Cashless economy is the future. As the world gradually moves away from currency or physical notes-based transactions, we are in more need of safe and secure platforms for all kinds of digital transactions.
From paying monthly rents and mortgages to purchasing something from a local convenience store, digital payments systems are leading the way. Arriving as a game-changing app in the market is the Digital Wallet App.
Designed for the modern-day user, it allows anyone to instantly scan QR codes and send money to people. You can also receive money directly to your bank account from others. Besides, you can pay your utilities and bills from a single swipe.
By deploying high-end encryption standards and system-specific protocols such as finger-print and facial features scanners, we ensure your app is secure and airtight at any given point in time. This is the only app you will ever need to send or receive money with exciting cashbacks and exclusive privileges like discounts.
One of the first pointers in our brief was to develop a digital wallet app that facilitates instant payments. The demand was that the experience was supposed to be as quick and instantaneous as transacting physical money. Though tedious, it was exciting as the app required more brainstorming and integration in terms of advanced tech stack and development frameworks.
There were multiple challenges in developing the Digital Wallet App. The first one was in developing an app that gained users’ trust. Because we are dealing with money and money’s worth, we had to gain the trust of users and arrive as a credible platform to deal with cashless transactions for their purposes. So, we had to ensure the backend was solid and that all tasks from users were accomplished seamlessly.
The next challenge in our path was integrating the app with multiple services and vendors to streamline the payment of utilities. However, the major challenge in our list was the compliances and regulatory standards we had to adhere to.
Since this is a fintech app, there are tons of different standards and protocols to be complied with. The privacy of users and the security of assets were crucial and our digital infrastructure had to be at optimum and industry-specified levels for our functioning.
To establish credibility in the market and to offer users compelling reasons to switch to a cashless transaction system, we had to come up with different offers and incentives like cashbacks, referral bonuses, discounts, partner privileges and more. We also had to deploy the right color schemes, design hierarchies and more to sustain the trust we built through our first impression.
For their retention, we made sure the app was as user-friendly as possible. Through quick tours, videos and helpful tips, we ensured the app had zero to minimal learning curve.
As far as security and compliances were concerned, we cracked this by onboarding fintech SMEs and veterans who went on to smoothly shatter one challenge after another. We incorporated stringent data privacy protocols and deployed additional servers and solutions to tackle any breaches and encounter network downtimes.
Today, the app functions as one of the go-to portals for users to make payments, receive payments and spend on multiple eCommerce platforms and offline retail stores. The reception has been phenomenal and our efforts translated into a feather in our cap. Even today, we consistently roll out patches and updates for the app for the best customer experience and optimum trust.