eWallet App Development in 2025: Costs, Key Features, and Roadmap to Success

We all have witnessed the incredible transformation brought by the latest technological advancements in every business vertical. And the area that has experienced the maximum reshaping is "money transferring". The traditional payment methods are replaced by the latest ones, like money transfer wallets.

The e-wallet app makes it possible to execute the transactions in seconds using smart devices. This post will discuss the e-wallet app, its types, and its role in various business domains. Also, if you are thinking of launching your own e-wallet software, you don't need to go anywhere else to know about the app features and the overall development cost. Let's jump to each topic step by step:

What is an E-wallet Software?

We all need a safe and secure place to store our money in the physical world like wallets, banks, cases, etc. Similarly, we need e-wallet software to do online transactions and store money. E-wallets are used the same as online banking works. There is a need to add money to an e-wallet before using it. The fund transfer from digital wallets is possible by scanning QR codes or entering the seller's mobile number.

With E-wallets, the transaction process became easy and less time-consuming. That's why more and more people are inclined to use e-wallets, as it saves their time and helps them become more productive. For creating an e-wallet account, the user needs to enter his banking details. However, there is nothing to worry about as these payment gateways are fully secure and transparent with both parties. The information is saved in encrypted form so that nobody can read it. Also, you can secure your wallet by setting a passcode for your wallet on your device.

Types of eWallet Apps: Unique Features That Set Them Apart

E-wallet applications come with different features depending on the needs of the users and the business owner. Based on those features, there are different types of e-wallet applications. Every feature of an application brings some advantage to the users. Depending on the types, web3 wallet application development cost also varies. So, it completely depends on the budget and needs of the clients. Here we have outlined the different categories of the digital wallet app:

Closed e-Wallets

Sellers or companies offering services /products can develop a closed wallet app for their customers. The area of usage of the closed wallets is strongly restricted; only the issuer of the app can get funds from the users through transactions made in exchange for the services or products bought. Users can get cash back, rewards and loyalty points, etc.

Semi-Closed e-Wallets

Users are more influenced by the semi-closed e-wallet applications than closed e-wallets. Semi-closed wallet apps allow users to pay bills at shops that have signed agreements with e-wallet companies. The wallets are available at certain shops or outlets but not everywhere. That's why they are known as semi or half-closed e-wallet applications. Examples are PayU and Mobiwik. Users can store their money in their wallets but cannot withdraw cash.

Open e-Wallets

The most common type of e-wallet application is open wallets for android and iOS platforms. Open wallet applications are easy to navigate and easily process a larger number of transactions. The open wallet allows the users to withdraw money through banks and ATMs. Institutes collaborating with the banks can issue open wallets. The most popular example is PayPal.

Which Business Domains Can Take Benefit from The E-Wallet App?

E-wallets are the need of the current time. There will be no better time than now to start your E-wallet application. It is suitable for several industries, but some specific fields are dependent on digital wallet applications.

E-commerce Industry

Smartphones play a vital role in everyone's life, as we do most transactions through mobile applications and net banking. And it is very common in the shopping industry. People prefer to pay using mobile wallets as it is a fast and transparent method without any effort. So, there is a wide scope of opportunities in launching your e-wallet application for e-commerce business.

Transportation Industry

Whether it is a ride-sharing business or flight booking system, an e-wallet is applicable in all verticals of the transportation industry. People don't need to compromise their comfort as they can make payments for booking flights or taxis using their phones. And the money transfer is possible with just a few clicks. Whether cars, trains, or other traveling means, integrating e-wallet apps can transform your business if you are in the transpiration business.

Food Delivery Industry

The food industry is an evergreen business that continues even in hard times, as we can understand from the time of the COVID 19 pandemic. The payments through e-wallets helped control the spreading of COVID as there is no physical touch involved while exchanging the money/services. Various food delivery apps like Zomato, Swiggy, etc., have collaborated with famous payment platforms for easy and quick payment.

Daily Essential Services

Mobile recharge, paying for electricity bills, water bills, medical bills, grocery bills, etc., comes under regular life tasks. All these are possible with the use of a digital wallet app. In short, we can conclude that every small to the bigger sector is connected to the e-wallet applications to keep life on track.  If you are in any of these businesses mentioned above, embark on launching your own e-wallet using reliable Crypto wallet development services.

Must-Have Features For Your E-wallet Application

Features For Users

Registration

The registration process should be simple and easy. Users can sign up using their mobile number or email id with a strong password. Nowadays, people can log in through their social media accounts.

Link Bank Account

Connecting the bank account is the primary necessity in the e-wallet app. By linking the bank account, users can transfer the money and make purchases.

Money Transfer

The money transfer option asks you to enter the details of the person or seller you want to transfer the money to or by scanning the QR.

Refer and Earn Opportunities

Most e-wallet applications use attractive strategies to gain the attention of the audience, like giving them gifts and discounts when referring to other people. You can generate the link to the application and share it with your friends and family to get the rewards or gifts.

Offers and Discounts

Users can get offers and discounts when purchasing several items using the e-wallet application. The more you use the application, the more you get offers and discounts.

