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Build your own Mobile Wallet – Get trained by Skillwise Consulting

September 14, 2018

 

Mobile Wallets:

Mobile Wallets are a form of virtual money exchange wherein you club all of your credit/debit cards onto a mobile application and proceed transactions with it.

Virtual Money Exchange have been running through the market way too fast. The world is moving towards digitization and mobile wallets could never be exempted. The government mobile wallets have become much prevalent due to meagre service tax for transactions.

 

What does it take to build a future-proof mobile wallet?

  • Software Development Kit (SDK) to develop a user-friendly mobile app.
  • Supports all major mobile OS platforms.
  • RBI requires two-stage secure payment and a licence. It’s a necessity.
  • Pre-tested quality components to render it error free.
  • Fully integrated with security on the installed device.
  • Built-in accessibility to Gemalto’s Trusted Service Hub and other wallet platforms.
  • Integrates with your loyalty and promotional platforms.
  • Expert delivery teams engaged with supporting development and rollout.

Market Condition of Mobile Wallets:

The mobile wallet market leader PayTM has 20 million active users and that is more than the total number of credit cards in India. On a recent study by the management consultant firm RNCOS, by 2019, the market value of mobile wallets would be Rs.1210 crores. Such is the growth of mobile wallets in India. More such players have their presence in the market including PayPal, Freecharge, MobiKwik and more are budding.

These wallets are now reaching out to all digital transacting markets to lay their presence. PayTM has recently introduced food wallets for the employers to provide the compulsory food allowance of Rs.50/day to their employees.

Offers and discounts play a major role in the switching risk between the mobile wallets. Right from online shopping carts, mobile and dth recharge, insurance payments to digital gold, the service expansion is drastic.

Presently there are only about 12 mobile wallet service providers in India. Now is a good time to lay your roots deep and keep reaping the benefits.

Enrol to the free webinar session on Mobile Wallets by Skillwise Consulting.

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