Nowadays, people cannot imagine their lives without a mobile phone. It has become a multifunctional device acting as a watch, means of communication and entertainment, a book, and quite recently a digital wallet, your entry gate into the world of finances. Checking card balances, paying a credit, taking a loan, and sending money to relatives and friends are now reachable at a click of a button. Although even 10 years ago you would have to go to your bank, make an appointment, probably wait in line, and sometimes once the service is requested even wait for a day or two for it to be fulfilled. Modern digital wallets could do magic: control your spending, send you notifications once you find yourself binge shopping, advice on investments, earn on the blockchain, etc.
Digital finances are a necessity, it is bringing manifold opportunities to people around the world regardless of their age, country of residence, and level of education. Equally important is to find the right partner to develop a digital wallet app. Let’s take a closer look at the top digital wallet app development companies disrupting the fintech market and bringing best-of-its-class mobile wallet solutions.
1. Itexus (US)
- Hourly Price: 25 – 49$/hr
- Rating: Clutch (4.9)
- Employees: 50 – 249
- Founded: 2013
- Min Project: $20,000+
Services provided:
Mobile Banking App Development, Fintech Consulting, eWallet Development, Trading Systems Development, Banking Process Automation, Fintech UX/UI Design, Banking-As-A-Service (BaaS).
About the company:
Itexus is a digital wallet company that always stays relevant to the newest trends in the sphere of digital finances. They are specializing in custom and boutique digital wallet development providing solutions with standard and one-of-a-kind features spiced up with outstanding mobile app design. The Itexus team has a vast experience in various fintech app development, which distinguish them as a company having exceptional control over the time and resources requested to build any type of fintech app. If we speak about digital wallet engineering, the average time spent by the team is around 5-6 months. In addition, Itexus provides team augmentation services and discovery phase-as-a-service, which is extremely valuable if you still don’t have a clear picture of what kind of product you want to receive. Itexus has massive expertise in the development of a highly secure solution with superior UX/UI, which is easy to navigate, highly discoverable, and offers user engagement promotion.
Tech Stack: Python, React, Postgresql, Plaid, Ruby, Node.js and more…
2. Moqod (Netherlands)
- Hourly Price: $50 – $99/hr
- Rating: Clutch (4.5)
- Employees: 50 – 249
- Founded: 2011
- Min Project: $25,000+
Services provided:
Custom Software Development, Mobile App Development, Web Development, UX/UI Design, Digital Transformation, Dedicated Development Teams.
About the company:
Moqod is a custom software development and consultancy firm known for its expertise in building bespoke IT systems. Established with the vision of tackling complex IT challenges, the company employs advanced technologies to deliver pioneering solutions.
Company specializes in mobile and web application development, digital transformation and automation of business processes. Moqod is notable for its innovative approach in developing smart city solutions, particularly in the Netherlands, where company has worked on projects that integrate IoT with urban infrastructure.
The firm is particularly strong in digital transformation and process automation, offering innovative solutions that help businesses streamline their operations and boost productivity. Moqod serves a wide array of industries, including transportation, logistics, healthcare and finance.
Tech Stack: Java, Swift, Kotlin, React Native, Python, Ruby on Rails, Angular, Node.js, AWS.
3. Josh Software (India)
- Hourly Price: $100 – $149/hr
- Rating: Clutch (4.7)
- Employees: 250 – 999
- Founded: 2007
- Min Project: $10,000+
Services provided:
Custom Software Development, Web Development, Mobile App Development, DevOps, AI & Machine Learning, Blockchain Development.
About the company:
Josh Software is a software development and consultancy firm celebrated for its prowess in developing tailored IT systems. Based in India, the company was founded with the objective of resolving intricate IT challenges by leveraging advanced technologies and innovative solutions.
The firm excels in Ruby on Rails and mobile development, delivering cutting-edge solutions that empower businesses to optimize their operations. They also offer cloud cost optimization and data analytics. Josh Software has a track record of delivering robust e-commerce platforms and scalable educational tools.
