Paytm, A digital payments and commerce platform has made itself a strong Internet brand, mostly on the back of its digital wallet. Leading the cashless charge in the digital wallet industry, this app has increased its lead over its other mobile wallets (e.g. MobiKwik, Free charge and account-to-account money transfer apps (e.g. UPI). The increasing penchant of Mobile wallets has soon made it a compelling need towards cashless payments. Following which, many competitors have started reaping the rich benefits of this everlasting fad by developing similar kind of mobile wallet apps. If you’re among those and rummaging for a similar kind of mobile payment app development, here is a breakdown of some of the major factors which determine the cost of the app.
- 8 Weeks
- 5 Days/Weeks 40 Days
- 320 Hours 8 Hours/Day
UI and UX
App UI and UX Design
The biggest determinant of success is insane customer delight that generates word of
mouth. A good UX is what separates successful apps from unsuccessful ones and
plays a vital role in seeking a quick attention of users and keeping them engaged for a
longer time. Make sure, the app should be easy-to-use, no-brainer, and de-cluttered.
For this, if it hurts your pockets extra, it’s worthy enough.
App Platform (Android, iPhone)
The cost of building an app depends upon the platforms you want to get build. The
more platforms you wish to support, the more would be the app development charge.
Generally, Android App development costs more than iOS app. And taking into
account, there are more users of Android than iOS, we would prefer you to start with
Android app first.
App Features and Functionalities
The app cost remains dynamic just because of the app features. App development
cost increases with the complexities of the features involved. Here are the key features
that largely affect the costs.
- Sign-up/Login through email and mobile number with OTP.
- Create User profile with transaction history.
- User can add money to their Paytm Wallet using net banking, credit/debit cards.
- User can send money to other person/merchant’s Paytm wallet by scanning QR
codes or phone numbers.
- User can pay utility bills such as gas, water, landline, broadband and electricity bills.
- User can recharge mobile phones, DTH, data card, Metro, broadband on-the-go.
- Users can quickly pay utility bill, insurance, loan & education fee payment.
- Book tickets for movies, trains, buses, events, amusement parks, international
- eCommerce marketplace for almost everything.
- Coupon code, gift cards, offers, super value deals, cash back.
- User management
- Wallet management
- Digital payments module
- Coupon code, offers & cashback module
- Customer support & feedback module