Building a Popular Mobile Wallet App: 8 Essential Features

Mobile Wallet App Development

Today, mobile wallet app appears to be dominating the online payments market. Nowadays, people love to use mobile wallet apps (e-wallets) to make transactions in a quick and fuss-free manner. Also, it’s an easy way to get rid of waiting for hours just to pay the bills or transfer money to other people.

As users embrace the digital wallet app concept many startups intend to build their own mobile wallet app platform in response to this growing demand. The amazing success stories of Mobikwik, PhonePe, Paytm, and others only confirm this. For example, Paytm has more than 300 million enrolled users as per the insights of July 2018.

As per a report generated by Statista, “the revenue of the worldwide mobile wallet market has risen from 450 billion US dollars to 780 billion US dollars. Likewise, experts predict the growth up to more than 1 trillion in the year 2019.”


Moreover, Market Research Future has introduced a Global Forecast Report estimating that the e-wallet market would rise at a CAGR of 15% and is expected to reach around $2100 billion within a span of six years from 2017 to 2023.

Mobile wallet apps are more popular as they give a secure and solid solution to make transaction processing quick and helpful. In the age of digital payments, businesses are adopting the trend to keep users happy. So, as a business, if you are planning for mobile wallet app development, make sure your mobile app developer follow these must-have features.

Key Features to Include in Mobile Wallet Apps

Here are some significant functionalities to consider while developing a mobile wallet app:

Key Features to Include in Mobile Wallet Apps

Ease of Use & Seamless Transaction

When it comes to paying with a mobile wallet, it’s just a matter of touch. E-wallets help link your debit/credit cards, bank account, Driving License, and so on with the app, and it’ll be saved to perform the transactions anytime without a hassle. This helps in quick and instant transfer of cash to anywhere in the world. This feature further helps in offering easy access to the app and seamless transactions.

An Interactive and Smooth User Interface

User Interface (UI) plays an important role in user engagement towards the mobile app. An attractive UI encourages the user in the first look. To use the app smoothly with no perplexity, it is critical that the UI of the mobile wallet app must be easy to use, and attractive. There might be different criteria or components to make the app wonderful and look best.

Data Synchronization

Digital wallet app stores your bank account number, credit/debit card details, and important passwords in a single app, so you can retrieve your information on your mobile phone anytime you want. Users can synchronize their information with any of the devices via desktop or mobile app, and then the e-wallet will manually or automatically sync, depending on your handheld gadget.

Cloud-based Technology

With this feature, quick transactions are possible in a secure manner. The cloud-based technology gives customers the full suite of capabilities to transform their smartphones into digital wallets. For instance, a payment made with a simple tap at Point of Sale (POS) terminals is changing the payment aspect for vendors, issuers, and buyers alike.

GPS Tracker & Navigation

GPS Tracker & navigation is considered as one of the important features of an e-wallet mobile app. With the help of GPS, users can find nearby people and can make the payment with just a tap on the user’s name. This helps save time as no account information is required to be filled and all the transaction can be done with an easy approach. This results in visibility and popularity of the app.

Wearable Device Integration

Wearable technology is not just limited to fitness trackers, smartwatches, or smart jewelry, but is also the next logical step for mobile payments. As per Tractica, wearable payments will amount to about $500 billion by 2020, from $3 billion in 2015.

Much the same as your contactless debit/credit card, wearable payment gadgets contain a Near Field Communication (NFC) chip. This NFC chip contacts the chip in the card reader at the point of sale, enabling them to check one another and make the transaction.

Spending Analysis

Spending analysis is an extra tool that you must incorporate into your mobile wallet app to enable users to analyze their spending. This encourages users to adaptably plan their spending better and limit their expenditure to accomplish your goals.

Privacy & Security

Your e-wallet must be effective if the users can depend on its security structure. The e-wallet expects users to store their card information or enter their passwords. So, your app must be equipped for securing the information of the users’ data. As such apps are always a soft target for hackers, mobile wallet app developers must develop a password-protected app with features like sending OTP, fingerprint, or QR code for the validation.

Popular Examples of Mobile Wallet Apps

Amazon Pay

Amazon Pay is an online payment processing service that is owned by Amazon. Established internationally in 2007, Amazon Pay uses the customer base of Amazon and focuses on giving users an option to pay with their Amazon accounts on external dealer sites. Amazon Pay gives an opportunity to Shop on Amazon with the tap of a finger.

Google Pay

Google Pay, a part of the Google ecosystem, has scaled up its customer base very quickly as compared to other mobile wallet apps. With Google Pay, one can transfer money to friends/family or anyone they want, pay bills, purchase online, and so on. This app works securely with your existing bank account. There is no need for KYC (know your customer) formalities and you can fully rely on this e-wallet for transferring money.


PayPal is known as the granddaddy of payment companies with a history since 1998. It is the best digital payment medium when it comes to shopping online. It’s the only mobile wallet app that you can use – to exchange cash to and from any US-based financial balance or foreign bank accounts and to transfer cash to family or friends without any deduction charges.


To conclude, whether your business is a startup or a full-scale company, you can opt for including the above-mentioned features while developing a mobile wallet app and making it a win-win for yourself. This approach can help you keep mobile wallet app development within your budget. Also, it helps reduce the time to market the app and enhance customer experience.


Amit Manchanda

About the Author

Amit Manchanda is working at Net Solutions as Project Lead and has over 9 years of experience in technologies like ASP, Adobe Flex, and Android. He has been part of SME (Subject Matter Expert) Group for RIA applications. He possesses a sound understanding of technical requirement/problem analysis and resolution for providing the best solutions to clients. He is passionate about his work and enjoys interacting with his team. In his leisure time, he loves to listen to music, watch cricket, and play with his daughter.

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