Mobile Wallet Integration in Apps: Opportunities and Challenges

Mobile Wallets Integration: App Development

Published October 09,2018 1 year ago Posted By Justinas Danis

Reading Time: 3 minutes

The very thought about payment through a mobile device appeared something of the future, but now more and more people are with a mobile device than do not. Using your mobile device for making payments from anywhere is not practiced only by the tech-savvy enthusiasts but it is normal for both for any customer and merchants.

Previously the buzz on mobile payments was focused on functionality, cost, and security but now there is one question to ask: What’s next?

Some mobile payment services to mention are Wechat pay, Alipay, Amazon pay, Apple pay, and Android pay. Yet there are some challenges being faced with an integration of mobile wallet in phones and more prominent is consumers perception.

Cingant, a company for mobile app development in Lithuania discusses here the opportunities and challenges associated with mobile wallet integration and the future it holds.


Payments and loyalty

Research says that mostly the consumers are reluctant to use a consumer loyalty program when not accompanied by a Smartphone app. Loyalty is the concern, not payment. Companies can gain more engagement among consumers by offering rewards and discount within mobile wallets.

Rural Scenerio

If you talk about economic development of a nation, that also includes the rural areas. But there are many people who don’t have bank accounts yet. But, with the rise of mobile and internet users in rural areas, the opportunity for better online payment solutions could be expected over time. And with mobile wallet, one can create a bank account without being physically present in the bank. Mobile wallets maintain transparency in transactions and make it easy too.

More Smartphone Owners

Now four out of ten people own a Smartphone and the count is increasing.  With a rise in Smartphone users, there is also a rise in mobile wallet users.  More people now own a smartphone and wants to go cashless as a convenient payment mode.

Mobile Banking and Innovative Mobile Payment Application

More banks are going mobile with offering online banking services to customers. Now you can easily transfer money, online, check your balance and recent transactions. This service catalyzes the usage of cashless payment. Several financial organizations are coming up with innovative and finer more of digital transaction software.


Comply with Consumer-Based Regulations

Any payment service must be secured and mobile payment needs more to follow legal requirements and becomes a problem for new players who want to invest in a new market.

Lesser Knowledge

Consumers yet think that mobile wallet is not convenient. They are yet ignorant about the benefits of mobile wallets over the use of cash or credit cards. Hence most consumers prefer to use credit or debit cards for online payment and purchase.

No Rewards

Mobile wallets don’t have reward policies like credits and cash which comes with an opportunity of discounts, coupons, and rewards. To increase the usage of mobile wallet, a good thought on giving rewards to consumers is a must.

Risk of Fraud

One main reason why most consumers are reluctant. People also fear frauds like data leakage, hacking, malware attack, other online vulnerabilities.


With the exponential rise of internet users, it is estimated that there would be about 650 million internet users by 2020. More they are digitally savvy, more they would welcome innovations and prefer to use a digital wallet and do online transactions through mobile.

Recently, many tech companies are coming up to help and enhance mobile wallets and offer with software or app solutions to advance a complete finance managing tool. Endeavors are being made by app developers in Klaipeda  and other areas to make digital payment mode a common reality.

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