Home Development App Development Cost of an App like PhonePe, GPay, or Paytm

App Development Cost of an App like PhonePe, GPay, or Paytm

by Tarun Pal
Payment app development cost

Today, people prefer to pay through online modes rather than hard cash, and apps like PhonePe, Google Pay and Paytm have made this process super easy. As we approach digitalization with each passing day, it is important to acknowledge the things that have led to digitalization, and contactless payments were one of them. Online banking and payments through credit cards and debit cards were a huge digital revolution that took a massive leap with e-wallets and online payment systems.

Factors Affecting the Cost of Developing UPI Payment Apps

The actual cost of creating UPI payment apps like PhonePe, Google Pay and Paytm or any online recharge app development depends on the following key factors:

Platform-specific development costs

The cost to create an Online Payment App varies from one platform to another. Android costs relatively more than iOS because Android application development requires more code, Android emulators are slower than iOS, and Android has more devices to test.

Design costs for customer engagement and retention

Convincing design is crucial for payments apps to engage and retain customers. An attractive and user-friendly design helps attract repeat customers. Designing an intuitive application requires efficient use of advanced technologies and tools, which can increase costs but is worth it.

Feature selection and application size

The cost to develop an UPI app depends heavily on the type of features you choose that form the size of the application. The size of the application can be reduced by giving preference to only the main features in version 1 of the application and to the best development practices (Fusion Informatics has demonstrated the proven development practices sought in developing online charging applications).

Mobile wallet app development and integration

Online recharge apps are nothing without a wallet, and mobile wallet app development and seamless integration take hours and extra costs. The development cost of a mobile wallet payment app can be reduced by having an appropriate roadmap in the strategy phase.

Geographic location, experience, and expertise of developers

Therefore, the cost of developing UPI payment mobile wallet apps may vary depending on the geographic location, experience, and level of expertise of the developers.

App Platform and Operating System

The choice of app platform and operating system can greatly impact the cost of developing an app like PhonePe, GPay, or Paytm. Android and iOS are the two most popular platforms, and each has its own development requirements and costs. Android app development costs tend to be higher than iOS app development costs.

This is because Android apps typically require more code to be written, and there are more devices to test on due to the fragmentation of the Android market. Additionally, Android emulators can be slower than iOS emulators, which can increase development time and costs.

On the other hand, iOS app development tends to be faster and cheaper due to the streamlined nature of the platform. This is because Apple has strict guidelines for app development that ensure a certain level of quality, which can save time on testing and debugging. Additionally, iOS has a smaller number of devices to test on, which reduces development time and costs.

Therefore, when considering the platform and operating system for an app like PhonePe, GPay, or Paytm, it is important to weigh the costs and benefits of each option carefully. Depending on the target audience and the features required, it may be more cost-effective to develop for one platform over another.

User Interface and User Experience Design for UPI Payment Apps

In the world of UPI payment apps like PhonePe, GPay, or Paytm, the UI/UX design is of paramount importance as it can have a significant impact on the cost and success of the app. A well-designed UI/UX can make the app more appealing and user-friendly, ultimately driving revenue for the app. Here are some factors that make UI/UX important from a user perspective.

google pay ui design
Image Source: Dribbble.Com

Importance of UI/UX Design for UPI Payment Apps

When it comes to developing a UPI payment app like PhonePe, GPay, or Paytm, the user interface (UI) and user experience (UX) design are critical components that can greatly impact the cost and success of the app. A well-designed UI/UX can attract and retain customers, increase engagement, and ultimately drive revenue for the app.

Key Factors to Consider for UI/UX Design

There are several key factors to consider when designing the UI/UX for a UPI payment app like PhonePe, GPay, or Paytm. Firstly, the design must be attractive, user-friendly, and easy to navigate. This means using a clear layout, intuitive icons, and readable fonts to create a visually appealing and functional app.

Secondly, the app should offer a seamless and efficient user experience. This includes ensuring that the app is responsive, fast, and reliable, with minimal loading times and no technical glitches. Additionally, the app should offer personalized and relevant content, such as transaction history and notifications, to enhance the user experience.

Thirdly, the app should be accessible to all users, regardless of their abilities or disabilities. This means incorporating accessibility features such as voice-over, high-contrast modes, and screen readers to ensure that the app is usable by everyone.

Cost of UI/UX Design for UPI Payment Apps

Designing an intuitive UI/UX requires efficient use of advanced technologies and tools, which can increase costs. However, it is worth investing in good UI/UX design, as it can significantly increase customer engagement and revenue for the app. The cost of UI/UX design for a UPI payment app like PhonePe, GPay, or Paytm can vary depending on the complexity of the design, the level of customization required, and the experience and expertise of the designers.

App Features and Functionality

The features and functionality of an online payment app play a crucial role in determining its success and development cost. Here are some important factors to consider when developing such an app:

1. Payment Gateway Integration

One of the most critical features of a UPI payment app is the integration of a secure and reliable payment gateway. It must be able to handle transactions quickly and efficiently, while also ensuring the safety and security of user data.

2. Registration and Login

The app must provide a simple and user-friendly registration process. Users should be able to create an account quickly and easily, without having to fill out lengthy forms or provide unnecessary information. Additionally, the login process must be secure and straightforward, with the option for two-factor authentication to enhance security.

3. User Profile

The app should provide users with the ability to view and edit their profiles, including their payment and personal information. It should also allow users to add multiple bank accounts, view their transaction history, and manage their preferences.

4. User-Friendly Interface

The app must have a user-friendly interface that is easy to navigate, with clear and intuitive icons and buttons. It should also have a search bar to allow users to find specific transactions or features easily.

