HOW TO CREATE MONEY WALLET LIKE PAYTM?

HOW TO CREATE MONEY WALLET LIKE PAYTM?
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The world is digitized now and every mobile phone user has a money wallet app, whether its Paypal, Amazon, Gpay or Paytm. These are a few of the world’s popular named mobile money wallet apps. Most of the best mobile app development companies in India are also trying to develop such applications that could leverage the customer’s need in a secure and smooth way.

 These wallets are very beneficial to the users and provide a platform to transfer the money through the digital mediums. Paytm being the most popular application’s among the users provide services like recharge, payment of bills, instant money transfer to friends, vendors, etc along with access to eCommerce services on a single platform. 

WHAT ARE THE BENEFITS OF USING MONEY WALLET APPS LIKE PAYTM

  • A significant impact on the retail and e-commerce business industry.
  • No requirement to carry cash by customers
  • Users can recharge mobile and even send money to banks.
  • The transportation industries like OLA, Uber have also designed and developed their own money wallets through which customers can make secured payments.
  • Shopping Apps have their own wallets.
  • Online grocery, foods, movie tickets, etc could be availed by this method.

Beyond this, the mobile app development company in India is also focusing to create such features that facilitate the payment of electricity bill, gas, water, hotels, toll, metro, loan payment, and many other services. The mobile wallet benefits ensure to cover all industries that provide various services to customers. This stands as a firm reason for businesses to have their own money wallet app.

KEY FEATURES OF MOBILE APP DEVELOPMENT FOR MONEY WALLET

Features of User Panel

  • User registration: This will help you get access to the important information of the customer like name, address, phone number, etc.
  • Ease of Use: Do not complicate the application for the users 
  • User Interface: Try to create an attractive user interface for customers to visit your page.
  • Add and Transfer: Through this function, users can add money to their wallets via debit or credit cards. Try to give access to users to transfer the money only through a scanner QR or registered mobile number option.
  • Data Integration: Try to make the data retrieval process for users to be a bit easier. You can add some other features like bill payment, push notification, multi-language, invite friends and transaction history. 

Features of Admin Panel

  • Interactive dashboard and Manager Account: This feature helps admin to manage the transaction, manage user account and their information.
  • Rewards and Bonus: Admin can add or block the user along with the feature to provide some rewards or bonus, track transaction history, number of transactions of a particular customer.
  • GPS Features: This helps to allow the user to track the order, expected date of delivery and also increases the popularity of the application.
  • In-app Camera: This is used to scan QR code for operation through which the user gets the receipt of his/her payment.  With the help of cloud operation, things get more secure and safe when it comes to password or any other important information of the user. 

HOW MUCH IT COSTS TO CREATE A MOBILE APP DEVELOPMENT MONEY WALLET?

App development services in India have different protocols and strategies to create an app. The best android app development company in India will help you design a feature for the money wallet at the most affordable price. 

Every owner must have spent life-saving money on the product to let it become what it is with time. 

The best app developers in India have solutions for all budgets but they also expect customers to understand the limitations on the deliverables according to the budget.  Nothing is impossible if you have the foresight to calculate the risk factor and take an effective approach for your business. Here is the list of elements that will help you estimate the cost of making the mobile money wallet like Paytm:-

  • Invest money in linking bank accounts
  • Choose the best mobile app development company in India 
  • Please take a thorough estimate of your budget 
  • Size, UI, and the technology you want to opt for the product
  • Whether you want Android or iOS
  • Features like GPS, QR code, Bar code, User Profile, Push notification
  • A safe and secured feature like OTP
  • Wi-fi or Bluetooth connectivity

Let us also not skip over the fact that any product that you want to create similar to a big brand needs investments in the right way or phase-wise. Many customers take Paytm as their reference but have a very limited budget. Our suggestion to them is to go with the best mobile app development company in Bhopal who can bifurcate their budget and level wise develop the product. Expecting to get a patent of the same product at the least price is not a wise thought because one should remember that any brand is not built in a day with peanuts. 

Also Read About:

1. HOW TO MAKE MONEY FROM YOUR MOBILE APP?

2. 5 METRICS TO INCREASE APP ENGAGEMENT

 


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