In the current scenario, the usage of payment apps has increased widely. Whether it is a bank or a financial company, everyone is using the payments apps for making the transaction process easy for the customers. Even, people are also preferring the payment apps like Paytm, eWallets, etc., as they can easily make their payments online, according to their comfort. Consider the opportunities with payment apps, many companies has come up with their payments app. If you also planning to develop a payment app like Paytm, then here are some points that help you to do some groundwork before developing your app.
1. Security: When it comes to the security, all digital wallets uses a strong encryption technology. But considering all the digital wallets safe and secure is not a good idea. As data protection and privacy are the main concerns for businesses and consumers both, it is necessary that you use the effective and secure encryption technology for your app.
2. Payment Status Intimation: Money matters a lot for everyone. So while making the transaction, if users stuck anywhere, they expect to get instruction for it. Either their payment is successful or not or canceled, let them know the transaction status immediately, else it will create a doubtful impression. So make sure that it won’t happen.
3. Simplicity: Simplicity is the main component of any digital payment. If users have to follow repetitive and difficult steps to make their online payment, they do not use your app again. So try to keep your app simple and hassle-free. Ensure that users should not have any problem while making payments or navigating between the pages. Moreover, if you offering the facility to pay off utility bills or for selling a wide range of product on the same app, then keep it separate from the wallet interface.
4. Digital Coupons: According to the research, the total number of redeemed discount coupons through mobile devices is increased immensely. Digital wallets provide a better method to people, to carry and redeem coupons. Also, it allows merchants to match the coupons directly with the specific card issuers or target customer segments. This facility of scanning the digital coupons has added more value to digital wallets.
5. Location Based Services: With this feature, the users can easily find the nearby stores that accept the wallet payment. With such information, the users can quickly reach to the store, buy the products and make payment for it. Even, they can call the store person before reaching there, as well as obtain the correct distance information from the user location to the store.
For building a successful wallet, a good idea is just not enough. For that, you need efforts, latest technology, attractive elements and much more. So, for building a perfect app, it is really important that you hire a leading mobile app development company for it. As they are professionals, they can easily develop a high-quality app with all the features and functionality.