The fact that Ecommerce is as big as the industrial revolution can be verified by looking at two of the most revolutionary companies in two different corners of the world and their industries of operations: Amazon and Alibaba. Both the companies have managed to make several billion dollars in market cap and are now counted as the biggest influencers in the world. They and many companies like them have given way to a specific category in payments – Mobile wallets leveraging mobile wallet app development technology offering seamless digital payment solutions.
Mobile wallets came into rise after PayPal disrupted the payments industry. The growth in global smartphone production and increases availability of internet infrastructure has only fuelled this growth. The result is now that from the sophisticated financial markets of New York to the developing markets of Mumbai, the most revolutionary companies in fintech are mobile wallet app solutions providers. Let’s Nurture is a leading mobile wallet app development company providing digital payment solutions and integration to business applications.
| App Users | Registered Users | Admin Panel |
|---|---|---|
| Basic Features | Registration/Sign Up/ Sign In | Login |
| User Profile | Manage (View/ Edit/ Disable) Users | |
| Wallet Details | User Wallet Management | |
| Add Money | Transactions Management | |
| Send Money | Filter Transactions | |
| Receive Money | Manage (Add/ Edit/ Delete) Payment Gateways | |
| Notification | Set Minimum/Maximum Transaction Amount | |
| Manage notifications/ cards/ bank account/ Paypal Account | Manage Push Notifications | |
| Cost of Mobile Wallet App Development | CAD 40000 To CAD 45000 for both iOS+Android | |
| App Users | Admin | |
|---|---|---|
| Add-on Features | Recharge and Bills | Verify User Document |
| Offers and Coupon Codes | Manage Recharge and Bills | |
| Scan and Pay with QR code | Manage Offers | |
| Payment Due Date Reminder | Dashboard Analytics | |
| Invite and Earn | Customer Analytics |
Based on our initial assessment, developing and deploying an app like this typically takes around 20-25 weeks.
Online transactions
Peer-to-peer money transfer
POS payments
Ongoing costs involved in running a classified ads platform like Kijiji will include:
Tokenization: The OTP is assigned to the user (registered mobile number) that represents the actual credit/ debit card number during the transaction. This number can only be detokenized by the respective service provider diminishing the chances of online theft to the minimum.
Point-to-point encryption: It ensures security is maintained during each transaction and interaction with a POS terminal is established in a secured fashion.
Mobile device identification: Pairing of a mobile wallet app and a mobile phone is done which implements another security layer during the transaction.
Cashback and loyalty rewards, timely reminders, enhanced security via fingerprint identification and face-id.
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