It is one of the few companies in India that has significant expertise in functional programming with Elixir and Erlang, making it a go-to choice for high-concurrency systems. Josh Software caters to a variety of industries, including education, e-commerce and healthcare.
Tech Stack: Ruby on Rails, React.js, Angular, Node.js, Python, PostgreSQL, Docker, Kubernetes.
4. Rare Crew (Slovakia)
- Hourly Price: $50 – $99/hr
- Rating: Clutch (4.9)
- Employees: 50 – 249
- Founded: 2011
- Min Project: $25,000+
Services provided:
Custom Software Development, Web Development, Mobile App Development, IT Consulting, Business Process Automation.
About the company:
Rare Crew offers a diverse range of business solutions to increase efficiency. Established to address complex IT challenges, the company utilizes state-of-the-art technologies.
Company focuses on enterprise software development, mobile applications and digital transformation. Rare Crew has a unique niche in developing software solutions for the entertainment and sports industries, with clients that include some of the biggest names in these fields.
The firm is highly skilled in enterprise software and mobile development, offering advanced solutions that help businesses enhance their operations. Rare Crew serves a wide range of industries, including media, entertainment and sports.
Tech Stack: .NET, Java, Angular, React, Python, SQL Server, AWS, Azure.
5. Fintek Software (UK)
- Hourly Price: $50 – $99/hr
- Rating: Clutch (4.6)
- Employees: 10 – 49
- Founded: 2017
Min Project: $10,000+
Services provided:
Fintech Software Development, Mobile App Development, Web Development, Cloud Solutions, API Integration, IT Consulting.
About the company:
Fintek Software is a firm known for its expertise in developing customized IT systems. Founded to tackle complex IT issues, the company uses unique technologies to deliver best solutions for their customers.
Firm specializes in FinTech, blockchain and mobile applications. Fintek Software has created secure blockchain-based payment systems and innovative mobile banking apps.
Fintek Software serves a diverse range of sectors, including banking, insurance and investment.
Tech Stack: Java, Swift, Kotlin, Angular, Node.js, AWS, Docker, Kubernetes.
6. Softwire (UK)
- Hourly Price: $100 – $149/hr
- Rating: Clutch (4.7)
- Employees: 250 – 999
- Founded: 2000
- Min Project: $50,000+
Services provided:
Custom Software Development, Mobile App Development, Digital Transformation, Cloud Solutions, UX/UI Design, IT Consulting.
About the company:
Softwire is a company with huge experience in developing. Established in the UK, the firm was founded with the mission of solving complex IT challenges by leveraging advanced technologies to deliver impressive solutions.
Company specializes in software development and Generative AI services support. Softwire has successfully developed comprehensive government portals and innovative healthcare management systems.
The firm is particularly strong in software development and digital transformation, offering innovative solutions that help businesses optimize their operations. Softwire caters to various industries, including government, healthcare, and finance.
Tech Stack: C#, .NET, Java, Python, React, Angular, AWS, Azure, SQL Server.
7. Robosoft Technologies (US)
- Hourly Price: $100 – $149/hr
- Rating: Clutch (4.7)
- Employees: 250 – 999
- Founded: 1996
- Min Project: $25,000+
Services provided:
Mobile App Development, Web Development, UX/UI Design, Digital Advisory, Enterprise Solutions, Product Engineering.
About the company:
Robosoft Technologies is a custom software development and consultancy firm acclaimed for its expertise in building tailored IT systems. Founded with the aim of addressing complex IT challenges, the company utilizes advanced technologies to deliver innovative solutions.
Firm focuses on mobile app development, digital transformation, and UI/UX design. Robosoft has developed intuitive retail apps and robust digital banking solutions.
Company excels in mobile app development and UI/UX design, providing cutting-edge solutions that help businesses enhance their digital presence. Robosoft Technologies serves a diverse range of industries, including retail, banking and healthcare.
Tech Stack: Swift, Kotlin, Java, React Native, Flutter, Angular, Node.js, AWS, Azure.
