In this post,Guest Posting we will discuss ewallet app development cost, which may depend upon many factors, including the features required, the platform (Android, iOS or Both) as well as the location of the development company. In a nutshell, the ewallet app development cost may range between $30,000 and $100,000, depending upon above mentioned factors.

The world, where we live in, is powered by technologies. Everything from taxi booking, shopping, to ordering food can be done just with a few taps on the mobile devices. The rise of the E-wallet Mobile App Development have paved the way for easy accessibility of goods and services.

Smartphone technology and innovations have changed the way customers interact with the brands. Mobile applications have brought most of the services in our hand, leading to faster economic growth. Customer convenience and innovative product/service offerings are the primary goals of technological innovation.

We all have witnessed the growth the eCommerce sector has seen in the last decade. The same goes with the financial sector. Financial technology (Fintech) have seen an increase in the recent past and the investment figure will exceed USD 30 billion by 2020. While many financial Database Development  institutions will realize the impact of technology, the mobile payment market seems to win the race.

Digital wallet payments are the major contributor to fintech growth as the global eWallet transactions will reach USD 13,979 billion by 2022. To be noted, the total value of transactions in 2018 was USD 4,296 billion.

eWallet App Market – User Analysis

The mighty success stories of M-Pesa, Paytm, Samsung Pay, and others have been sincerely inspirational. Paytm for instance, has 350 million registered customers according to data released in May 2019.

The same may be stated about different cell price apps too. However, if look at the worldwide scenario, then WeChat pay is way ahead with 600 million worldwide users, followed by Alipay having 400 million users on the board.

POS Payments Integration in eWallet Application Development. There are four different ways to realize POS mobile wallet payments:

1. NFC

Near Field Communication or NFC is the best solution for convenient information sharing or transferring funds. NFC allows the transfer of funds or sharing of information by just touching the phone with NFC receivers. Nowadays almost every eWallet app is using NFC solutions for contactless payment. One such example is Samsung Pay.

2. QR Codes

QR codes are used by people to grab the contacts of people they regularly meet. Also, it is used to make payment with contacts which are not saved in the phone. For making payments, users just have to scan the QR code of the other person with whom they want to make a transaction. This is a smooth and simplified way of making transactions.

3. Bluetooth or iBeacon

iBeacon is a Bluetooth Low Energy (BLE) technology, which was launched by Apple with iOS 7 for iPhone and other Apple device users. It is a creative and different way to provide user location-based information and services. Beacons are cheap and use small transmitter devices to transmit the signal to the apple devices which are in its range.

Similarly, Bluetooth also identifies nearby devices and makes the transaction fast and secure. These emerging technologies are used by almost every eWallet solution.