Digital wallet apps have risen to the occasion, making transactions seamless and convenient in this fast-paced world. The elimination of wallets, coupled with the comfort of paying with just a few taps, has made the sector grow exponentially in recent years. Apps like Freecharge, Paytm, etc., have acted as a centralized hub, providing a wide range of payment services like mobile recharge, P2P fund transfers, digital bill payments, etc.
With the market for digital payment apps growing with a CAGR of 28.1% between 2020 and 2027, now is the time for emerging entrepreneurs to venture into the sector. Are you an entrepreneur aspiring to launch a Freecharge clone? If so, you need to know about multiple income-generating sources from the digital wallet app. They include,
Transaction fees: The mobile wallet app encompasses a wide range of services that customers can pay with just a few taps. This comfort comes with a price called transaction fees. This fee adds to your total income tally.
Subscription charges: Users expect frequent promo codes & discounts from your digital wallet platform. You can offer enticing benefits for those users who give up subscription charges either monthly/annually. This scenario is a win-win situation where customers enjoy premium features, and entrepreneurs gain consistent income.
The in-app ad charges: Although advertisements are quite annoying from a customer perspective, they provide a remunerative business opportunity for entrepreneurs. By displaying third-party ad banners on your site, you can levy ad charges from third-party vendors.
Summing up,
The thriving digital wallet app market expects new players as it is still in its nascent stages. Incorporate these revenue models in your Freecharge clone script and enjoy a steady income source from your digital wallet app.
