Mobile app development

The Common Mistakes to Avoid the Failure of Wallet App

he Common Mistakes to Avoid the Failure of Wallet App

Have you realized what people want while transacting money?

All they want is to buy and transact the money with their empty pockets. Now, this doesn’t mean to buy free products but to transact money from their mobile. They don’t want to carry the cash everywhere.

They want the ubiquitous payment solution that can replace their heavy physical wallet. But, today many mindsets are confused between the wallet apps and payment apps. So, before we get to start with the hot topic of wallet development, let’s have a brief knowledge of the payment apps and wallet apps.

Introducing E-Payment Apps…

E-payment apps are any simple mobile apps that offer the payment option inside it. The best illustration is Airbnb. It links the Apple pay on the iOS platform which allows the users to pay for their bookings.

Introducing E-Wallet Apps…

With the service of payment, it let the user replace their physical wallet needs like cash, credit/debit cards, important documents like driving license, and membership cards. With e-wallet apps, users can store all this digitally.

Digital apps are not just for the payments. It trims down the user’s physical wallets by storing everything digitally. And this is not the end. Wait for the main points. This apps also save time by just having the smartphones to the payment terminals and verify the purchase in just a matter of seconds.

Moreover, users can also shop using an app instead of cards. This can help you reduce the storage places of the card details everywhere. It’s one place stop. And not to worry at all about the prying eyes on your card details because your full card number is never on the display. Only a few numbers are displayed for you to recognize.

The rewards are an all-time favorite of the users. You can still gain the opportunity for your cards like cash backs and other rewards when you use a card from the wallet app.

Before we start with the features and techniques to make your app more successful, let’s analyze the problem of why the wallet apps fail.

1. User Engagement

Due to the unappealing interface, sometimes the apps don’t make out to impress the users. If the apps don’t succeed in engaging with the users, it would probably won’t hold on for longer. It’s because there are several options the users can get from the app store and the e-wallet mobile app development field is no exceptions.

2. Security Concerns

A lot of transaction is done through the e-wallet apps. The user stores their confidential data like the card number and all the transaction histories and many more. Now it’s your app’s responsibility to protect the user’s data. As the hacker’s soft target is always the apps, your app should detect the security concerns efficiently.

3. Lack of Features

Today, users expectations are they get the full features in an app which can help them make their life easy. If your app is insufficient to provide the basic features then there are huge chances the user rejects the app.

4. Creative Approach

The bitter truth is, we don’t accept any of the new approaches when it comes to mobile app development. When the e-wallet apps come with the out-of-box thinking, it is fairly possible that the audiences don’t accept the apps and likely they reject it.

Let’s have a  look towards the factors that can lead you to the e-wallet mobile app development success.

1. Integrated App Solutions

Your app should be considered as the solution for making a seamless, swift and secure mobile transactions. The best way is any of the expert mobile app development company can assist you to come up with an integrated app with flawless functionality and an appealing interface.

 2. Comfort and Convenience

The user wants the e-wallet app to make their life easier than before. Your app should offer the users that comfort and convenience by aiming at enabling the users to get rid of pulling out the debit/credit card from their physical wallets.

 3. Attention on Features

Compatible and user-friendly features can give your app a competitive edge. Because of any sort of constraints, you should not avoid or ignore the basic features while the mobile app development process.

Here I have listed some of the basic necessary features that you can add to your app while developing it. However, I suggest you approach a reputed e-wallet mobile app development company for the smart and necessary needs for your app.

  • All the major gateways
  • Debit/Credit card and bank account additions
  • Money transfer from wallet to the bank account
  • Utility bill payments
  • Integrate POS
  • Calculator and tracking tools

These features are the basic ones. They are the necessary ones. Some of the extra features included are:

  • Virtual Card generator and integration
  • Integration with wearable devices
  • Cloud Integration
  • Data Management

Now all these features when enabled can ensure you about the success of the app. If you are planning for the startup then you can basically go for the initial features and then upgrade your app in the subsequent versions in the future.

This way you can do both – save money and keep the mobile app development within the budget. Also, you can reduce the time of arrival in the market. This way you can enjoy the advantages of the early arrival.

Briefing it All Out…

In today’s age of mCommerce, the users expect the mobile app driven payments for all type of transactions. Developer’s predictions – in the near future the e-wallet apps will rise in the numbers. Everything, from paying the billings to shop all is done with wallet apps. These apps are already ready to perform multiple transactions in a secure and user-friendly manner. Even though e-commerce and retails have huge beneficiaries, B2B and B2C can also adopt the e-wallet apps for any kind of payment.






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