Ultimate Guide to Digital Wallet App Development in 2022

WE IDEATE. INNOVATE AND CREATE.

Ultimate Guide to Digital Wallet App Development in 2022

WE IDEATE. INNOVATE AND CREATE.

What is a Digital Wallet?

A digital wallet enables electronic transactions. These applications provide the ability to store funds, make transactions, and track payment history.

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Types of Digital Wallet 1.Closed Wallet They are developed for a particular store, app, or website.

Example: Starbucks.

2. Semi-Closed Wallet Companies can integrate the eWallet with the partnership of digital wallet companies.

Example: Apple Pay. 3. Open Wallet They are developed with the partnership of Banks.

Example: Paypal.

Starbucks

Apple Pay

Paypal

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4. Cryptocurrency Wallet These wallets allow you to store and transfer cryptocurrencies.

Example: Binance.

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5. IoT Wallet IoT (Internet of Things) enables eWallets on wearable devices.

Example: Fitbit Pay.

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Key Features to Include in Digital Wallet App User Panel Features Signup via Social Login User authentication via pin, pattern, and Face ID Add authorized bank account Check account balance Transfer money via contact number or QR code scanner

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Pay bills and set a bill payment reminder View transaction history Multi-currency & multi-language support Chat support Push notifications Times Neue Roman

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Merchant Panel Features Log in to an interactive dashboard Add/manage products Create/edit profile Account verification via pin, pattern, and Face ID Manage customers Add promotional offers & discounts Offer loyalty points and rewards Manage staff and employees POS integration Payment link generation

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Admin Panel Features QR code generation Manage users & merchants/vendors Real-time analytics Enhance the app’s security Reporting & auditing User and merchant data control Transaction management App support and maintenance Dashboard management Manage offers

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Top 6 Popular Digital Wallet Apps for Online Transaction 1.Apple Pay User Base: 507 million users (in 2020) Rating: 4.5 2. Google Pay User Base: 220+ million users Rating: 4.4 (Play Store) 3. PayPal User Base: 426 million (in 2021) Rating: 4.5 (App Store)

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4.Amazon Pay User Base: 300+ million active users Rating: 4.5 5.Trust Wallet User Base: 5 million active users Rating: 4.5 (Play Store) 6.Binance User Base: 28.6 million (in 2021) Rating: 4.0 (Play Store) Times Neue Roman

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Read more about Digital Wallet App Development on our website Times Neue Roman

www.sparxitsolutions.com

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