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How Much does it cost to develop a e-wallet app like Touch ‘n Go?

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The way we manage our finances is undergoing a significant transformation, with e-wallet apps taking center stage. With smartphones reaching 85.3% global penetration in 2023 and a rising demand for convenience and security, e-wallets are quickly emerging as the favored choice for daily transactions.

A recent report by eMarketer predicts that mobile wallet users worldwide will reach 4.5 billion by 2025, highlighting the undeniable shift in consumer behavior.

In Malaysia, Touch ‘n Go stands as a leading example of this e-wallet revolution. With over 15 million users as of 2021, the app facilitates seamless payments for everyday purchases, bill payments, and even public transportation fares. Its success signifies the immense potential e-wallets hold for both users and businesses in the region.

In this blog, we’ll delve deeper into the growing e-wallet landscape, discuss the cost of building a digital payment app like Touch ‘n Go, and provide insights into mobile wallet app development pricing.

Understanding the Landscape of E-Wallet Apps

In the fast-paced world of money management, e-wallet apps like Touch ‘n Go are leading the charge, making financial transactions easier and safer than ever.

With more people around the globe turning to mobile wallets—projected to reach a whopping 5.2 billion users by 2026—it’s clear that these apps offer something special. Businesses are also jumping on board, enjoying faster transactions and lower costs.

But it’s not all smooth sailing in this competitive space, where big players like Apple Pay and Google Pay are duking it out. To really stand out, e-wallets need to do more than just the basics. It’s about understanding what users really want and delivering unique features, like special deals or seamless connections with other services.

In this digital age, e-wallets aren’t just changing the way we pay—they’re shaping the future of finance. As we explore this dynamic landscape, it’s crucial to consider the e-wallet app development cost and the digital payment solution development cost to stay ahead in this evolving industry.

Understanding Touch ‘n Go’s Business and Revenue Model

Touch ‘n Go has become synonymous with convenient and secure digital payments in Malaysia. But beyond its user-friendly interface lies a robust business model that has propelled it to become a leading e-wallet and contactless payment solution provider.

Touch ‘n Go operates under a freemium model, offering basic features like account management and peer-to-peer transfers free of charge. However, the company generates revenue through various streams:

  1. Transaction Fees: 

A small fee is charged on every transaction made through the app, including online payments, bill payments, and in-store payments using NFC technology.

  1. Partnerships: 

Touch ‘n Go partners with various businesses and organizations, offering exclusive discounts and cashback rewards for transactions made through the app. These partnerships generate revenue through referral fees or revenue-sharing agreements.

  1. Value-Added Services: 

The app offers additional paid services like investment options, insurance products, and mobile top-ups. These services contribute to the overall revenue stream, providing users with a comprehensive financial ecosystem within the app.

Touch ‘n Go’s success lies in offering a valuable and user-friendly platform while simultaneously creating sustainable revenue streams through various innovative and strategic partnerships.

Benefits of Building an E-commerce App Like Touch ‘n Go

Convenient and secure payment solutions are more crucial than ever in 2024. By building an e-wallet app like Touch ‘n Go, you can offer your users a convenient, secure, and feature-rich platform for managing their finances while simultaneously expanding your business reach and fostering customer loyalty.

  1. E-wallet apps like Touch ‘n Go offer users a convenient and secure way to make payments, both online and offline. This eliminates the need for carrying cash or remembering multiple card details, leading to a smoother and more efficient user experience.
  2. Integrating your e-wallet app with popular e-commerce platforms creates a seamless experience for online shoppers. Users can pay directly within online stores, eliminating the need to switch platforms and re-enter payment information.
  3. The number of mobile phone users and the adoption of digital payment methods are constantly increasing. Building an e-wallet app allows you to tap into this growing market of digitally-savvy consumers, expanding your reach and attracting new customers who prefer cashless transactions.
  4. E-wallet apps can be powerful tools for fostering customer loyalty and engagement. Implementing features like loyalty programs, exclusive promotions, and cashback rewards incentivizes users to regularly use your app, fostering a strong and valuable customer base.
  5. E-wallet apps can extend beyond just payment processing. With additional features like bill payments, money transfers, and in-store payments through scan-and-pay or NFC technologies, you offer a comprehensive digital wallet solution that caters to various user needs.

