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How to Make a Mobile Wallet App?

The mobile payment industry is on the rise. They offer an innovative and more convenient way for making payments. Learn How to make a Mobile app.

Анаит Казарян

Aug 26, 2021

The mobile payment industry is on the rise.

According to statistics, the market will go through rapid growth in the years to come.

In 2019, over 950 million users relied on mobile payments. In 2023, the number of mobile payment transaction users will reach 1.31 billion.

Mobile wallets are digital wallets that store payment card information on mobile devices. They offer an innovative and more convenient way for making payments. Users don't need to have their payment cards on them all the time to purchase something in stores. All they need is their smartphone connected to the internet.

As a part of learning how to make a mobile wallet app, let's find inspiration by looking at some of the best mobile wallet apps on market.

Google Pay

Apple Wallet

PayPal One Touch

AliPay

KEY BENEFITS THAT MOBILE WALLET APPLICATIONS CAN BRING

Such applications can deliver a number of benefits to businesses from every industry.

Accessibility

Mobile wallets allow making day-to-day transactions without carrying around physical cards. All they need is an app on their smartphone and a user ID.

Access to money from mobile

Users can start making mobile payments in no time. Users need to connect their cards to the digital wallet and make payments right from their smartphones.

Variety of use cases

Mobile wallets can be used for a range of uses. Users can pay for purchases, buy tickets, pay for online services and much more.

Bills splitting

Depending on where you are using the wallet app, you can add the functionality allowing users to split the bill and send a link to users who needs to pay them money.

Automatic payments

You can add the ability to set up automatic payments within your app so users won't forget about them because of the hectic everyday life.

Promotions & discounts

Digital wallets usually offer different promotions and discounts. You can reward users for buying at partners' locations, for making a certain number of payments every month, etc.

TYPES OF MOBILE WALLET APPS

Generally speaking, mobile device wallet apps differ based on the type of payment processing.

Explore some of the most popular types of digital wallets:

Wallets that use mobile communication provider to send and receive money

Wallets that write off funds from banking accounts, cards or mobile services using SMS messages with a shortcode

Wallets that make mobile web payments

Wallets that use near field communication (NFC) built into smartphones for contactless interactions with payment terminals.

According to another definition, mobile wallet apps can be divided into three following types:

Closed – mobile wallets that can be used with only one merchant.

Semi-closed – wallets that can be used with many supported merchants.

Open – mobile wallets that can be used with any merchants and provide access to multiple bank accounts.

Depending on the purpose of development, you might create an app that will combine a few of the technologies, allowing both mobile and NFC payments.

You can't know how to make a mobile wallet app without understanding what technology such applications do.

Usually, mobile wallet apps use one or a combination of the following data transfer technologies:

Bluetooth and iBeacon technologies

QR codes

MOBILE WALLET APP DEVELOPMENT: SERVICES & PROCESSES

The development of wallets for mobile devices is a process comprising different steps. Usually, development is divided into discovery and development stages.

1. DISCOVERY STAGE

The discovery stage is an essential part of app development. During this process, companies identify their business needs, identify them with technical requirements and match them with technologies available on the market.

2. DEVELOPMENT STAGE

During the development stage, the coding itself happens. Developers create the code base of your application, integrate it with third-party solutions, and implement custom features.

The development stage is traditionally divided between a number of phrases:

Coding – code base creation, integration with SDKs, APIs, etc.

QA & Testing – thorough application testing to identify any bugs that might interfere with the app's use.

Deployment – release of the developed app to the market.

Ongoing development & Support – working on further app iterations, the addition of new features and platform support.

Anticipating The End Of Your First Semester, As Told By April Ludgate

"I don't want to do things. I want to not do things."

National Writers Society

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NBC Universal

Everyone who is in college right now, or has ever been, knows the struggle of pulling in the strings at the last second. It seems impossible, and you have to do a LOT of things in order to assure your future for the next semester.

April Ludgate, historically, is a very annoyed person, and she doesn't hide it. Of all the times that I binged and re-binged "Parks and Rec," her attitude relates more and more to me.

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april ludgate

Health and Wellness

To The Cheerful Person On Their Rainy Days, You Are Valid

The world is not always sunshine and rainbows, and you do not have to be, either.

