What is an eWallet App?

The eWallet app is known for transferring money electronically. It enables the customers to make in-store, online, and in-app payments to the shopkeeper or any purchase. eWallet stores debit & credit card information digitally and connects people to their bank accounts. So, they can go both cashless and cardless while transacting with anyone. According to the Market Research Future “The worldwide E-wallet market is predicted to develop at a CAGR of 23.40%, reaching a market value of roughly $ 489.3 billion by the end of the forecast period 2022-2030.” The digital wallet includes Gift cards, loyalty cards, discount coupons, and other promotional items in the wallet.

Types Of Transaction in eWallet App?

eCommerce has emerged as a big victor in every circumstances. The Dependencies of people on it are growing in a fast-paced environment. Ordering essential items has increased to a great extent. It has given rise to e-Wallets as well. There are several methods through which one can make online payments in today’s digital world.

  1. NFC (Near Field Communication)
    It is a contactless chip-enabled payment method. The payment may be made with a reach of three to four inches. The latest cell phones are all being integrated with this mode of payment to avoid any contact between the users and the sellers.

  2. Mobile Wallets Apps
    The best eWallets that have changed the way transactions are done include the likes of Google Wallet, Cash App, Due, Samsung Pay, Android Pay, PayPal, Alipay, and others.

  3. Sound Waves Based Payment Methods
    This is a unique way of payment that allows one to make a transaction using sound waves generated by a smartphone, hence boosting contactless payment. This capability is adaptable to any device, including smartphones, feature phones, card swipe machines, and so on.

  4. Internet Banking
    Internet banking users must first add a payee to their account by accurately entering all the necessary information. After receiving an OTP on their Cell phones, allowing them to add the payee. After the payee is added, users are ready to conduct any transactions.

  5. Direct Carrier Billing
    It is mostly used in rural areas where several methods of online payments are still missing. Buyers can make purchases and ask the seller to add the amount billed to the phone bills that they receive monthly.

Benefits of eWallet App Development

  1. Expanding Clients Database
    A mobile payment application enables fintech, banks, and enterprises in several other specializations to easily reach new customers. A well-planned eWallet layout that is loaded with features is beneficial for several businesses.

  2. Provide Enhanced Security
    E-Wallet programmes are created with extreme security in mind. Whether it’s 128-bit encryption, two-factor verification, unique finger imprint access, biometrics, voice initiation, or any other PSD2 and open financial security measures, eWallet apps are designed to withstand digital attacks and protect customers’ information.

  3. Improved Onboarding Process
    An eWallet application with its own set of enhanced onboarding highlights enables the financial foundation to provide their clients with a useful onboarding device, allowing them to generate their own records and submit reports from the comfort of their homes.

  4. Budgeting & Analytics
    Several clienteles like the ability to run analytics within their eWallet applications. A Digital Wallet arrangement that accompanies flawless elements that permit clients to make planning classes and perceive their previous transection history. A decent eWallet application can produce reports that show explicit exchange.

Factors to Consider During eWallet App Development?

Without the proper guidance, developing an eWallet application might become hard. So, let’s discuss a few key factors given below-

1. Digital Wallet Types

Spend time learning about the various categories of eWallets and analyzing how the peers in the business are using them.


  • Unique payment app beneficial for storekeepers to get paid by customers. (Walmart Pay)
  • Funds transfer – To the organization’s account


  • Process payments with partnership marts (Apple, Android & Google Wallets) that accept payment made for eWallet service provider using the partner shops
  • Funds transfer – A trusted payment account


  • Conduct transactions for several organizations using the same platform. (American Express, Amazon Pay)
  • Funds transfer – Directly to the bank

2. Mobile Payment Methodology

Begin the digital wallet app development journey by determining which payment alternatives that want to provide to the consumers in order to maximize monetization prospects.

  • Point of Sale (POS) System
    Essential for online or in-store sales
  • Credit & debit card readers barcode scanners
  • Receipt printers
  • AI-based POS system for retailers.
  • Beacon
    With Bluetooth 4.0 or above
  • BLE transmitters for online and offline payments
  • POS terminal to fetch the card details of the shopper & automatically process payments.

