How To Develop A Budget Friendly Mobile Wallet App Like Paytm

Digitization is marching towards building a cashless economy. Mobile wallet apps play a vital role in our daily life. The enormous reach of these mobile wallets has led business professionals to offer this cashless payment segment for customers. Almost all the sectors have adapted to this nature of the transaction.

Mobile wallet is a kind of ecommerce platform that is supported on smartphones. These mobile wallets make monetary transactions easy with just a click. Moreover, mobile wallets have become a financial medium for people to transact their money. The transactions take place in a fraction of the time. It has become easy for people to carry out their transactions. Now, it has also become a hygienic way of processing transactions as there are no human contacts involved in it. Some of the pioneers in mobile wallets are G-pay, Paytm, Amazon pay, Citrus pay, etc., These apps have gained many users because of their salient features.

If you are an entrepreneur luring to develop an alternative app for Paytm? This blog is for you. This blog will deal with the steps to develop a Paytm clone app. Before developing a cloned script for your app, it is essential to understand the prospects of Paytm.

Paytm has become one of the largest online recharge companies. Initially, it began its services by offering mobile recharge services. Later on, its wings were spread to the Online shopping market with similar kinds of products like Snapdeal, Flipkart, etc., Now, Paytm is a one-stop portal for the users as they can get all types of services in a single go. Along with online recharges, it also offers Cash transactions and other utility bill payment services.

Here, are the features that are to be incorporated in developing a Paytm clone application,

Prominent features to be incorporated in developing a mobile wallet application

• Easy access:

The success of an app lies in its easy accessibility. The users should be able to use the app with great flow. The usage of the app starts with the registration process. The users can create their user ID and password. They can either sign through their email id or through their social media account.

• Load money to your account easily:

The users can easily add money to their account through Debit or credit card or using the net banking option.

• Uses:

Paytm makes the payment easy. The users can make payments from mobile recharges to utility payments. You can use Paytm right from paying your shopping bills to booking tickets with bus operators. This mobile wallet helps to carry out transactions with vendors effectively without any cash transactions.

• Splitting bills:

Through the Paytm clone app the users can generate a link among their friends and relatives for splitting the money. Each one of the users will get their share amount mentioned in the link. The users can make their payments through the same link.

• Automatic payment option:

The users can set a date and amount in the app. The amount will be paid automatically to the beneficiary on the date as fixed in the app.

• Promotion and offers:

Promos and incentive codes are offered for regular users. Through these promotions and offers the users can get cashback, discounts, offers, and freebies.

How much will it cost to develop an app like Paytm?

Developing an app is a tedious process as it involves many complex stages. App development surely involves some monetary funds. But, the entrepreneurs should understand what it involves to develop an app. The factors that influence the cost of the app development are:

• App platform
• Design of the app
• Size of the app
• App team
• App interaction
• Digital wallet
• Considering the advanced features
• Admin panel
• Other options like chatting/texting

Based on these factors, the development cost is analyzed. These factors are nothing but those that are developed and incorporated within the app for the customer’s use. Considering all these factors, the cost required for developing an app is minimal. With app developers available in vast numbers, it takes only a small amount to develop an app.

Summing up,

Developing an app is a one-time investment made by entrepreneurs. So be careful with the team of developers you choose for the product. Reach out to our expert team and share your ideas that you want to reflect in your app. Appdupe will craft you a tailor-made mobile wallet app that is scalable and reliable.