Thanks to the eCommerce industry, today, we have a plethora of payment methods. Because of the ease and safety modes of payments offered, more and more people are switching to eWallets than real wallets. According to a study, by the end of this year, digital payments will reach a whopping $726 billion. Many apps have played a significant role in the upbringing of eWallets. Due to the high demand for these apps, there is fierce competition out there between the best apps. Thus, let’s take a look at the top tips and necessary features of eWallet app development.
Key Features eWallet App Development
- User Authentication
User authentication is one of the most common features of eWallet app development. Nobody will install an app if there is no authentication in it. In the process, your necessary information is taken, and if there are any changes, you can update it whenever you want to. Identity proof and basic info are essential for an app. And the data is kept very confidentially in their databases. User authentication also helps in gaining the trust of the user. - Security
There are many vulnerable points in app development. Most users are always worried about the safety of an eWallet app. Thus, to ease their worries, the security must be top-class without any breaches. Here are some necessary but robust security measures:
- Biometrics for unlocking
- Notifying the email ID after every login, transaction, and other critical events
- Two Factor Authentication
- Analytics
Analytics is vital for the user as well as the admin. Because both of them require reports of their activities, it is highly beneficial to the operator because then they can plan the strategies accordingly. On the other hand, users can see their history and get reports and invoices of transactions for better details. - Getaways
Payment getaways are often among the first things taken into consideration during eWallet app development. That is because different people have different payment getaways with them. Therefore it is helpful if most used payment getaways according to the regions are supported. For example, PayPal is used everywhere in the world, and BHIM is used in India. - Money Transfer
Money transfer is an essential feature because the first thing you do when you get an eWallet is to transfer the money from the bank into it. In most cases, there is a small commission fee involved in the process, but it also differs from app to app. For those who will have an app of their own in the future, the rate shouldn’t be too high. And for users, they should go for the apps with reasonable fees. - Comfort
The ease of usage of an app speaks a lot about it. The more the comfort, the more the users. It indirectly attracts users. During eWallet app development, the ease of the user interface should always be a priority. Thus, as a developer, you should always take care of the comfort of the app.
Tips for eWallet App Development
Approach
A completely different approach is helpful, but coming up with many different functions can also be tedious for the user. Users mainly prefer a simple app with excellent features over a complicated one. But, on the other hand, tech-crazy users prefer an extensive range of features. In this case, coming in the middle is a good option. Therefore, keeping it simple but innovative at the same time is critical.
Integrated Solutions
Integrated solutions involve making an app that is secure, easy to use, smooth, and coherent. You can attain all of it on your own, but companies are great at helping to achieve integrated solutions by improving the interface and functioning of the app.
Promotion and Refund
Many apps use the promotion and refund strategy for more users for distinct promotions and refund offers. Most famous ones being cashback, and discounts. Such procedures are useful for getting more and more customers. It would be best if you adopted creative ideas like these during eWallet app development. But, it would be best if you also mentioned everything about the offer. Users won’t like it if you have refund offers, but there is a small condition in the corner of the screen that says otherwise.
Backup
It is necessary to back up the data of a user and store it on servers. It will be beneficial in tough times when the user has lost or deleted any data. In that case, the user can receive the data from the server. This is a crucial tip to keep in mind for eWallet app development. Also, for users, they can back their data with emails or any other such sync method. AI is the best option because AI recovery systems can always come up with alternatives; it will help while recovering business assets.
Choose a platform wisely
There are three leading mobile platforms for apps. It would help if you decided which platform will be the best for you. You can select by just knowing which platform is more used in your region, iOS, Android, or Blackberry. The best choice here you can consider is cross-platform app development. It will enable you to use all three platforms and skyrocket your business. But, even that has its disadvantages, the main con being the cost. It is costly and might not be the best move for first-timers. It is, therefore, reasonable to choose a platform according to the geographical stats.
Conclusion
To go cashless, nothing can be better than switching to eWallets. The eWallet market is increasing multifold very quickly, thus offering you a wide range of choices for apps. With the increase in size, developers also understand the needs of non-technical customers. Therefore, there are more and more simple apps with great features and fantastic security coming up frequently. Always make up your mind thoroughly before choosing an eWallet app, because a lot will depend on it. So, these were the top tips and necessary features of eWallet app development.
