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Key Tips and Tricks to Build a Custom E-Wallet Mobile App



Key Tips and Tricks to Build a Custom E-Wallet Mobile App

Cashless payment is already taken over transactions in many parts of the world and e-wallet, or mobile payment apps are particularly playing a significant role in helping people to go cashless while shopping or making payments for anything. As per the findings of a recent study by Capgemini and BNP Paribas the volume of digital payments is expected to reach a whopping $726 billion by 2020. Apart from the already established and popular e-wallet apps in the market, an increasing number of new custom wallet apps will play a significant role in this growth.

If you have an e-commerce or business app that needs to deal with customer transactions on a daily basis, you may feel tempted to build a custom e-wallet app built and designed specifically to make transactions easier for your customers. But where from to start? Are you aware of the best practices and tricks for developing a custom e-wallet? If not, let us explain some essential tips and tricks here.

Know the basics of custom e-wallet app development

Before venturing into the e-wallet mobile app development, you need to have some clear idea about how the custom e-wallet apps work and offer value to the users. Let’s have a look at the key aspects.

  • Ease of use: The e-wallet should offer extreme ease and require the user to provide password and pin code and bring his device near the payment kiosk to process payment.
  • Integrated experience: E-wallet should offer an integrated experience that requires no paper receipts and user signatures and delivers all the promotional offers and coupons right through the app.
  • Fast processing: The e-wallet app must be able to process payment quickly without making the user wait for more than two or three seconds.
  • Scalable: The e-wallet app should allow processing any type of transaction regardless of the amount.
  • Secure transaction: The e-wallet app should protect the transaction and financial data of the customers through several layers of security features.

Must include features for eWallet

Certain features are simply invincible and irreplaceable for any eWallet app. These features now explain the best practices and accept the standard of user experience for all successful e-wallet apps. Let’s have a look at these features.

  • User registration
  • The authorization of bank account
  • Balance checking
  • Money transferring with ease
  • Easy and secure money transfer
  • Making bill payments
  • Promotional points to retrieve for transactions
  • Loyalty cards, gift vouchers, rewards and offers
  • Geo-location tracking

Select the type of wallet type and intended mobile platform

To begin with, you need to decide on the type of e-wallet app you want to build the specific mobile platform you want to target initially. Mobile app developers can also choose to create a cross-platform digital wallet that works on all OS platforms. In this respect, considering the audience of your target market is also essential. For Europe, Android seems to enjoy an upper hand over others while in the US, iOS enjoys the lead.

Now, consider what type of e-wallet you need. It can be a simple app for redeeming coupons and discounts or a fully-fledged payment app with all advanced features. Some of the options include the following.

  • A retail wallet to store and redeem loyalty cards, coupons, etc.
  • A mobile wallet app to process payment for credit card and net banking.
  • A mobile wallet for peer-2-peer money transfer.
  • A mobile wallet for Point of sale (mPOS) payment processing at the storefront.

Understanding the technologies involved

An e-wallet app involves several technologies for processing payments in different situations and contexts. You need to have a clear idea of how each of these technologies and how you can incorporate them through platform-specific SDKs. You have an array of free toolkits on the GitHub like the Android Software Development Kit (SDK). Let’s now have a look at the key payment processing technologies for digital wallet apps.

  • NFC: Near field communication or NFC is a secure wireless protocol that facilitates the transaction by connecting an NFC-compliant smartphone with a POS device. As the credentials of the user remain stored within them-wallet app, just after selecting the payment he needs to bring the device close to POS and payment is processed.
  • iBeacons and Bluetooth: iBeacon is a Bluetooth enabled a system that allows transferring data without any internet connection. The Beacon-enabled POS system by fetching the customer’s credentials can help to process payment without scanning any card or coupon.
  • QR codes: QR code works much like the NFC protocol and allows processing payment instantly by scanning a code by the user through his device.

Give priority to security features

Finally, when it comes to security, no digital wallet app can compromise. From the transaction data to customer’s personal data and financial information, there are several vulnerable and sensitive information that an e-wallet needs to handle on a daily basis. Naturally, it needs to offer a secure environment devoid of security breaches and threats. Consider the following methods to ensure optimum security for a custom e-wallet app.

  • End to End Encryption: All significant and successful wallet apps like Google Pay, Apple Pay, PhonePe, Paytm and others use end to end encryption to secure every kind of data and user inputs.
  • Tokenization: Instead of asking the user to provide his details for every transaction, all the details including the card can be saved as an encrypted token that appears with a random number and allows users to pay with this.P
  • Passwords: Passwords come as the old method of protecting data that surely proves as not enough to tighten data security. But in case an e-wallet app allows using password along with other security features, it should make it mandatory to use strong passwords with a mix of a minimum number of uppercase and lowercase letters and numerical value.


Developing a custom e-wallet app for your online store or business website can be a real value-addition to the experience of your customers, provided you follow the best industry practices, ensures optimum security and ease of use.

Juned Ghanchi is the co-founder and CMO of IndianAppDevelopers company which offers to hire app developers in India for mobility solutions, Juned helps connect app development firm to prospective clients with the power of research and marketing strategy.