5. Push Notifications

Push notifications are an essential feature of UPI payment apps. The app should send users notifications for successful transactions, payment reminders, and other relevant updates.

6. Customer Support

The app must provide reliable and prompt customer support to users. This can be in the form of chatbots, email support, or phone support, depending on the app’s resources and budget.

7.Security Features

7. To ensure the safety and security of user data, the app must have robust security features, including encryption of sensitive data, two-factor authentication, and automatic log out after a period of inactivity.

Payment Gateway Integration

One of the most important features of a UPI payment app like PhonePe, GPay, or Paytm is its payment gateway integration. Payment gateway integration refers to the process of integrating a secure payment gateway into the app, which allows users to make payments using various methods, such as UPI, credit/debit cards, and net banking.

Here are some key factors to consider when it comes to payment gateway integration:

  1. Security and Compliance: Payment gateway integration must be secure and comply with the latest security standards such as PCI DSS (Payment Card Industry Data Security Standard). Failure to meet these standards can lead to data breaches, which can damage the app’s reputation and result in legal penalties.
  2. Compatibility: The payment gateway should be compatible with the app’s platform and operating system. For example, if the app is developed for Android, then the payment gateway should be compatible with Android devices.
  3. User-Friendly: The payment gateway integration should be user-friendly, with clear instructions and intuitive interface, ensuring a seamless and hassle-free payment experience for users.
  4. Customization: The payment gateway integration should be customizable, allowing the app to add new payment methods, customize the checkout process, and offer discounts and promotions.

Backend Development and Infrastructure

When it comes to developing a UPI payment app like PhonePe, GPay, or Paytm, backend development and infrastructure are crucial components that can greatly impact the cost and functionality of the app. Here are some factors to consider when it comes to backend development and infrastructure:

1. Database and Storage:

A reliable and scalable database is essential for the smooth functioning of a payment app. The database should be capable of handling large volumes of data while maintaining high availability and data integrity. Additionally, the app will require adequate storage space to store user data such as transaction history and account details.

2. Security:

Security is a top priority when it comes to payment apps. The backend infrastructure should be designed with security in mind, including measures such as encryption, firewalls, and regular security audits to protect user data and prevent unauthorized access.

3. API Integration:

The backend of a UPI payment app will need to integrate with various third-party APIs to provide seamless and secure payment transactions. This will require a robust backend infrastructure capable of handling large volumes of API requests while maintaining high levels of performance and reliability.

4. Scalability:

As the user base of a payment app grows, so will the demand on the backend infrastructure. It is essential to design the backend with scalability in mind, including the ability to handle a high volume of users and transactions without compromising on performance or user experience.

5. Cloud Infrastructure:

Cloud infrastructure provides a cost-effective and scalable solution for backend development. By leveraging cloud services such as AWS or Google Cloud, developers can build a robust and scalable backend without the need for large upfront investments in hardware and infrastructure.

App Testing and Quality Assurance

App testing and quality assurance is an essential step in the development process of a UPI payment app like PhonePe, GPay, or Paytm. This process ensures that the app is fully functional and meets the user’s expectations. Here are the key factors to consider for app testing and quality assurance:

  1. Functional testing: This is the process of testing the app’s functionalities to ensure that they work as intended. This includes testing features such as login, registration, and payment processing.
  2. Compatibility testing: Compatibility testing ensures that the app works smoothly on different devices, operating systems, and web browsers.
  3. Security testing: Security testing ensures that the app is secure and free from vulnerabilities that could compromise user data.
  4. Performance testing: Performance testing ensures that the app is fast and responsive, with no lag or delays in processing payments.
  5. Usability testing: Usability testing ensures that the app is easy to use and navigate, with clear and concise instructions and user-friendly features.

Payment App Development Cost Breakdown

When developing an app like PhonePe, GPay, or Paytm, the cost breakdown can vary depending on several factors, including the platform, UI/UX design, features, backend development, and testing. Here is an example table outlining a possible cost breakdown for developing a UPI payment app:

Cost Breakdown By Project:
Cost CategoryEstimated Cost (Reduced by 20%)
App platform$8,000-$40,000
UI/UX design$16,000-$40,000
Payment gateway integration$8,000-$16,000
App features and functionality (Frontend Development)$40,000-$80,000
Backend development and infrastructure$16,000-$32,000
App testing and quality assurance$8,000-$16,000
Contingency and miscellaneous$8,000-$16,000
Cost Breakdown By Hours:
ComponentEstimated Cost Per Hour
Market research$32 – $50
UI/UX design$20 – $40
Payment gateway integration
Backend development$45 – $57
App testing and QA$12 – $20
Infrastructure$30 – $50

Disclaimer: It is important to note that these estimates are just an example and the actual cost breakdown can vary depending on the specific requirements of the app, the level of customization, and the experience of the development team. Additionally, ongoing maintenance and updates can also contribute to the overall cost of developing and maintaining the app.

How Can Waffle Bytes Help You With Mobile App Development Cost Estimation?

So, how much does it cost to create an app? Well, it’s quite evident that there is no clear-cut prediction for this question. Considering all the influencing factors should help you arrive at a nearly accurate cost for turning your innovative app idea into a reality.

The experts at Waffle Bytes specialize in building and launching the most innovative and scalable apps with next-gen features and functionalities. Waffle Bytes has designed and developed transformational apps for some of the most popular brands including Getlook, Getezo, Groome, etc.

Therefore, if you are planning to build such innovative mobile apps or want to get a rough estimate for creating an app for your business, contact our experts to get started.

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