Mobile e-wallets refer to the digital wallets storing the information on payment cards on mobile devices.
They ease handling payments because you do not need to carry around your card to purchase things in stores. Examples of popular wallet applications are; Stripe, PayPal, Visa, Skrill, and Neteller.
Did you know you can build a wallet app in 2022? Developing e-wallets for mobile phones comprised different steps divided into the stages of discovery and development. The good thing is that you don’t even have to be a software engineer to have your e-wallet application. Platforms like holywally will help you. We educate you on the following ways to build your e-wallet application in 2022.
In application development, the discovery stage is an important part. As you engage in this process, you will need to identify the needs of your business. In addition, you need to know the solution you create with your e-wallet application and its relevance to the market’s needs.
You also need to identify the needs using technical requirements then match them with the available technologies in the market. If you want to raise your chances of success with the e-wallet application, do not skip this stage because, at the end of it, you will have the following as a resource knowledge for your mobile development;
- Competitor Analysis
- Market Analysis
- Product backlog
- Functional specifications
A big part of this stage is normally dedicated towards UI and UX design, with its deliverables being UX wireframes, UI mockups, branding elements, illustrations, animations, among others.
You should understand and predict how users will accept and interact with your solution in this stage. Also, you should ask yourself what your application will look like on the users’ side.
Finalization of Concept Application
In this stage, you will need to decide on the unique selling proposition for your application (USP). With USP, you will need to set out a clear message to your prospective customers about how your application will possess a value that will be superior to those of your competitors.
Developing a USP for your project will also be necessary to help consumers understand the differences between your e-wallet solution and the existing ones, especially in specific categories. That way, consumers will develop a positive attitude towards your product.
Choose a Company for Your App Development
Working with a professional and skilled company will be necessary even if you have the skills. Companies have outsourced different quality talents and research capabilities to understand the technological trends for application development.
Therefore, to realize a fast and reliable e-wallet solution, choosing a company that will serve as your reliable technical partner will be necessary. To do that, you will need to;
Search online on such platforms as ITFirms, Clutch, Manifest, etc.
- Check their portfolios and customer reviews
- Undertake an interview with prospects
- Seek to know about the relevant experience and similar projects
Design of Custom UX/UI
Since the interface is the first impression of your mobile page, it should be on your priority list. It determines what users see first, subsequently determining if they will use the application or abandon it.
Therefore, you will need an eye for details in planning the user interface for your e-wallet. Majorly, you will seek to make your e-wallet application user-friendly, feature-rich, and very attractive to the eye. This way, prospective customers will like the application before starting using it.
Application Development of the E-wallet
This is where the coding of the application itself takes place. Alongside your technical partner, you will need to select the best coding technology that suits your needs. Many programming technologies have emerged, but you need to understand the kind of devices that your e-wallet will use.
For Android application development, you may need to consider using programming languages like Java and Kotlin. For iOS devices, you will need to use a programming language like Swift.
There are many more efficient and less costly alternatives out there. For example, the HolyWally platform has libraries of reusable mobile components for building and managing the perfect digital wallet you may need.
It is a business-to-business-to-consumer solution of white label digital wallet that incorporates a human-centric approach to the design and usability of e-wallets. So, you may ask, “how is HollyWally unique to the traditional programming approach?”
For one, it is five times more time-efficient than other development platforms. For two, it is ten times more cost-efficient than other development platforms.
With HolyWally, your e-wallet will be done in two to four months. The timeline for its development will be as follows:
- Discovery- 1-2 weeks
- UX / UI – 1-2 weeks
- Development/Integrations- 2-6 weeks
- Certification – 2-3 weeks
- Pilot Testing – 2-3 weeks
The digital landscape has advanced, especially in payment systems. We are heading to a cashless era, and e-wallet applications will be the order of the day, especially for exchanging money across different countries and currencies.
Therefore, your ultimate goal would be to build a customer-oriented digital wallet that will possess many functions.