Key Features of an E-Wallet App like Touch ‘n Go

Developing a top-notch e-wallet app, like Touch ‘n Go, is about more than just features; it’s about giving users an easy and friendly experience that keeps them hooked. Here’s a breakdown of key features crucial for an app like Touch ‘n Go:

  1. User Interface (UI) and User Experience (UX) Design:

    Creating a visually appealing and user-friendly interface is crucial for attracting and retaining users. A streamlined design with clear navigation and intuitive features enhances the overall user experience. Touch ‘n Go sets the bar with its modern interface, making it easy for users to access various functions and complete transactions seamlessly.
  2. Registration and Authentication:

    Simplifying the registration process while maintaining strong security measures is key to driving user adoption. Touch ‘n Go achieves this by offering a straightforward registration process and implementing SMS-based multi-factor authentication (MFA) for added security, ensuring a balance between convenience and protection.
  3. Digital Wallet Integration:

    Providing diverse options for topping up e-wallets enhances user convenience and accessibility. Touch ‘n Go stands out by offering various top-up methods such as credit/debit cards, bank transfers, and DuitNow Transfer, along with seamless integration with major Malaysian banks and payment gateways for a hassle-free experience.
  4. Transaction History and Management:

    Helping users keep an eye on their spending and manage their transactions is super important. Touch ‘n Go does a great job at this. It provides users with detailed transaction lists that they can organize as they like. This feature helps users track their spending, understand where their money is going, and set limits to manage it more effectively. With Touch ‘n Go, staying in control of your money is simple and convenient.
  5. Security Measures:

    Making sure there are strong security features is crucial for building trust and keeping user data and money safe. Touch ‘n Go prioritizes security by employing industry-standard encryption protocols, biometric authentication methods like fingerprint and face ID recognition, and implementing advanced fraud detection mechanisms to safeguard users against unauthorized activities and transactions.
  6. Rewards and Loyalty Programs:

    Implementing a well-designed rewards and loyalty program can greatly enhance user engagement and brand loyalty for e-wallet apps like Touch ‘n Go. Strategies include integrating loyalty programs seamlessly, offering cashback, discounts, and rewards points tailored to user preferences.

Factors Influencing Development Costs

When venturing into the development of an e-wallet app, various factors come into play, significantly influencing the overall cost of the project. In this dynamic landscape, understanding key factors becomes essential for businesses and developers alike. Let’s delve into the critical factors that shape the development costs of an e-wallet app.

  1. Scope and Complexity of Features:

    The cost of developing an e-wallet app depends on feature complexity. Basic functions like account creation are cheaper, while advanced features like loyalty programs demand more resources. Customizations from clients impact costs, with unique experiences requiring extra time and resources.
  2. Technology Stack:

    Platform choice (iOS, Android, or cross-platform) affects costs. Developing native apps for each platform uses separate resources, while cross-platform development may be cost-efficient. Framework and library choices influence costs, requiring custom development for complex functionalities. Scalable technologies can handle future growth without extensive reconstruction.
  3. Development Team:

    In-house vs. outsourced development impacts costs and control. In-house teams offer control but come with fixed salaries and recruitment challenges. Outsourcing is cost-efficient but requires careful partner selection. Hiring experienced developers positively influences costs and project efficiency in e-wallet development.
  4. Regulatory Compliance:

    Compliance with financial rules and data protection laws is crucial, incurring extra costs like licenses. Integrating compliance features within the app, such as secure data storage and multi-factor authentication, requires development effort, contributing to overall expenses.
  5. Testing and Quality Assurance:

    Rigorous testing for functionality, security, and performance is vital. Robust testing processes minimize the risk of post-launch issues, impacting overall costs. Allocating resources for bug fixing and performance optimization ensures a smooth user experience, affecting the development timeline and expenses.
  6. Maintenance and Support:

    Ongoing maintenance, including bug fixes and security updates, is necessary and should be budgeted for. Building and maintaining a customer support infrastructure incurs additional expenses, contributing to the overall cost of the app’s lifecycle.

