From shopping for festive occasions to paying your daily bills, performing it through a smartphone is nothing less than a blessing! Thanks to mobile wallet apps, people no longer have to hang around with their wallets full of credit cards and cash. One can easily buy, pay, or accept payments for anything on the go, with just a few clicks!
The last few years have seen a constant rise in digital payment systems. Thanks to the digital transformation, mobile wallets will be dominating the online payment market and are being increasingly preferred for quick and smart transactions. Also, it’s an easy way to get rid of the waiting time to pay bills or transfer money.
Following the popularity of digital wallets, many startups have built their app platforms in response to this growing demand. The success stories of several popular mobile wallets are a constant inspiration for companies and entrepreneurs to develop their own mobile wallets.
So, what are the features of a mobile wallet that make your customers satisfied, loyal, and help your company stand out?
- Instant Payments Between Wallets: This feature allows you to make or receive payments anytime and from anywhere. The funds will be immediately available for you that will help you increase the control of your personal and business funds.
- Bill Payments: This is one of the most crucial features as people today prefer to pay their bills online. Mobile wallets provide you an effortless bill payments solution – be it a prepaid or postpaid payment service.
- Payments To And From Your Bank Accounts: A mobile wallet gives you the ability to transfer money to any bank account, including your own accounts in the same bank. It also lets you transfer money to another person’s accounts in different banks as well.
- Privacy & Security: An e-wallet expects its users to store their card information and enter their passwords. Hence, the wallet must be capable of securing the users’ data. As a mobile wallet is always a soft target for hackers, a password-protected app with features like fingerprint, OTP, or QR code for proper authentication is necessary.
- Management of Card Operations: Digital wallets should have the ability to store a user’s credit/debit card data that is used to make money transactions at any time. A mobile wallet is safer than carrying all your cards with you as it does not store card numbers; instead, the card data is encrypted with high-grade security.
- Spending Analysis: Spending analysis is an additional tool to integrate into mobile wallets to enable its users to examine their spending. It supports users to plan their spending better and limit their investment wherever needed.
- An Interactive and Smooth UI Design: User Interface design plays a crucial role in user engagement. An engaging design can appeal to the user and promote interaction and popularity. UI design plays an active part in mobile app development as it makes sure the wallet app is user-friendly and easy-to-use.
GoFounders platform gives you access to its ONPASSIVE AI-driven mobile wallet tool that can ensure the success of your mobile wallet app. This tool can help you in multiple ways, where you can save money and keep the eWallet app development within your budget.
As more and more people today are shifting towards mobile payments, mobile wallets are increasingly becoming the most sought-after feature by businesses and customers alike. All the businesses must look forward to integrating a mobile wallet app in their business structure.