Digital transactions are the next big breakthrough in the technology arena. In fact, apps like Apple Pay or Google Pay will grow twice between 2020 to 2025.
The global mobile wallet solutions market is projected to grow at a CAGR of 27.38% from 2020 to 2027.
On top of it, PayPal-like eWallet apps are making a whopping revenue of $17.772 billion.
So, all in all, eWallet app development is a very profitable business venture today. For that, all you need to do is hire eWallet app developers and get your custom eWallet app ready.
Now, before you plan your eWallet app development, let’s first make your mobile wallet development budget. That’s because pre-budget planning will help drive maximum ROI and make higher profits.
In this post, you will learn exactly how much it will cost you to custom develop an eWallet app in 2022. So, let’s not prolong any longer and develop your eWallet app now.
EWallet App Development Cost in 2022
At Arthonsys, we often receive queries about how much it costs to develop a custom mobile wallet app? And, our answer is always the same—
It depends on you!
Yes, it completely depends upon you how much you have to pay for an eWallet app development. It depends upon your app features, development team, and many other factors.
So, to predict an exact mobile wallet solution development cost, you have to answer the following questions:
Which App Development Platform Do You Want to Use?
Foremost, the eWallet app development cost depends upon the app development platform you have selected — Android, iOS, or hybrid.
For Android eWallet app development, you need to hire developers who know Java or Kotlin. Usually, Android developers charge between $20,000-$150,000.
For iOS eWallet apps, you require Swift proficient eWallet mobile app developers that can cost around $25,000-150,000.
If you want to develop hybrid eWallet apps, hire an eWallet app development service agency with competent iOS and Android developers. Plus, it goes without saying that hybrid app development will cost you more than single platform app development.
How Complicated Your Project Is?
The level of complexities that you want to incorporate into your eWallet app also determines its cost. That’s because to create a powerful feature-rich app; you have to hire experienced eWallet app developers.
For example, if you want to embed blockchain security features to your mobile wallet app, you have to hire a blockchain developer along with a regular app developer.
In the USA, blockchain developers have an average salary of $140,000 per year or $71.79 per hour. In fact, an entry-level blockchain developer makes $121,875 per year.
From Where You Want to Hire eWallet App Development Services?
Besides the developers’ experience level, their location also determines the app development cost.
If we further expand blockchain developer salary profile in the USA, you can see in every area, developers are charging different figures, such as:
Massachusetts – $160,000
California – $146,875
New York – $140,000
New Jersey – $120,000
Since remote mobile app development is very trending these days, if you look at the salary profile of eWallet developers worldwide, you can also see great variations.
Suppose you want to develop an Android-based mobile wallet solution. In that case, hiring eWallet app development services from different locations will cost you different, for instance—
- The average salary for an Android developer is $117,040 per year in the US.
- If you move a little further to India, the average Android developer will charge around $617,811 per year.
- Here if you hire Android developers from Ukraine, you only have to pay $32,500 per year.
Overall, the location from where you hire eWallet app developers plays a significant role in your mobile app development cost.
How Do You Want to Design Your App?
The mobile app’s user interface is a very crucial element. It decides how easily users can interact with the app.
Usually, eWallet apps have three UI structures — User Panel, Merchant Panel, and Admin Panel. Further, these interfaces have multiple other pages like login, manage profile, customers, analysis, and more.
So, the number of graphics and pages you have on your eWallet app will also determine your app design cost. Additionally, if you want to create your app’s prototype to share with stakeholders, this will further increase your app development cost.
How Big or Small is Your App?
The size of your app also determines the development cost. If your app is smaller with fewer pages and features, it will cost you relatively less than the bigger app.
Related Post:- eWallet App Development: Expectation vs. Reality
How Large Development Team You Want?
Developing an eWallet app isn’t a one-person job. It requires a full-fledged team to create an app, including designers, developers, business analysts, QA developers, and more.
So, here you should hire a comprehensive eWallet app development service team to save money like Arthonsys. That’s because hiring all the app development team members individually will cost you more. Since agencies already have a complete team, you use their expertise by paying a lump sum amount.
Which Tech Stack Do You Want to Pick?
To develop an eWallet app, you required numerous different technologies support, for example—
Frontend development – Swift, Java, CSS, Bootstrap
Database – MonogoDB, Cassandra, HBase, PostGreSQL, MySQL
The development cost using all these different technologies will also vary based on the technical and proficiency level.
How Much Does It Exactly Cost to Develop an EWallet App?
Once you determine which platform, technology, size, or type of eWallet you want to develop, you can easily know your exact app development cost. Here your eWallet app development service provider can further help you reduce your development cost.
At Arthonsys, we always try to provide maximum ROI to our clients. Thus, we are capable of accomplishing eWallet app development within your budget. Contact us today to know how you can develop a custom eWallet app at affordable rates.