In the era of digital transactions, eWallet apps have become integral to our daily lives, transforming the way we manage finances.
Having a mobile app can indeed be a great way for businesses to connect with their audience and expand their reach. However, it’s important to consider the cost of developing the app before diving into the process.
Estimating the mobile app development cost is a crucial first step to ensure that the end product is successful and within budget. Businesses need to consider the cost of developing a mobile app before proceeding with the process.
If you’re also wondering, what is the eWallet app development cost in India, this post is for you.
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Let’s Understand eWallet App Development Cost
Estimating the cost can help determine the success or failure of the end product and ensure that it stays within budget.
On demand app development company choose to seek mobile app development services in India due to their abundant resources and affordable rates.
|Potential Cost Range (INR)
|Estimated Completion Time
|Simple eWallet App
|INR 4,00,000 – INR 8,00,000
|3 – 6 months
|Medium eWallet App
|INR 10,00,000 – INR 20,00,000
|6 – 9 months
|Advanced eWallet App
|INR 20,00,000 and above
|9 months – 1 year
- These are approximate ranges and can vary based on specific project requirements, complexity, and additional features.
- The completion time estimates are general guidelines and may vary depending on project scope, client feedback cycles, and other influencing factors.
- It’s crucial to hire dedicated developers to get a tailored estimate for your unique project and ensure a realistic timeline.
How Much Does Cost to Maintain & Update eWallet App Development?
Maintaining and updating an eWallet app is an essential ongoing investment to ensure its optimal performance, security, and relevance in a dynamic digital landscape.
The costs associated with maintenance and updates can vary based on factors like the complexity of the app, the frequency of updates, and the specific activities involved.
Here’s a general breakdown of the eWallet app development company that give an overview of maintenance costs:
|Maintenance & Update Activities
|Potential Cost Range (Annually)
|Regular Bug Fixes and Performance Optimization
|10-15% of the initial development cost per year
|Security Updates and Enhancements
|5-10% of the initial development cost per year
|Adding New Features or Functionalities
|Vary depends on the complexity of enhancements
|Compatibility Updates (OS, Devices, etc.)
|5-10% of the initial development cost per update
|User Interface (UI) and User Experience (UX) Improvements
|Vary depends on the support model chosen
Understanding the factors influencing eWallet app development cost in India is crucial for planning and executing a successful project.
India is a promising destination for developing cutting-edge eWallet solutions with the right mobile app development company.
It’s a strategic move that can help businesses save on development costs while still getting high-quality services from experienced developers.
1. What factors influence the cost of eWallet app development in India?
The cost of eWallet app development in India is influenced by various factors, including the app’s features and complexity, chosen platform (iOS, Android, or cross-platform), UI/UX, and security features.
2. How do ongoing maintenance and updates contribute to the overall cost of eWallet app development in India?
The ongoing maintenance and updates of an eWallet app are crucial for its performance, security, and user satisfaction. Activities like bug fixes, security enhancements, adding new features, compatibility updates, and UI/UX improvements incur annual costs.
3. Why is India considered a favorable destination for eWallet app development in terms of cost?
India is a preferred destination for eWallet app development due to its cost-effective solutions, a vast talent pool of skilled developers, and a time zone advantage that facilitates efficient collaboration.