Mobile wallet development: How to develop a mobile wallet like Zelle?

Mobile payment apps are hurrying us into a cashless, card-free, and pay-contactless world. They stimulate and optimize everything right from splitting bills, sending payments, booking trips, managing expenses. Fintech renews our ways with money with the introduction of mobile wallet apps, m-commerce apps, cryptocurrency platforms, peer-to-peer payment apps, and much more. One day soon, we can wake up to a totally bankless world.

Surprised? Well, don’t be! It’s already there! The gen-Z peer-to-peer payment apps are card-less, cash-less, and bank-less. Meanwhile, though, mobile payment technology is a melting pot of different business models, UVPs, and technologies. Want to know more how this peer-to-peer mobile payment system development works? Let’s dive in!

What is a peer-to-peer payment app?


Consider PayPal which was there long before mobile apps. A peer-to-peer mobile payment system is an application that we use to perform electronic money transfers to friends or family or anyone else.

P2P money transfer apps are:

  • designed for private use between people who know each other well. So, there is a lower level of transaction protection when compared to commercial apps.
  • funding requirements vary over various peer-to-peer-payment apps 


Why Should You Build A Mobile Wallet App?


Following are the top 3 reasons why you should develop mobile wallet.


There are more than 1.2 billion people having access to a bank account with payment capabilities. However, there are more people who are bankless but have access to mobile phones. That symbolises more numbers of individuals have access to mobile phones than subscribers in banks. So mobile wallet app development can be a great idea for the startups, MSMEs or large businesses to invest. Every financial institution likes to increase their customer base through mobile applications.

A mobile wallet app can convert a mobile into a smart and more interactive device. It makes the experience of online payments, vouchers, coupons and loyalty cards extra satisfying. But the need is to get started to build mobile wallet apps.

There are three out of every four millennials who ave made online or mobile P2P payments, according to a recent study by the money-transferring mobile app Zelle. Accessibility is indicated as a fundamental adoption factor by 68% of P2P mobile payment app users. Basically, you need to agree that sending money with a few taps and swipes is fun. At the same time, the timing to get into payment P2P app development is simply right since the opening of opportunity is getting filled with investment gold.

Investment in P2P


Mobile share of US P2P payments is anticipated to touch $336 billion in 2021. ‘Payments & transactions’ startups have won five out of ten top fintech investments in the first half of the year 2019. 

Zelle App


Zelle is a quick, reliable and simple way to send money in minutes. You can send and receive money to and from people you trust. You can even send gifts in the form of money directly to people’s bank accounts. You can share and split the bill and pay immediately. Zelle is making life simpler for almost everyone.

Zelle app is headquartered in the United States. It is a payments network owned by Early Warning Services which is a private financial services firm owned by various banks. The Zelle service allows people to electronically transfer money from their bank account to different registered user’s bank account (within the United States) using a mobile device or the website of a participating banking institution. The Zelle instant payment service was started in the year 2017.

To register with the Zelle mobile app, the users are required to add a supported MasterCard or Visa-branded debit card assigned in connection with a U.S. bank account. The network combines with current bank accounts, so customers do not need to finance a separate account to use the service.

The recipient is required to put their email address or mobile number to send money directly from their bank account to the recipient’s bank account. Every email address or mobile number may only be actively registered in Zelle to accept payments at one monetary institution. Users are required to provide different email addresses or mobile phone numbers if they wish to register for multiple banks.

Zelle has more than 100 participant institutions and 100+ million downloads. It is available in most parts of the globe. 

STEP 1: Access Zelle

The Zelle app can be accessed through the phone and downloading is not necessary. However, if your bank doesn’t offer Zelle, you can easily download the app to get started.

STEP 2: Pick a person to pay.

Once you register on Zelle app, you just need to enter the mobile number of the trusted recipient.

STEP 3: Choose the amount to send.

Enter the amount you want to send to the selected recipient. If your recipient is already registered with Zelle, the money will be transferred directly into their bank account in just 1 minute. And if in case the person is not yet registered with Zelle, they will get a notification demonstrating how to accept the money easily and swiftly.

The Zelle app uses authorization and monitoring characteristics to make your payments more reliable and secure. So if you are using the Zelle app or using Zelle through your bank or credit union’s mobile app or online banking, your payments will be safe and you can have peace of mind.

Our e-wallet feature enriched e-wallet white label solutions offer you to join the peer-to-peer money transfer industry. We can even design tailored e-wallet apps according to your particular needs. Our top-level development team can help you with unparallel solutions for e-wallet app development with their expertise and knowledge. 

So, if you are interested to join the competition and earn profits through FinTech app development, we recommend you to begin with our white label solutions for e-wallet app development. Connect with us to ask for a free demo and get a detailed price structure. 


A basic chart for P2P payments app development cost is as follows:

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