Near Field Communication (NFC) Tags

  • A contactless chip

QR (Quick Response) Code

  • QR code at the time of checkout to get paid.
  • Sound Wave Based
    Enables transactions on cell phones/ smartphones, feature cellphones, card swipe machines, & so on.
  • A sound wave containing encrypted data regarding the payment, the customer’s device receives it, decodes it, and completes the transaction.

3. Highlight - Features & Modules of eWallet Mobile App


Depending on the business needs, you can incorporate advanced features into the eWallet mobile app. They include:

  • Geo location
  • Wearable integration
  • Virtual card creation
  • AI Chatbot integration for Around the Clock customer engagement
  • Personalized recommendations

Mobile wallet apps have the components discussed below- 

Admin Panel

  • Add & edit new offers
  • Data control & Real-time analytics
  • Merchant & User management
  • Revenue & Security Controls
  • Secure login & Role-based access control

Merchant Panel

  • Intuitive dashboard to create/edit profile
  • Add & remove products & create QR code
  • Discount coupons, reward points & promotional offers
  • Make Deposits & withdrawals
  • Customer & employee management
  • Push notifications, POS integration & EMI payment option

User Interface

  • Easy registration & Link bank account to Add money
  • Transfer money & make bill payments
  • Set autopay & view transaction history
  • Check balance & Track reward points
  • Split bills & receive payments
  • Avail offers & rebate
  • Send invites to earn referral points

4. Security

To complete transactions, the payment application asks the user to freeze and save their bank data. The primary responsibility is to make sure the financial data and passwords stay safe. Adding pins, fingerprints, retina scans, etc., to enhance security is beneficial. The eWallet development team must employ cutting-edge technology as well as powerful security procedures that are tough to decrypt.

5. Regulatory Compliance

eCommerce platforms must comply with all applicable local and worldwide financial rules and regulations. As a result, they should be designed with the eWallet framework’s application in mind. Having a seasoned technology partner on your side can help you avoid dangers and ensure transparent transactions.

6. Various Technologies Required to build an eWallet App

  1. Frontend – Java, CSS, Bootstrap, & Swift
  2. Backend – JavaScript, Ruby, AngularJS, Python
  3. Database – MongoDB, HBase, Cassandra, Postgres, MySQL and MailChimp Integrations
  4. Cloud Environment – AWS, Azure, and Google Cloud
  5. Phone Verification, SMS & Voice – Nexmo
  6. Payments – Stripe, PayPal, Braintree, and PayUMoney
  7. Data & Email Management – Datastax, Mandrill
  8. Push Notifications – Urban Airship, Push.IO, Amazon SNS, Twilio
  9. QR codes – ZBar Code reader
  10. Real-time Analytics – Hadoop, Apache Spark, Big Data

Examples of Prominent eWallet Apps

Let’s get some ideas on how to develop a mobile wallet app by looking at ome of the greatest mobile wallet apps on the market.

  • Google Pay
    Gpay allows connecting so many cards, like MasterCard, Visa, American Express, and others globally. It is available on both operating systems, such as Android and iOS.
  • Apple Wallet
    This solution allows consumers to add different types of payment cards and make online and mobile payments through the Apple Pay payment system. Apple Wallet is applicable only for the Apple ecosystem – iOS, watchOS, and macOS.
  • PayPal One Touch
    PayPal is leading the – One-Touch application- allows making online payments and onsite locations via smartphone. It’s acceptable for both Android and iOS platforms.
  • AliPay
    AliPay is a popular mobile payment system. Alipay is the most popular payment app in the world, with millions of users. This Giant Pay platform is compatible with Android Pay, Apple Pay, and Samsung Pay.

Why XDuce as a Partner?

XDuce delivers on-demand enterprise-grade digital wallet app development services for native and cross-platforms mobile environments. XDuce’s highly skilled and experienced team will leave no stone unturned to deliver work satisfaction. We are dealing with Cloud Native, Full Stack Development, Mobile App Development, MVP Development and many more.


Contact us for additional information about our services. We will be delighted to serve you.