All thanks to evolving technology and some masterminds who make the utmost use of it, we were introduced to something known as Mobile Wallet Applications or an eWallet app. Since, demonetization has hit India, having tender or exact change had been difficult. Not only businesses had been affected, but also it has affected our everyday lives. eWallet Application or mobile wallet App has helped a lot in this situation.
In layman language, apps like Paytm, Paypal, etc are the eWallet or Mobile wallet apps. In addition, PayU Money, PhonePe, Google Pay, and several others are also in the league of mobile wallet apps. They made monetary transactions uninterrupted and our lives simpler. Especially Paytm in India used some brilliant marketing ideas and made the most of demonetization.

Mobile Applications Source: passworks.io
If you are highly impressed with these mobile wallet apps and are planning to develop one, we must say it is a great idea. Now that we’re talking about developing a mobile wallet app, let us run you through its fundamentals – the features and commercials.
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We understand that you’re curious to know about the costing. However, let’s not miss out on the features. To simplify it, we have divided the features of a mobile eWallet app into 4 sub-features.
Features of Mobile Wallet Application (eWallet App)
1. The Solutions:

Mobile Wallet App Source: Urban Airship
NFC
Near Field Communication (NFC) is one of the best technologies. You can use this for sharing the information and transferring the funds with a really convenient way. Nowadays, most of the wallets are using the NFC communication channels for making the payments hassle-free.
Bluetooth and iBeacon
It also identifies your nearby friends for making payments. The Bluetooth and the iBeacon technologies help to make the payment transfers very secured and fast. Hence, toady’s user community very much embrace these evolving technologies.
QR Codes

The QR code in an eWallet Source: 9to5Mac
People use these types of eWallet Mobile apps for making payments to the people they frequently meet. Users also pay the ones who are part of their workplace or social community. Such type of mobile app just requires scanning the QR code of the other user’s smartphone, with whom you want to make transactions. You can do it in a really smooth and simplified way.
Blockchain Applications
An eWallet Mobile App powered by the blockchain is one of the evolving trends for making payments. Reason being it is highly secured and immutable. Governmental organizations and financial institutions generally, use these mobile apps as they have to transfer a huge amount.
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Payment App
Such eWallet Mobile Solutions suits best with the business requirements. Simply one business can partner with the other business and the local merchants and can transfer the cash effectively. With the help of personalized mobile apps, transferring huge amounts becomes extremely guarded. It also ensures no third party involvement while making the payments.
2. User Panel:

User panel in an eWallet App Source: Appinventiv
Registration of the users
This is the major section of an app; the user can sign-in with the social network or email account credentials.
Authorize bank account
Users can select the bank details from which they want to make the transactions. They can register a particular bank account and can pay with it at any instant.
Add balance
The users can add a certain amount of balance in their account according to the need.
Check balance status
Once all the transactions made, the users can view their account balance and can check all the incoming and outgoing cash flows.
Transfer cash

Paytm Payment Transactions Source: blog.paytm.com
The users can transfer the cash amount to the other concerned users by entering the account details. Thus allowing the transactions effective and convenient.
Pay bills
Users can pay the bills via their registered bank accounts so as to maintain the track of all the cash flows in a convenient way.
Accept payments
They can receive the payments as well. Users can accept the payments in a secured manner simply by sharing their corresponding account details.
See offers
Under this section, users can see the offers and redeem the points as well while making the transactions.
Transaction history
The eWallet app records and tracks all the transactions by the users. A user can search for all the transactions with the advance filters from the transaction history.
Invite friends
Users can invite their friends as well for sending and receiving the funds. This way it really gets easy for them to transfer the amount as and when required. This too, without asking for account details the very next day.
3. Admin Panel:

Admin Panel of a Mobile eWallet APP Source: Let’s Nurture
Dashboard
The admin can track and monitor all the users registered with the app, their profile and other basic information.
New offers
The admin manages all the new offers. He also governs and monitors offers related to the referrals, rewards, frequent transactions, etc, accordingly.
Manage the users
All the users that are associated with the app and making the transactions are tracked and monitored by the admin.
Manage the contacts

Source: The Verge
Admin manages several things. These include all the users associated with the app, transaction frequency, user retention, and acquisition techniques.
Analytics and reporting
The eWallet app generates important details such as the reports related to the number of users associated, types of offers most availed, number of transactions incurred, app usability, and bounce rates. Admin can accordingly validate all the reports and can outline certain solutions for augmenting the visibility of the eWallet Mobile App.
Add/block features
According to the user behavior and as per the count of rejected or unauthorized payments processes admin can block the users. In the same way, he can also add new user requests depending on the number of users already aligned with the app.
4. Advance Features:

Source: eManagement Systems
Geo-location
This is one of the great features of an eWallet Mobile App. Although, adding this feature will raise the cost of your app, but then adding it will significantly raise the visibility and popularity of an app. With the help of GPS, users can locate the nearby users and can make the payment by just tapping on the user name. This helps to save a lot of time as no account information is required to be filled and the user can accomplish all the transaction in a very simple way.
Data synchronization
Now while discussing the features of an eWallet Mobile App, the data synchronization is likely to play an important role. The app is synchronized with your registered social account network and mobile number so as to deliver high-level security and accuracy.
The bank account linked with the mobile number is displayed automatically. Hence, users need not fill the long bank account forms.
Booking calendar
So, with this feature users need not remember the date for making the transactions. They can simply highlight the date on the calendar. On a particular date, automatically the alert is sent to the users. This way the process of making transaction becomes very easy and keeps the users away from any payment related headaches. They can even share the calendar with their friends as well in order to make the entire payment ecosystem very effective.
In-app camera
The in-app camera comes as the great use in the QR code scanning. With the help of In-app camera, users can send the receipt of transactions to the other users. Users can confirm all the transactions within an app so as to validate all the fund transfer requests instantly.
Cloud operations

Source: Jennifer Hou | Product Designer
With the help of cloud operations, all the transactions can be stored in a safe and reliable form. The cloud operation helps in augmenting the quality standards of your app and enables the users in making the transaction in a very faster way. It helps to access the data in a more powerful way and captures high user attention.
Wearable integration
Definitely, this is the feature for which the users are nowadays looking for. They can integrate their app with the smart wearable devices and can monitor all the payments on the wrist. It adds greatly to the user convenience and at the same time defines a new approach and trend for making the payments with a really easy and simple approach.
Create virtual cards

Source: TechCrunch
Almost all you have a credit/debit card. But with the advancement in technology, the eWallet mobile app will allow the users to create a virtual card as well. This virtual card looks very similar to the credit or debit card and can be used within an app. Users are not required to enter the account details, just the username and password is sufficient for making the payments. This can be said as one of the best attributes of an eWallet Mobile App.
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Tokenization: This feature works great for improving the security of the transactions. It generates a one time code and hides the information pertaining to credit/debit card information from the merchant.
Push Notifications: Push technology helps in keeping the users attentive and engaged. They can be kept informed about the different rewards, points, other deals and alerts the users whenever a transaction is made or requested.
QR code: Simply scan the QR code of the users mobile and make the payments with a highly effective and convenient approach.
Digital Receipt: For all the accomplished transactions, a digital receipt is generated. The same can be shared via Phone, email text or within an app.
Categorization and portability:
Users can categorize the different transactions and card details as per their convenience. They can easily add money and can share it over both online/ offline modes.
Loyalty Program:
Offer rewards on every successful referral. Users get loyalty rewards and at the same time, it helps in increasing the app visibility.
Other Technologies

Source: GetApp
Bandwidth, Twilio – For Push Notifications
Nexmo – SMS, Voice and Phone Verification
Braintree & PayPal – For accepting payments
GWT – Powerful Programming
Datastax – For Data Management
Mandrill – everything related to emails
ZBar bar code reader- For scanning the QR code
Debian – The Universal Operating System
Database – MongoDB, HBase, Cassandra, Postgres, MailChimp Integration
Cloud Environment – AWS
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Real-Time Analytics – Hadoop, Spark, Big Data, Apache Flink, Cisco, IBM
Once you understand and figure out what all features you’d like to include in your mobile wallet app, it is time you figure out the costing of the same. It might vary depending on whom you choose to work with – an independent freelance web developer or an accomplished and niche tech company. Whoever you opt for, make sure they’re well experienced and highly trustworthy.

Source: Florida Politics
Moving ahead, most of the companies charge as per the man-hours they put in developing the app. In the regions like North America for instance, the price is around $150 per hour, in Europe it is $130 per hour, and in and the companies situated in Australia charges around $190 per hour.
Develop eWallet Applications in India
According to the statistics, India is the most affordable county for engineering the quality eWallet mobile apps at the price $25 -$80 per hour.
The cost of developing an eWallet Mobile app is around $25,000 to $50,000. However, apps with extensive features like Paytm can cost more and go up to $100,000 to $150,000.
Looking for a company who can help you with all of this? Get in touch with us and we shall discuss your ideas in detail.