8. Concise Software (Poland)
- Hourly Price: $50 – $99/hr
- Rating: Clutch (4.7)
- Employees: 50 – 249
- Founded: 2011
- Min Project: $10,000+
Services provided:
Custom Software Development, Mobile App Development, Blockchain Development, IoT Development, Automotive Solutions.
About the company:
Concise Software is a custom software development and consultancy firm known for its expertise in creating bespoke IT systems. Established to tackle complex IT issues, the company employs advanced technologies to deliver innovative solutions.
Company specializes in mobile and web application development, IoT solutions and blockchain technology. Concise Software has developed smart automotive IoT solutions and secure blockchain platforms.
The firm excels in IoT and blockchain, providing state-of-the-art solutions that enable businesses to leverage technology for strategic benefits. Concise Software serves a variety of sectors, including automotive, healthcare and entertainment.
Tech Stack: Java, Swift, Kotlin, React, Node.js, Solidity, AWS, Azure.
9. CFCS Cloud (India)
- Hourly Price: $25 – $49/hr
- Rating: Clutch (4.7)
- Employees: 50 – 249
- Founded: 1997
- Min Project: $25,000+
Services provided:
Cloud Solutions, Custom Software Development, IT Infrastructure, Cybersecurity, Data Analytics, DevOps.
About the company:
CFCS Cloud is a custom software development and consultancy firm, founded in the USA. The company focuses on addressing complex IT challenges by utilizing unique technologies to create innovative solutions.
Company focuses on cloud computing, cybersecurity, and IT infrastructure. CFCS Cloud has developed secure cloud storage solutions and comprehensive cybersecurity frameworks.
The firm is particularly strong in cloud computing and cybersecurity, offering advanced solutions that help businesses secure and optimize their IT environments. CFCS Cloud caters to various industries, including finance, healthcare and retail.
Tech Stack: AWS, Azure, Google Cloud, Docker, Kubernetes, Python, Java, SQL.
10. Shockoe (US)
- Hourly Price: $100 – $149/hr
- Rating: Clutch (4.7)
- Employees: 50 – 249
- Founded: 2010
- Min Project: $250,000+
Services provided:
Mobile App Development, Augmented Reality (AR) Solutions, Digital Strategy, UX/UI Design, Enterprise Mobility.
About the company:
Shockoe is a custom software development and consultancy firm renowned for its expertise in creating bespoke IT systems.
Company specializes in mobile app development, augmented reality (AR) and digital transformation. Shockoe has created immersive AR retail experiences and robust logistics tracking apps.
The firm excels in mobile app development and AR, providing innovative solutions that help businesses enhance their digital capabilities. Shockoe serves a wide range of industries, including retail, logistics, and entertainment.
Tech Stack: Swift, Kotlin, React Native, Unity, ARKit, ARCore, AWS, Node.js, JavaScript.
AQ
1. What is a digital wallet app?
A digital wallet app is a software application that offers users to store, manage, and use their financial data on their smartphones or other digital devices. These apps enable users to make payments, transfer money, and store various types of cards (credit, debit, loyalty) safely.
2. How much does it cost to develop a digital wallet app?
The cost of developing a digital wallet app can vary due to many factors like complexity, features, platform (iOS, Android, or both), and the development team’s location. On average, it can range from $50,000 to $250,000 or more. Detailed requirements and customizations can push costs higher.
3. Which digital wallet is best?
The best digital wallet depends on individual needs and preferences. Popular options include Apple Pay, Google Wallet, and PayPal, each of them offering unique features like security, ease of use, and compatibility with various devices and services. For business-specific needs, custom solutions from top development companies like Itexus can provide tailored functionalities.
3 Factors to consider when developing an eWallet
When designing an ewallet app, make sure you have considered these three points.
1. Great UI
UI design is all about helping users complete their tasks as easily and efficiently as possible. A user-friendly, intuitive, and engaging user interface (UI) helps keep users coming back to your app and ensures a great user experience (UX). So pay proper attention to UI – your app should be as visually appealing as user-friendly. In terms of ewallet development, a good UI means that it’s easy for users to add, remove, and manage credit and debit cards and identification documents within the app.
