The Endive Blog

Envision |Enhance |Empower

How To Make A Mobile Wallet Application

by admin

mobile wallet app development
27 May

In this era of technology, Mobile Wallet Application has turned into one of the fastest-growing digital products. The demand for mobile wallet apps is increasing rapidly. There are some popular e-wallet applications are available in the market such as PayPal, Amazon Pay, and Paytm, etc. These mobile wallets are very helpful to users and it eases the transaction of money. So people easily can pay their bills, recharge and even make an online payment for shopping by using mobile wallet applications. Now everywhere payment is being accepted by wallet apps whether it’s restaurants or movie theatre. To invest in Mobile Wallet App Development is really a great idea for startups, business or large enterprises.

What is a Mobile Wallet App?


Mobile wallet application allows to integrate and store multiple types of payment methods such as credit/debit cards or digital currency, alongside extra stuff like loyalty cards, coupons, etc. It is a financial instrument that permits businesses and individuals to transfer money via mobile wallet app. Mobile wallet is also known as a mobile money transfer. Mobile wallet applications are used everywhere like a retail shop, online shopping, and online bill payment, etc. These online payments can be made by using a registered mobile number or QR Codes. It is important to consider all the features while developing mobile wallet software.

Uses of Mobile Wallet Apps:

Users are using various payment modes to pay the payment online. There are various payment methods are available.

Online Commerce Payment

When people choose to pay online for products/services and they are given a receipt. Users mostly use this method where they pay by debit/credit card and net banking.

Mobile P2P money transfer

Some popular Mobile Payment App like Google Pay and Venmo offers users send and receive money by using Mobile. The maximum amount of money transfer reaches up to 1 billion US dollars. The best thing is that these mobile applications also provide money transfer from a bank account linked with a user to another user. Emulation technique is used in the NFC Protocol to store card details in a digital form in the mobile wallet.

Point of Sale (POS) Payments

POS payment occurring at the storefront. People are using mobile/contactless technologies to pay the amount.

There are various ways in which POS payment can be made:



NFC Stands for Near Field Communication is wireless technology. It offers secure, contactless money transfer between NFC-empowered smartphone and a transmitter which is attached to a POS device. One of the best things of NFC is that it recover user’s payment details automatically and transmits it by NFC to the payment terminal while the payment is being made. The biggest advantage of NFC Payment Apps is when the data is stored than people not need to connect to the internet.

Bluetooth and iBeacon

ibeacon technology

The iBeacon technology is another option to transfer data and the best thing is that does not require the internet connection. Smartphone connection with Bluetooth which can communicate with external BLE transmitter that is called beacon. iBeacon technology is compatible with the devices of both platform of mobile application and the range is up to 70 meters on average. This technology makes shopping easier for users.

QR Codes

The QR code is an alternate way for NFC. In this technology, users can point their smartphone camera through an application on QR code to scan to complete the purchase transaction.

Payment Apps

To pay through the payment application is to make payment easy. Mobile Payment Apps such as PayPal and Paytm are already supported in a number of stores, cafes, etc. Now Apple Pay and Android Pay are going to be working on strategically and taking a shot by expanding their service offline to provide better payment options.

Wearable Devices

wearable payment application

The wearable market is growing each passing day and it is expected to hit $20 billion by 2019. Many mobile payment applications are going to plan to support wearable devices by NFC chips. Apple Pay has already supported on Apple watch through NFC chips. Square is a popular credit card processing services provider, a few days before they launched a mobile payment application for Apple Watch where users are allowed to transfer money by using their smartwatch.


Click here: A Complete Guide To API Development

Key features of Mobile Wallet App

Before developing a mobile wallet application you need to consider some basic features. Every application must provide to satisfy the requirement of the users.

mobile wallet app features

  • User Registration (Log In or Sign Up)
  • Bank Account or Credit card authorization
  • Option to add money and check balances
  • Money Transfer
  • Payment for bills
  • Amazing offers and Coupons

Some Additional Features

Mobile wallet development is key to success for your business. It can be turned into the best way to orchestrate the association with your clients. And you can also increase the database of real users. You need to add some additional options to any kinds of digital wallets:

  • Reward offer
  • Loyalty Card
  • Gift Vouchers
  • Loyalty card with Promotional offers
  • Pop-up Notifications
  • Geo- locating feature
  • Exclusive offers
  • Membership Discounts

Industries that benefit from a mobile wallet application

Nowadays, Online Payment Wallets are generally associated with the financial sectors. It is used in numerous industries since the exchange of money is involved.

Retail and Ecommerce Businesses

The retailers and eCommerce businesses are using mobile wallet application. The good thing is that it helps users to store information about sales. They make payment via coupons, loyalty cards and more. If you have a plan to develop a retail business app or e-commerce app, then you must know the payment gateway integration trends.

Financial Organizations

In the financial industry, users are allowed access to several cards like debit or credit card that provide clients with a number of services. Now financial companies make things card less so they integrate mobile wallet applications. The wallet automatically saves the credit or debit card information for the user, to which the user does not have to add the card details again and again and can pay without any hesitation.

Telecommunication Companies

The telecommunication industries are enabling the clients to use mobile wallet apps to pay bill payments, recharge and transfer money to the other accounts.

Transportation and logistics

Now all the cabs companies such as Ola and Uber are allowed to the user to pay by using e-wallet applications. Some of the cab industry created their own mobile payment like Ola Money and Uber integrated Paytm (Indian mobile wallet app).

Food, Grocery and event-based

You can book your movie tickets to your favorite theatre show by using the mobile wallet application and you also use an e-wallet to pay. Even if you order food from café or restaurant you can pay through the online mobile wallet apps.


In this era of technology, every payment or bills are being paid by using mobile wallet applications. Those days are gone when people used to pay bills by visiting the bill payment centers and wait for the long in the queue. Nowadays it is easier to pay the bill payment or transfer money to another user or on their bank account from the home. Mobile app development companies provide Mobile Payment Solution to the vendors or business organizations to make easy payment. This time, developing a mobile wallet app is a great idea for startup and business. The world is becoming the digital day by day.

Leave a Reply

Your email address will not be published. Required fields are marked *