When we talk about the FinTech industry, digital wallet apps are rapidly increasing. Faster checkout and seamless transactions are some benefits of using the e-wallet app.
According to Statista, the global wallet market will rise to 2.1 trillion by 2023. The mobile wallet market is expected to grow from $1043 billion to $7580 billion by 2027.
It is the right time when you can develop a digital wallet app for your business. Are you confused about the must-have features in a digital wallet app?
This post will explain you about the must-have features in a digital wallet app in 2022.
Key Features Of Digital Wallet Mobile App Development In 2022
Some of the key features that you should integrate through the digital wallet app development process are:
1) Faster Self-Registration
Mobile wallet has come into existence as it is providing users with a seamless transaction. To start with this, the digital wallet app should integrate a faster self-registration process.
When any user is using your app after installation, the following things should be included:
i) Basic Details (Name, DOB, Address, etc.)
ii) Linking your card
iii) Setting up password
iv) Enabling GPS location
v) Confirm your account by KYC and OTP registration.
Completing all these tasks will help you for a quicker registration, and you can enjoy using the app.
2) Payment Through Contactless Technology
Adding contactless technology to your app in today’s market is extremely needed. Technologies like QR Code or NFC etc. are becoming common among businesses.
Thus, it becomes important to add contactless technology to the digital wallet app you are developing for your business.
3) Make Bill Payments
If you plan to develop a digital wallet app, you must add features of paying multiple bill payments.
There are many digital wallets app available in the market that gives user a feature to pay their bills. Users should pay their rent, electricity bills, credit card bills, etc.
Adding many features like this will help you to keep your customers, and you can gain new customers as well.
4) Analytics-based Dashboard
This is one of the important and impressive features that you can add in the digital wallet app. Adding these features to the app will help your user to track their financial transaction.
They can compare their spending and savings and find out the amount they have spent in a month.
Thus, to give your user live tracking of their money, you can implement this feature by your digital wallet development company.
A chatbot is a new technology that can be implemented in the digital mobile wallet app. This will help your customers to interact with it by asking general queries. In return, a chatbot will answer all your queries.
6) Privacy & Security
Whether you are developing a digital wallet app or any other app, if you are not adding security and privacy to the app, no users would like to use it.
No user will want to give their crucial details in the app, which is unsecure. Integrate all the necessary security features to make the app safe from unauthorized access.
Undoubtedly, there is a huge growth in the Fintech industry. 21st century can be the best time when you can create your digital wallet app for your business. Connect with the app development company and discuss the development process further.
Read more: How To Hire A Mobile App Development Company In The USA?
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