2. Privacy and security
Robust privacy and security protocols are a must for a fintech app, as it deals with sensitive user data, so make sure to equip your ewallet with a multi-factor authentication option and encryption. Other measures you can take to ensure top-notch data security include training employees, creating backups, regularly patching security vulnerabilities, and having strict policies in place to protect users’ offline data sites.
3. Integration with wearables
The popularity of wearables has grown exponentially. Therefore, it is important to provide seamless integration of your ewallet app with wearable devices such as smartwatches. Integration with wearables improves the user experience by making transactions much faster and easier for users, as they do not have to take out their smartphone at a PoS station.
How to choose a vendor for custom ewallet development?
There are some important points to consider when choosing a digital wallet development provider.
✔️ Industry expertise
Research the company’s portfolio, and look for similar fintech solutions they have already implemented. Make sure the team is scalable if needed, and check how its previous projects perform. Examine it all carefully and don’t choose the provider if even one pillar of a fruitful collaboration is missing.
✔️ Engagement models
There is a strong correlation between the quality of the result and the price of the provider’s work. Trying to cut costs at the beginning can lead to budget overruns and performance issues. So try to find a middle ground instead of sacrificing quality for a lower budget. For this, choose an appropriate engagement model that meets your specific needs and goals. Different companies offer different options, learn more about all cooperation models to decide which model is right for you.
✔️ Support & maintenance
Ongoing support, maintenance, and improvement of the existing system are crucial if you want your eWallet to succeed. Find out if the provider offers further maintenance and on what terms, and only then sign the contract.
✔️ Reputation
Money is a touchy subject, and users want to be sure that the payment solution they trust with their finances is highly secured. The reputation of your digital wallet must be impeccable, and it is directly related to the reputation of your chosen software development partner.
Itexus experience in digital wallet development
Mobile e-wallet application
Itexus delivered a multifunctional digital wallet solution enabling users to connect credit and debit cards to their wallet accounts through banking partners and manage their assets cost-effectively and effortlessly going over the heads of traditional banking. Our team engineered digital wallet mobile apps for Android and iOS as well as a web app for the Admin panel. We empowered the solution with facilitated KYC and 2FA authentication. Also, we stuffed the digital wallet with the money transfer function, account recharge, bill payment, money withdrawal, QR code, virtual card payments, report generation, currency conversion, and other functionality.
To learn more about the project, please read the case study.
Team extension for building eWallet
Knowing that our company does not only outsource and deliver high-ranked solutions from scratch, we also provide client team augmentation. The case under discussion is the provision of two of our digital wallet development professionals (Android and iOS) to complete the client’s team and help them to finish the project. Our team members turned out to be extremely valuable, working within the augmentation model provided effectively and efficiently. Itexus top management had no problems providing individual working schedules for our extended specialists covering at the same time all the administrative issues.
To learn more about the project, please read the case study.
Mobile banking app for migrants
Projects picked up by Itexus are not only technically advanced and sometimes challenging but also bring positive social and economic impacts on people worldwide. The perfect example of such a service is a neobank solution we developed for one of our clients. Our client was not only looking for sound developers with vast expertise in fintech projects accomplishment but also specialists skilled in banking and financial regulations in the USA. It was crucial to make the app secure, AML, CFT, and PCI DSS compliant, as well as other governmental regulations. Also, the third-party APIs integrated need constant monitoring for updates which is performed by our dedicated support team.
To learn more about the project, please read the case study.
Summary
Digital wallets are facilitating our communication with financial institutions, acting on behalf of digital intermediaries. Technologies used enable fast-speed digital transactions, instant money transfers, bill payments, and other essential financial services. When choosing digital wallet providers, pay closer attention to their fintech expertise, engagement models offered by the company, support and maintenance provided, and the company’s reputation.
Do you have an idea in mind or perhaps an ongoing project that needs a professional touch? Send us a request! Get connected with our specialist and let us do all the work while you can focus on strategic marketing for your solution.