How Much Does it Cost to Develop Mobile Wallet App like PayTM

About PayTM:

Paytm (Pay through mobile) is one of the largest online recharge and shopping sites in India. Owned by One97 Communications, Paytm was started with offering online mobile recharge and later expanded to online shopping with similar kind of products sold by Flipkart, Amazon.com, and Snapdeal.

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Bus ticket booking and electricity bill payment are the latest service added, which has made Paytm an all-in-one portal. Paytm is available as mobile app on iOS, Android and Windows smartphones. There is a great demand for Paytm like app development in the app world, which has increased the cost of the kind of its app.

Paytm is linked directly to your bank accounts (its may be any bank in India) so that you can directly transfer or withdraw money from your bank account. As GOVT is made Fast tag compulsory, because of that is a new thing added in the Paytm i.e Paytm fastag, which helps to pay for tolls digitally from Paytm wallet without any involvement of a third party in it. Due to this Paytm fastag, you don’t have to wait in long queues at the toll booth.

Being a promising venture, Paytm got $575 million investment from Chinese e-commerce company Alibaba Group. Indian industrialist Ratan Tata also made personal investment in Paytm. Paytm is also a sponsor for all international and domestic bilateral cricket match series hosted by the BCCI. Today, Paytm is an inspiration for hundreds of young entrepreneurs.

There are many UPI payment apps like Paytm. Following is the list of similar apps like Paytm.

Google Pay
PhonePe
Mobikwik
Paypal
Bhim UPI
Amazon Pay

SMACware, a leading mobile app development company in Bangalore, India, has helped hundreds of inspired entrepreneurs to develop successful m-commerce (e-commerce) apps with innovative & secured features and futuristic solutions.

Key features of Mobile eWallet PayTM App?

Easy taps options to recharge mobile, DTH, and Data card, and to pay electricity bills, gas, metro, landline/broadband, education and insurance bills.
Easy shopping of mobile phones, home appliances, clothes, sports equipments, and stationery products
Book bus tickets, hotel rooms, music, movie, and TV shows
Easy payment options like credit card, debit card, net banking and Paytm Wallet
Paytm Wallet makes payment hassle-free and secure
Cashback offer on using the promo code

eWallet App Development Cost | Mobile Wallet App Development Cost | Cost to make App like PayTM

Also Read: Native vs. Cross Platform Mobile App Development: Which One Is Better?

If we want to develop any mobile wallet app like PayTM, it will be having mainly User panel and Admin panel, here are the feature list of USER and ADMIN Panel.

Here is a list of Featured which is offered for User Panel
User’s Panel Features:

Sign-up/Sign-in
User profile
Add money
Send money
Pay utility bills
Recharging
Pay phone bills
Booking tickets
Choose the language
Coupon code
Cashback
Pay school/college fee along with insurance premium
eCommerce marketplace (optional)
Pay landline, broadband and postpaid bills
Recharge mobile phones, data card, metro card and DTH
Banking account linking
eWallet Passbook
Bank to Bank transfer
Paying for Insurance
Flight, Bus & train reservation
Groceries & daily needs shopping
Order history

Admin Panel App Features:

Dashboard
User management
Wallet management
Digital payments module
Security enhancement
Realtime analytics
Add New users
CRM system
Wearable Integration
Virtual Card
Add/Block features
Coupon code & cashback module
Push notifications
Customer support and feedback module
App design, platform & App size

Backend Features:

Apart from the basic feature, a mobile wallet with advanced technology will boost the following features.

Backend allows to:

GPS modules for location search.
Wi-Fi or network data for real-time connectivity.
Push notification and reminders about offers.
Coupon codes
Loyalty programs especially offered by retailers.
Enable POS mobile wallet payments using NFC, iBeacon, and Bluetooth technology.
Authentication using fingerprint scanning.
A tool that allows a user to see how much are they spending on the app throughout the month.
Online payment receipts.
Merging eCommerce to mobile e-wallet applications such as Paytm Mall.

Also Read: How Much Does It Cost to Make an App?

Tech Stack Required to Develop an e-Wallet Mobile App

Here is a basic technology stack used for e-wallet mobile app like PayTM:

For SMS, Voice and Phone Verification: Nexmo
For Payment: Braintree, PayPal, PayUMoney, and Stripe
For front-end: Angular, Javascript, HTML5 and CSS
For database: HBase, MongoDB, Cassandra, and MailChimp Integrations
For cloud environment: Google Cloud, Salesforce, Azure and AWS
For push notifications: Push.IO, Twilio, Amazon SNS, Urban Airship
For data management: Datastax
For email management: Mandrill
For real-time analytics: Big Data, Hadoop, Spark, and Apache
For QR code scanning: ZBar Code reader

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How Much Does it Cost to Build an App like PayTM?

Cost of Paytm like app development depends on following major factors:

App platform (Android, iOS (iPhone), or Windows): Paytm like app’s development cost varies from platform to platform, but not much difference.
App design: It is very important for Paytm like app to have an engaging design. Engaging or user friendly design can bring repeated customers. Designing the engaging app needs the effective use of advanced technologies and tools, which can increase the cost, but worthy.
App size: App size means the total number of features and functionalities the app will have. The app size can be reduced by giving preference for only recharge feature in the version 1 of the app.
App developers: Paytm like app development charge can vary on the developers’ geographic location and experience.

Team Structure Required for Developing a Mobile Wallet App

If you are planning to develop mobile wallet app like PayTM, you should first understand the process, technologies and its development cost. This app development cost depends on the following services:

App developers
Front-end developers
Back-end developers
UX/UI designers
Quality Analyst
Business Analyst
Project Manager

Also Read: Choose Top Mobile App Development Companies in India to Avail with best Results

Cost of Developing a Mobile Wallet App like PayTM

The cost of developing a mobile wallet app like PayTM varies depending on the types of feature you want in it and type of platform you prefer. If you want to develop a basic app with features like user profile, bar codes, QR codes, image manipulation then the cost may vary from $6,000 to $12,000 and the cost to build an app like Paytm with advanced features like data syncing, push notifications, geolocations then it can be almost go for $20,000 to $30,000.

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Have a plan to develop a mobile wallet app like an PayTM? If you do, you are at right place. We at SMACware, a mobile app development company, are here to help you launch high security & superior quality iPhone and Android apps that will take your business to the next level.

If ready to go for Mobile app development for business to increase the revenue with e-Wallet app, then SMACware can help you integrate your business with the latest AI Technologies for your mobile apps. SMACware, which is the best mobile app development company that has helped many global companies increase their business revenue. Apart from app development SMACware also expertise in Mobile Game development, video production, Photography, corporate branding, Drupal web development, digital marketing, WordPress Website Development, PHP website development, WordPress Development, and web development services.

Posted on Jan 30, 2023 In Business, Development, Technology

How Much Does it Cost to Develop Mobile Wallet App like PayTM