Features for Admin

Simple Dashboard

The dashboard should be easy to use and understand. All the real-time information is displayed on the dashboard.

Merchant Management

The app admin can maintain and manage the existing merchants and add new ones. Admin has the responsibility to offer them better services.

User Management

The feature allows handling the users and their information on the e-wallet application. An efficient user management facility can make the whole management process easy and less time-consuming.

Features For Merchants

Dashboard

There is also a dashboard for the merchants to handle their customers.

Add Products

This feature enables the merchants to add new products for sale in their online wallets.

Money Withdraw/Add

Sending and receiving the money is possible for merchants also. They can secure their wallet dashboard using robust passwords.

Generate QR Codes

The merchants can create their own QR codes for customers to make the payments by scanning them.

Factors Contributing To digital Wallet Application Development Cost

The list is long when it comes to deciding factors for e-wallet app development costs. We have listed all the essential factors are listed below:

App Features

Features of an app have great importance in finalizing the development cost. If your app has basic and simple features, the cost doesn't usually go very high. But if you include advanced features, the cost will go up.

Platform Selection

Apps are designed mainly for two platforms, Android and iOS. You need to choose the platform for launching your wallet app. The cost of the android platform is less than that of the iOS application. Now, cross-platform app development is possible; you can pay according to the cross-platform app development.

Developers’ Location

The development cost varies depending on the geographical regions of the Cryptocurrency Wallet Development company. In regions like Asian countries, the development cost is lower than the other countries like America, Canada, Australia, etc. Therefore, choose the right location for your app development according to your budget.

Tech Stacks

The tools and tech stacks are crucial in making your idea into reality. All the features decided for the app and the attractive UI are possible with the tech stacks' right choice. Every tool/framework has its own pros/cons. You should decide on the tech stack with the assistance of experienced app development experts.

App Design

The simplicity and the ease of using an app depend on the app design. If a user cannot navigate the app and find what he looks for effortlessly, there is less chance that such an app can be successful. The UI/UX designer must use simple graphics that don't irritate the users while on the app.

App Size

The size of the e-wallet app influences the total cost. If the size is small with few screens, the cost is normal. However, if the app includes many app screens, the cost will rise accordingly. More features and more screens add to the cost!

Team Size

The number of people working on the app development decides the cost like testers, developers, designers, business analysts, project managers, etc. Team members put effort into crafting an e-wallet app with features you want and give their best to deliver the project on time. The number of team members working on app development and their expertise in the area will contribute to the e-wallet app development cost.

What is the Overall Wallet Software Development Cost?

Considering all the points mentioned above, the overall e-wallet development cost can be around $15000-$25000 for the android platform, whereas for the iOS platform, it can be around $18,000-$30,000. If you are interested in launching a cross-platform app, the cost will be $15,000 and $40,000.

Why Suffescom Solutions For E-wallet App Development?

Suffescom has experience in developing high-quality solutions, and e-wallet development is the main expertise of blockchain development solutions.

We Offer You:

• Customized Solutions
• Cost-effective Solutions
• 24*7 Technical Support
• On-time Delivery

FAQs

1. What is an e-wallet app, and how does it work?

An e-wallet app is a digital platform that allows users to store money, make online transactions, and pay for services using smartphones or other devices. Users link their bank accounts or add funds to the e-wallet, then transfer money by scanning QR codes or entering recipient details. The app ensures secure, encrypted transactions for safe payments.

2. What are the different types of e-wallet apps?

E-wallet apps are categorized into three types:

• Closed e-Wallets: Limited to specific merchants or services, e.g., company-specific wallets offering rewards or cashback.
• Semi-Closed e-Wallets: Usable at select partnered merchants but not for cash withdrawals, e.g., PayU, Mobiwik.
• Open e-Wallets: Fully flexible, allowing transactions, withdrawals, and payments across various platforms, e.g., PayPal.

3. What industries benefit most from e-wallet apps?

E-wallet apps are transformative for industries like:

• E-commerce: Enables fast, secure online payments.
• Transportation: Simplifies payments for ride-sharing or flight bookings.
• Food Delivery: Supports contactless payments for apps like Zomato or Swiggy.
• Daily Services: Facilitates bill payments for utilities, groceries, or mobile recharges.

4. What are the must-have features for an e-wallet app?

Key features include:

• For Users: Easy registration, bank account linking, money transfers, refer-and-earn programs, and discounts.
• For Admins: Simple dashboard, user and merchant management.
• For Merchants: Product management, QR code generation, and secure money withdrawal/addition.

5. How much does it cost to develop an e-wallet app?

The cost depends on factors like features, platform, design, and team size. Approximate costs:

• Android: $15,000–$25,000
• iOS: $18,000–$30,000
• Cross-Platform: $15,000–$40,000 Advanced features or complex designs may increase costs.

6. How can I ensure my e-wallet app is secure?

Security is critical for e-wallet apps. Use encryption for data storage, secure APIs, two-factor authentication, and robust passcodes. Partnering with an experienced blockchain app development company can enhance security through decentralized technologies and smart contracts.

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