Presently, every country is moving towards digitization to build a cashless economy. Nobody wants to pay with cash when shopping in shops, restaurants, and many more places. This gives birth to the emergence of mobile wallet applications. These mobile wallets aim to help users to transact money with ease enormously.
Any leading Ecommerce website development company in Dubai or anywhere around the world will have expertise to develop apps like these.
Paytm mobile recharge app is the most accessible and widely used mobile wallet apps being used presently. Do you want the development cost of an eCommerce payment app like Paytm? Then sit tight and follow the in-depth analysis about developing an app like Paytm and the cost involved for the complete development process.
What is Paytm?
Paytm (Pay Through Mobile) is the leading online recharge company in India that One97 Communications own. Its mobile app technology is available on iOS, Android, and Windows smartphones.
The goal of mobile wallets like Paytm is to increase brand management and mobile payment with consumers.
How Does Paytm Work?
You can either use the Paytm mobile application as a payment bank or as a mobile wallet. Paytm users will, first of all, add money to their mobile wallets through online banking, debit card, credit card, and other banking partners. After which, they can use it to pay any bills such as electricity, recharge, shopping bills, etc.
Main Features of Paytm App
Before calculating the development cost of making an app like Paytm, app developers will consider several main features and functionalities. Here they are:
Features #1: User Panel
This section includes but not limited to User Registration, Bank account linking, adding money to the account, Fund transfer and receive, e-Wallet passbook, and choose the preferred language.
Features #2: Admin Panel
This section entails Dashboard, User profile management, new offers releases, Real-time analytics & reporting, Add/Block features, and Push notifications.
Features #3: Additional Features
Apart from the aforementioned essential functions of Paytm, it also includes features such as Digital receipt, Booking Calendar, Cloud operations, and so on.
Factors affecting Paytm like app development cost
Apart from the features that should be integrated into the Paytm clone app, we’ll discuss the significant factors that impact the e-wallet app development cost. These include:
Factors #1: App Platform (Android, iOS, or Windows)
The most important one must consider the development platform. There is a massive difference between the platforms in terms of the Paytm app design cost.
Factors #2: App Design
A unique app design will help to engage and retain customers. With an appealing and user-friendly design, you’ll get repeated customers. This will be made possible with the effective use of advanced technologies and tools, which means increased cost.
Factors #3: App Size
The cost of making an app is dependant on how big an app is. You can reduce cost by giving preference to only core features.
Factors #4: App Team
An experienced team is needed to create an app like Paytm. It would be best if you had a Project manager, Requirement Analyst, Developers, Mobile App developers, and so on.
From those mentioned above, you can see that the cost of developing an eCommerce payment app like Paytm is based on the features and the factors discussed above. However, you should note that it takes around 2-3 months to develop a full-fledged mobile app.
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