performance of the mobile wallet application smoothly.

  • General Profile Management
  • Verification and Authorization
  • Intuitive & Effective Dashboard
  • Detailed and Real-Time Analytics
  • Deals & Discounts
  • Add and block Users
  • Customer Support
  • Help

General Features List Requirement In e-Wallet App

Below are some of the most essential and modern features of a mobile wallet that will help you to set your e-wallet apart from the others.

  • Multi-Factor Authentication with biometrics, fingerprint, etc
  • Inbuilt Loyalty Management Solution
  • Communication Engine
  • Card Issuance Linked To Wallet
  • Remittances, Bill Payments, Merchant Payments, and other financial services
  • Voucher Management
  • Inventory Management
  • Document Management
  • Multi-Currency Support
  • Currency Conversion
  • Multi-Country support
  • Multilingual Mobile App
  • NFC and QR Payments
  • Cross-Border Payment Options
  • Easy Live Chat/ Chatbot Integration
  • Customer Support
  • Geolocation
  • Push Notifications
  • One-Time Passwords
  • In-App Camera
  • Contact Sync

What is the actual cost of e-Wallet App Development?

The cost of developing an E-Wallet app in India can vary depending on various factors such as the complexity of the app, the features required, and the development company you choose. On average, the cost can range from around $10,000 to $50,000 or more.

However, it is important to keep in mind that a higher price tag does not always guarantee the best quality. It’s essential to do proper research and choose a reputable and experienced development team that can offer cost-effective solutions without compromising on quality.

Factors Contributing To The Development Cost Of A Mobile Wallet

Estimating the investment required for your mobile wallet is one of the primary tasks of all business owners looking forward to providing such services to their customers. But before that, you need to look out for what you want and how that can affect your expenditure. Some of the main reasons that may contribute to the cost incurred of an e-wallet development are the complexity of the app structure, features, functionalities, integrations, and the type of industry you want to focus on. Beyond all these factors many more factors have contributed to the cost.

The development cost of a mobile wallet depends on various factors as explained and stated below.

Technology Implementation

The development cost of a mobile wallet application is also dependent on the type of tools, technology, and techniques we use to build the application. The utilization of technology factors into cost, but at the same time it has its advantages and disadvantages. The technological upgradation and change in trends are evolving the market. Experts and proficient app development companies can guide you further.

Platform Orientation

While developing any application, you foremost need to figure out which platform you are focusing on- Android, iOS, or macOS. Most of the applications generally work smoothly both on iOS and Android alike. You can design and develop your mobile wallet application focused on one platform or multiple platforms at the same time- the choice is yours. If you are focusing on only one platform, the development cost for iOS is comparatively lower than that of Android.

Initial Design & Framework

The design and framework of the mobile wallet applications set the cost of the development project. It majorly contributes as it focuses on the user interface (UI) design elements and user experience (UX). Both the UI/UX design elements are crucial as it makes the user journey seamless. The UI/UX design elements make the e-wallet app more user-friendly, engaging, and intuitive as well as make the navigation simple with its graphics. You need to think about what the design elements will be and how much you are willing to spend.

Feature Requirement

The features that you want to have in the mobile wallet application will majorly contribute to the development cost of the e-wallet. If you want simple features of a basic mobile wallet application, then the cost of development will be comparatively low. Whereas, if you want a unique mobile wallet application with rich features and advanced functionality, then your development cost will increase.

Industry Focus

The choice of an industry you want to focus on while developing your e-wallet application majorly synchronizes with the development cost. If you are focusing on the shopping industry, you will need simple, easy yet engaging features, and thereby the development cost will be low too. On the other hand, if you are focusing on the booking of taxis and cabs, reservation of trains and flights, where you need multiple payment gateways, multi-lingual support, and real-time integration, the cost of developing an e-wallet app will increase. Just like that, if you focus on a food delivery chain, payments are much simpler and easier with basic features, so the development cost is less.

Team Structure

The type of team you are selecting for your mobile wallet app development project will highly determine the cost you incur. If you are hiring freelancers, your cost will be much lower but the downside will be they lack industry experience. On the other hand, if you are hiring an mobile app development agency like Esolz Technologies Pvt Ltd, their technical expertise and experience in the industry will nourish your development process but the cost will be high and can finish the project on a deadline too.

You can also put together your in-house team of developers, designers, app makers, testers, business analytics, quality analytics, coders, etc for your mobile wallet app development. Everyone will charge by the hour and can take days to complete the project. Though each one of them has its specific area of expertise, the cost incurred is very high compared to the others.


The extensive experience of a mobile wallet will help you to offer cashless, easy and simple payment solutions to your audience. E-wallet eliminates all the hindrances of a manual process, reduces transaction costs, and processing charges, as well as, amplifies faster real-time transactions across borders. So, connect with the best mobile app development company if you are looking to develop an e-wallet app.