Cost Estimation for Developing an E-Wallet App like Touch ‘n Go

Developing a secure and user-friendly e-wallet app like Touch ‘n Go requires careful planning and consideration of various features and factors impacting the overall cost. According to a recent Clutch survey, 64% of mobile app development projects fall within the $35,000–$75,000 range. However, this range can fluctuate significantly depending on your specific requirements.

Let’s deep dive into the estimated cost range based on multiple features.

FeatureBasic Functionality (Estimated Cost)Medium Complexity (Estimated Cost)Advanced Features (Estimated Cost)
User Interface (UI) and UX Design$5,000-$10,000$10,000-$15,000$15,000-$20,000
Registration and Authentication$3,000-$5,000$5,000-$7,000$7,000-$10,000
Digital Wallet Integration $5,000-$8,000$8,000-$12,000$12,000-$15,000
Transaction History and Management$3,000-$5,000$5,000-$7,000$7,000-$10,000
Security Measures $5,000-$8,000$8,000-$12,000$12,000-$15,000
Push notifications and alerts$2,000-$3,000$3,000-$5,000$5,000-$7,000
Loyalty Program IntegrationN/A$5,000-$10,000$10,000-$15,000

Cost Optimization Strategies

When it comes to building an e-wallet app, keeping costs in check is essential for success. Cost optimization strategies are like smart shortcuts that help developers create a top-notch app without breaking the bank. By using these strategies, businesses can make sure their e-wallet app is not only efficient but also cost-effective. Let’s dive into some user-friendly tips to save money while building your e-wallet app.

  1. Prioritize the development of essential core functionalities for your target audience before adding advanced features later.
  2. Utilize open-source libraries and frameworks to reduce development time and costs.
  3. Implement agile methodology for iterative development, prioritizing features, and avoiding costly rework.
  4. Start with an MVP to test the concept with real users and gather feedback before investing heavily.
  5. Work with experienced e-wallet developers for efficient resource allocation and to avoid potential pitfalls, saving time and money.

Building Your Dream App with ReapMind:

At ReapMind, we’re your trusted app development partner, specializing in crafting innovative solutions for the e-commerce and fintech industries. We understand the evolving needs of the digital payment landscape and are passionate about helping businesses like yours thrive.

Why choose ReapMind?

  • We don’t believe in one-size-fits-all. We work closely with you to understand your unique vision and craft an e-wallet app that perfectly aligns with your specific needs and target audience.
  • Team ReapMind possesses extensive experience in e-commerce and fintech development, ensuring a smooth and efficient development process with a focus on security and user experience.
  • ReapMind prioritizes transparency and works collaboratively to keep your project within budget constraints, utilizing various cost-optimization strategies.
  • We embrace agile development, allowing for flexibility and adaptation throughout the process, ensuring timely delivery and seamless integration of your e-wallet app.
  • Team ReapMind is dedicated to your success. We go the extra mile to deliver a high-quality product that meets your expectations and exceeds your needs.

Ready to build your dream e-wallet app? Contact ReapMind today for a free consultation.


1. What is the estimated cost of developing an e-wallet app like Touch ‘n Go?

Ans: The estimated cost can range from $30,000 to $120,000+, depending on complexity, features, and the location of the development team. ReapMind offers free consultations to provide a more accurate estimate based on your specific requirements.

2. What features are essential for an e-wallet app?

Ans: Essential features include account management, fund transfers, payment functionality, transaction history, and security measures like multi-factor authentication.

3. Can I customize the e-wallet app to fit my specific needs?

Ans: Absolutely! At ReapMind, we specialize in creating bespoke e-wallet apps tailored to your unique target audience and business goals.

4. How long does it take to develop an e-wallet app?

Ans: Development time varies depending on project complexity. An e-wallet app with basic features can take around 3–6 months, while a complex app with advanced features might take 6–12 months or longer.

5. How can I get started with building my e-wallet app?

Ans: Contact ReapMind today for a free consultation! We’ll discuss your vision, assess your needs, and provide a roadmap for building your dream e-wallet app within your budget and timeline.

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