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How to Quickly Build an E-Wallet App Like Google Pay



May 10, 2022


May 10, 2022

Summary: In the last few years, the apps like Google Pay and PayPal are making hits in the digital payment market. But do you know the reason behind their popularity and why tech giants are investing in online payment technologies?

This article will help you to find the answer to the above questions and learn more about the E-Wallet application features, its advantages, market size, tech stack, and how you can quickly build an app like Google Pay.

We live in an age that demands advanced financial services. It enables users to conduct transactions while on the go. Furthermore, such apps can be the gold mine for financial companies due to their high potential to attract customers and gain their loyalty. 

Therefore this is the right time for financial organizations and other related companies to start investing in online payment apps like Google Pay. 

So, let's start with an overview of the E-Wallet application.

An e-wallet application: How does it work?


An E-wallet is a way to carry cash in the digital format that has replaced cash and cards in the last few years. It is a more convenient, secure, and fastest way to perform transactions, pay bills and view transaction details using smartphones, tablets, and smartwatches. 

It has become a comprehensive solution for all payment needs. With such technical advancements, customers do not need to take a risk of carrying physical cash or card while making a payment. 

Advantages of E-Wallet App 

What do you think, why E-Wallet apps like Paytm, Freecharge, PayPal, Mobikwik, and Google Pay are dominating the digital payment market? 

Why do most of the banks have personalized e-Wallets such as Axis Bank Lime, ICICI Pockets, SBI Buddy, etc? 

The answer is hidden in the convenience and security it provides for making cashless payments. Here are a few advantages of E-Wallet Applications.

1. Cashless transactions

With the E-Wallet app, there is no need to carry debit/credit cards or cash while traveling. All you need to do is tap your device to make a payment or scan a QR code to pay for items you are purchasing. 

2. Highly Secure

In the case of cash, if you lost it there is a negligible chance to get it back. If you lose your credit or debit card, you will need to contact every lender to block the card and issue a new one. 

While in the case of E-Wallet personal information such as pins, passwords, and biometrics is locked inside the third-party provider, and even if you lose your device you can still make access when you get the new device. 

3. Can be used in multiple stores and online transactions

E-Wallet is widely accepted in most places such as retail shops, hotels, travel booking sites, and other online transactions. The number of retailers that provide payment access this way continues to grow each year. 

4. Authorized Transactions

For payment processing, you need to enter a PIN to allow payment for devices. For devices with biometric authentication, fingerprint authentication is required to proceed with payments. Authorization provides security against online fraudulent purchases and identity theft. 

There are other advantages of E-Wallet applications such as Exciting Rewards, Budget planning, and Quick Fund transfer.  

To better understand why it’s a smart decision to build an E-wallet app like Google pay, let’s have a look at its market size. 

E-Wallet app market size and revenue

According to Statista, the use of E-Wallet apps like Google pay and Apple pay in North America is believed to double between 2020 to 2025. Also, Asia’s market size is significantly larger than North America, Latin America, Europe, and the Rest of the world.

The market size of mobile wallet transactions in various regions worldwide in 2020 with forecasts from 2021 to 2025

Further, in the report published in EinPresswire, it is estimated that mobile wallets will generate Revenue of $7,580 Billion by 2027 with a Growth rate of 28.2%.

Moreover, half of the world’s population uses smartphones, and 3.8 billion people worldwide have access to bank accounts. For Financial institutes, it’s the fastest way to increase their customer base through mobile payment apps.

These figures will give you a clear idea about why to create an E-Wallet application like Google Pay. 

Therefore, it’s the right time to invest in or create a Mobile E-Wallet app like Google Pay. 

Key Features for creating an E-Wallet app like Google Pay

Any digital payment application will have a certain set of features for making payment easy, faster, and more convenient. 

Here are the key features of the E-Wallet application you must need to include in your app.

1. Intuitive and smooth  UI

The user interface(UI) should be user-friendly and easy to navigate so that customers can smoothly complete their payments. 