University of Florida

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Photo by Matthew Henry on Unsplash

Ask friends of mine to name a quality about me, and one a lot them will point out the fact that I am almost always smiling. I like to laugh and smile -- not to quote Buddy the Elf in April, but smiling is my favorite! It is probably my favorite go-to expression. However, what a lot of people do not see is that I have my down days. I have days when smiling and laughing is a real struggle, or when I have so much on my plate that going out of my way to behappy takes more effort than I have stored in me. Be it a symptom of college and growing up or a facet of life, I cannot always be content.

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Recommended for you

How to Make a Mobile Wallet App?

The mobile payment industry is on the rise. They offer an innovative and more convenient way for making payments. Learn How to make a Mobile app.

KEY BENEFITS THAT MOBILE WALLET APPLICATIONS CAN BRING

TYPES OF MOBILE WALLET APPS

MOBILE WALLET APP DEVELOPMENT: SERVICES & PROCESSES

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"I don't want to do things. I want to not do things."

1. When you look at the syllabus and realize there are only three weeks of the semester left; even though the first day was LITERALLY yesterday.

2. You look at your grades and realize they probably aren't as high as they should be, which is a terrifying realization.

3. When you think to yourself at night, "tomorrow, I will wake up early and go to the library ALL day, and, hell, maybe after I'll go to the gym for a little bit, just to push myself that extra mile."

4. Tomorrow actually comes. The inevitable and overpowering sense of procrastination is too strong to overcome.

5. But you DO end up going to the library. Not all day though, but still, a while. But no, you do not go to the gym. Still, you made an effort, so you decide to treat yo' self.

6. When you realize you need to schedule a meeting with your adviser because you need to sign up for classes next semester. But you also realize that since you waited until the last minute, you're going to get stuck with all of the crappy classes.

7. When you low-key try to slip into conversation with your professors that you need extra credit because you're that desperate.

8. When it's already the third time you've seen your adviser in two days because you have no damn clue what you're doing and need all the help you can get.

9. When you apply for a job associated with your major even though you have no experience, but you just want to dive headfirst into the deep end of adulthood and get it over with.

The world is not always sunshine and rainbows, and you do not have to be, either.

It would be so much easier to just pay someone to do it for you

1. Figuring out when to start

2. Searching through list after list to get everything you need

3. Shopping for deals

4. Getting bins to put everything in

5. Figuring what you can’t live without

6. Going through clothes to find what you need

7. Finding out your siblings took something from you

8. Fighting with your parents.

9. Trying to plan things with your roommate

10. The fear of forgetting something

11. Move in day

Relatable moments from one of the best shows I have ever watched.

1. When you fail that midterm you studied so hard for.

2. When your crush finally texts back.

3. When payday comes around.

4. When you accidentally like someone's picture from 108 weeks ago.

5. When someone takes your unassigned assigned seat.

6. When your favorite character in your favorite TV series dies.

7. When that guy/girl you’ve been crushing on agrees to go on a date with you.

8. When you have so much to do, and such little motivation to do it.

9. When someone asks for your last fry.

10. When you try a new health-food craze.

11. When you get new clothing.

12. When you check your bank account.

13. When they're serving good food in the dining hall.

14. When someone tries to tell you what to do.

15. Or just your thoughts about life in general.

We all have that "I don't care" attitude.

1. Most students just take life day by day.

2. That means procrastinating, one day at a time.

3. College students don't mind dressing like crap sometimes.

4. In fact, dressing nice feels weird.

5. College students get so stressed that they contemplate dropping on a daily basis.

6. But most find another solution to deal with that stress.

7. And that solution can be pretty cheap. Anything over $5 is expensive.

8. One of the only things college students will spend money on is coffee.

9. College is just really expensive and you never forget how expensive it is.

10. But hey, we're getting a somewhat high-quality education, right?

11. We all really just want to pet dogs all day.

12. And eat pizza for every meal.

13. And stab the next person who asks us what we want to do with our life.

14. However, despite the stress and student loans, college is amazing and there's plenty of reasons to smile.

Thank you, April, for inspiring us with your wicked relatability.

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