As the world moves towards digitalization, mobile payment technology has been one of the biggest beneficial factors in India, especially after the demonetization of the government. From large businesses to small merchants, everyone has embraced the adoption of list of mobile app development companies India payments. Mobile wallet or mobile payment system are smartphone applications in which users can store their bank details (debit / credit cards), a convenient or easier way to complete transactions with just a touch of the phone.
Understanding the benefits of mobile wallet apps, Fugenx, the leading mobile app development company Bangalore, has designed a blog, which tells you about the benefits of a cloned app like Paytm, what are its features, technology and cost of developing the application.
How much does it cost to develop a Wallet application like Paytm?
Paytm is the largest Indian online top-up company located in India, where the company was initially admitted by One Paytm with a fair mobile top-up, which was later expanded to online shopping, Paytm marketplace, wallet, and many others. Booking bus tickets, paying utility fees, and at the same time getting money after serving in Paytm wallet to climb the victory steps. Since India became a digital cashless India, the market need for online charging app and mobile app development companies in India are growing more and more due to digitization. The Paytm mobile app is available for Android, iOS apps development company India, and Windows users.
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Main features of the Paytm web and mobile application (for users):
FuGenx, the leading mobile wallet development company in Bangalore specializing in developing successful e-wallet application with innovative features and advanced technologies, takes into account various facts related to Paytm mobile application technology, such than
- Registration / Login by email and mobile number with OTP
- User profile with transaction history
- Add money to your Paytm wallet using online banking, debit card, or credit card
- Send money to other Paytm in canning QR codes or phone numbers
- Pay bills such as gas, water, and electricity bills
- Recharge mobile phones, data card, metro card, and SRD
- Pay fixed, broadband, and postpaid bills
- Pay tuition/college fees with the insurance premium
- Coupon code
- Ecommerce Marketplace (optional)
Main features of the Paytm web application (for administrator):
- User Management
- Portfolio Management
- Digital payment module
- Coupon code and cashback module
- Customer support and feedback module
If you are planning something close to Paytm, you should focus on the wallet function to get started… and go from there. Paytm did the same:
App Design:-The most important thing is that a wallet app should be crisp and precise. If people get lost / don’t know how to use your app, they won’t trust you with their money.
Application platform (Android, iPhone):-The cost of application development varies from platform to platform. And if you are targeting a local / semi-urban / rural market, we suggest you start with an Android app.
App Size:-if you target a market where your users have a good idea of the competition, app size becomes important. A heavier application can cause your users to switch to a direct competitor. Always try to keep things as light as possible, to have the upper hand. Nobody likes their phone memory to be full:
It is defined as the total number of basic or advanced features developed in the e-wallet application like Paytm.
To advance an app/fashionable and provide an attractive, secure, and safe environment for app users, FuGenx, the leading mobile app development company in Bangalore, combines the app with technologies such as Blockchain and the cloud to make you competitive, among other things.
FuGenx model for an application like Paytm development
- Application Design — Simple, Medium, and Rich
- App Integration — social sharing, messaging / chat features
- Access control — Email-id, social media, use of OTP via the contact number
- Basic features — news feed/activity feed, rating/review, user profile, image manipulation, barcode / QR code
- Advanced features — Geolocation, data synchronization, reservation calendar, a camera integrated into the application, push notification.
- External functionality — OTP read, call or message in the app, secure data travel, connect to third-party API
- Admin Panel — User control, usage analysis, intercom support, cash report, reports
- Payment wallet — added bank details, discount/reward features, UPI link, and many more.
- FuGenx provided a graph to estimate the cost of developing an e-wallet application:
- UX / UI design (40–60hrs $ 1500 — $ 3000)
- Technical documentation (about 50 hours, — $ 1500 to $ 2000)
- Front-end and back-end development (500 hours — $ 10,000 to $ 20,000)
- Test (70 hours approximately $ 2000 — $ 6000)
- It may also vary depending on geolocation
- India: $ 20 to $ 60 per hour
Depending on our model and the features mentioned above, the cost of developing an e-wallet app like Paytm can be between $ 15,000 and $ 50,000 and may fluctuate with other list of apps development companies Bangalore
If you are looking for a mobile app development in bangalore. FuGenx is one of the mobile app development companies in bangalore developers to develop your business innovative ideas into practical applications, we have a high level of designers and developers to 100% customer satisfaction.
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