For people, this has been convenient because they don't have to carry cash or bags around. The introduction of digital Wallet development has made it even easier, as users can now use their devices to make payments. People can now carry unlimited funds and transfer them anytime from anywhere.
Payments made through mobile devices and P2P are driving the growth of international mobile payment services on a global scale. The number of people using this payment method worldwide in 2019 was 901 million. It is estimated that the number of users will reach 1.5 billion by 2021, an increase of 11% year-over-year.
Workflow Of Mobile Wallet
Registration
Users undergo a quick registration process by submitting their details and connect the app with their bank account.
Send/Receive funds
Upon successful registration, users can send and receive unlimited funds swiftly.
Recharging/ Bill payments
With the digital wallet app, users can recharge their mobile phones, pay utility bills, and other such necessary transactions with ease.
Push Notification
Users can instantly be notified about any activity happening in the app, like transaction updates, rewards, promotions, and many more.
On A Concluding Note,
Taking convenience and safety into account, it is sure that digital wallet development is inevitable. Get in touch with a mobile wallet development company and develop a robust e-wallet app right away and come out with flying colors.