2. Seamless transaction, user registration, and login

E-Wallet must ensure seamless account creation, secure login, and transactions. Users can complete their transactions in a few clicks. 

3. Quick Fund Transfer, check account balance, transaction history 

E-Wallet makes money transfers faster and easy. You can transfer money anywhere anytime. Also, you can securely check your account balance and transaction history on click.

4. Add accounts

You can link single or multiple bank accounts to your E-Wallet app if you have the same mobile number registered with the accounts. 

5. Make Recharge, bill Payments

You can make mobile recharge, utility bill payments, and get rewards and cashback on them. 

6. Real-time data synchronization 

E-Wallet provides you with real-time data synchronization avoiding discrepancy of account balance after each transaction. 

7. Privacy and security

When it comes to financial apps, security is the prime concern. Most of the apps provide authorization through OTP, QR codes, or biometric information to make transactions more secure.  

Other than the above features you can add Gift cards, Membership cards, GPS tracker and navigation, Reward offers, integrated geotags, and wearable device integration.

Tech stack for developing an E-Wallet app like Google pay

Before building an app like Google pay you must choose a tech stack to start your actual development. Here is the tech stack used for developing the Google pay application. Now you will get an idea about choosing a tech stack for your E-Wallet app.

  • Programming languages: Python, Java, javascript
  • UI technologies: Google Material Design, Preact
  • Utilities: Google Analytics
  • DevOps technologies: Kubernetes, Android Studio
  • Collaboration and Sharing: GitHub, GitLab, 

Recently, Google picked Flutter to drive its global product development by focusing on the fast and efficient development environment, which is advanced and intuitive and has the flexibility needed to keep UI clean. 

Moreover, it must be able to work on both Android and iOS, with write once and deploy anywhere capability. 

Flutter has the following three things that make it a better choice for Google Pay. 

  1. Flutter uses Dart programming languages which allows writing once deployed anywhere both on Android and iOS.
  2. Flutter Hot Reload feature with Just-in-Time compiler enables rapid UI interactions increasing developers’ efficiency. 
  3. Ahead-of-Time compilation ensures high-performance deployment

Without Flutter it was difficult to scale the Google Pay app for different platforms. 

Now you have the details about the E-Wallet app market, its advantages, key features, and Tech stack. However, building an application isn’t a cakewalk, it takes a lot of time and effort. 

But what if you can minimize the development time and effort required to build an app like Google Pay?

DhiWise can make it possible!

Accelerate E-Wallet app development with ‘DhiWise Flutter Builder’

DhiWise is a ProCode platform designed and developed to empower developers, it speeds up app development by minimizing repetitive tasks. 

The platform supports modern technologies such as React, Node, Kotlin, Swift, Laravel, and Flutter.

If you are searching for a platform to quickly develop your E-Wallet application with Flutter or other technologies, DhiWise is here for you.

DhiWise Flutter app builder provides the following features to accelerate your development process even if you are starting from scratch.

  • Figma design to Flutter code conversion (Figma, Sketch, XD to Flutter code)
  • API integration and customization
  • User interface customization 
  • Simplified state management with GetX
  • Generates clean code
  • Integration with GitHub and GitLab
  • Social media authentication
  • Firebase  and Supabase integration
  • Ready-to-use design templates and screen library for every use case.

So if you are building an E-Wallet or mobile banking app with DhiWise you can use the following prebuilt templates. 

  1. Safebank mobile Banking App UI Kit
  2. First bank: Online Banking App UI Kit

Seems amazing, right?

Watch our youtube video to learn more about Flutter Builder.

👉 Introduction to DhiWise Flutter Builder.

Bottom line:

Building an E-Wallet app like Google Pay is the smartest decision for any financial institution or startup but you must ensure the best set of features, and tech stack before developing the app. 

Not only that, for a successful application it’s crucial to build and take the app early to the market as it helps you to get early feedback for faster product development. 

DhiWise is a simple platform with powerful features that can make your app development work done in weeks rather than in months. 

Know more about the platform, explore DhiWise, and sign up to start building your next app.