Everything is going digital and so are the payment methods. People moved on from the traditional payment method i.e cash to modern payment options like credit cards/debit cards.

As technology is evolving, the concept of an online payment app came into existence. In fact, as per a Global Forecast Report, the eWallet market will grow at a CAGR of 15%. This number is just a preview of how integral payment apps will become in our lives.

Looking at the success of apps like Phone Pe, many business owners want to develop one. For that, you will need the professional help of a custom mobile application development company.

We don’t think you need any more introduction to a mobile wallet app. But do you know what problems a payment app will solve?

Without an eWallet App:

Let’s check user and merchant problems without the eWallet app.

☛ User Problems

  • Using cards and cash takes uptime
  • Fear of theft with cash and cards
  • Refund & cancellation issues take time in net banking or card payments
  • No record of transactions in a single place

☛ Merchant Problems

  • Time-consuming as only one card payment can be done at a time
  • The complex process of cancellation/refund to users
  • Bank statements only for record-keeping at a single place

After this, we are sure you will agree that a mobile payment app is here to make our lives easier. Now, we will discuss the must-have features to create the best online payment app.

Key Features for Users:

1. User Registration

Every user will have to register on the app before using it. He/she can do that using an email ID or mobile number. On doing that, they will receive a code and the account is registered. Some mobile wallets in India also use KYC (Know Your Customer) to completely secure transactions.

2. Linking the Bank Account

Here, the user will link his/her bank account with the eWallet to make or receive payments. They need to enter the card details, CVV, and expiry date of the card. All this is personal and sensitive information. So, make sure that the mobile app development company you choose makes the app completely secure.

3. Add Money into Account

Users can add money to add more money to the eWallet. They can use the card directly or use a password to do the same.

4. Fund Transfer/Receive Fund

eWallet apps like PhonePe give users the option to send money by entering a mobile number or scanning the QR code. There is also the option to do that with NFC or beacon technologies. The same applies to receiving money.

5. eWallet Passbook

The passbook is an important feature of any UPI app. Here, the users can view their transaction history. For an advanced search, they can filter the transactions.

6. Send Money Back to Bank

Now, the best UPI apps also give users an option to send money back to their accounts. Also, there is a monthly limit for using the eWallet. A user will not be able to do more transactions than the set amount. For instance, the limit in Paytm is 10k.

7. Bill Payment or Recharge

Users can pay bills from an app like PhonePe. It can be anything – right from phone bills to water and electricity. Also, they can do monthly recharge using the app.

8. Pay for Insurance

This is one of the recent features of the PhonePe app. A user can pay the insurance premium as well as income tax and sales tax too.

9. Flight & Train Reservations

This was not possible earlier. But now users get the option to book train, flight, or bus tickets through the app. All they need to do is enter the journey details and follow the steps to make payment. Also, they can book movie tickets.

10. Shopping for Grocery and Other Products

This feature is not available in all paid apps. Only in major ones like Paytm. Most app development companies will suggest this feature to attract more customers. Here, users can shop for groceries and other items too like accessories, apparel, household items, etc.

11. Promotional & Discount Offers

As the number of apps like PhonePe is increasing in the market, give discounts or promotional offers to attract users. You can show these under a separate category on the app.

12. Ratings & Reviews

Ratings and reviews are important for anything and everything that is done online. An app for recharge is no different. Ask your users to rate and review the app. On the basis of reviews, you can improve the app. Also, it is an organic way to lure more users.

13. Choosing a Language

It will be more convenient for people if they can use the app in their native language. If you offer this option then they are more likely to choose your app. Add the language option on the basis of the geographical location of your target audience.

14. 24/7 Assistance

It is an important feature from the user’s perspective. You should offer them assistance for any issues they face while using the app. It will be even better if you use virtual chatbots. Chatbots will be available 24/7 and can handle multiple queries at the same time.

15. Refer a Friend

This is a type of promotional offer. You ask the users to spread the word about your app. In return, the users will get some discounts or coupon codes.

16. App Settings

The app settings will allow users to customize some parts of the app. For instance, profile settings, security, payment settings, etc.

Key Features of the Admin Panel

1. The Dashboard

The admin panel will have a dashboard that will allow you to get information about all the registered users. You can also see the real-time analytics data and monitor the notifications sent.

2. Managing User Profile

An app admin will monitor the user profiles and the daily transactions too. Admin will be able to do all that with the help of this feature.

3. Robust Security

It is the responsibility of an eWallet app owner to make sure that there is no compromise on the security aspect. You should review the security tools and features from time to time. One loophole in security and highly confidential data will be easily compromised.

4. Real-time Analytics

You should know the real-time analytics to plan further. Real-time analytics data will include the number of people actively using the app. To make apps like PhonePe successful, it is crucial that you monitor their performance regularly.

5. Add/Block Users

Only the app admin has the right to accept/reject the registration of a user. As the app admin, you can block the user if he/she is involved in any illegal activities or malpractices.

Some Advanced Features to Consider

It is optional to include the advanced features in your eWallet app. But know that these features will ultimately improve the user experience. They may cost a little extra but it is worth it if users end up loving the app. Following are some of the advanced features:

  • Push Notifications
  • Geo-location
  • Synchronisation of Data
  • Tokenization
  • Loyalty Programs
  • In-app Camera

eWallet App Development Cost:

The cost to develop apps like PhonePe will vary depending on a number of factors. Some of the top factors are:

☛ App Platform (Android, iOS, Windows)

The app platform will directly have an effect on the final cost of development. You choose the platform on the basis of your target audience. If you want to save some money, then hire a cross-platform app development company.

The cross-platform apps are built with a single code and run on both platforms i.e Android and iOS.

☛ App Features

Another major factor that directly affects the cost is the number of features. Be it primary or advanced features, they will result in an increase in the cost. There is a direct correlation between them.

☛ App Developers

The app development cost will also depend on the developer’s team. Some factors, in this case, are their experience, expertise, and geographic location. Developers in Asian countries like India charge much less as compared to developers in Europe or the USA.

☛ Technologies Used

Today, users expect a lot from mobile payment apps. If you use additional technologies like blockchain to enhance the performance then it is going to add to the cost.

Considering all the factors, the approximate cost to develop an eWallet will range between $70K-$80K. Of course, the precise cost will be known only after knowing the precise project requirements.

Do you think your eWallet app idea has something unique to offer? Well, then we are all ears! Consult our app experts on [email protected] now!

apps like phonepe


It is not possible to state the exact cost of developing an eWallet app without gathering the project requirements. However, the approximate cost will range somewhere between $70K-$80K.

You can either partner with a development team that will provide end-to-end services of development or finds individual developers. You can find freelance developers on websites like Upwork.

We estimate the cost of development on the basis of project requirements like the number of features, choice of app platform, developers working on the project, and project duration, etc.