Building an e-wallet that drives a faster return on investment is not everybody’s piece of cake. It requires a staged approach to the eWallet app development. Broadly, there are three stages of an eWallet lifecycle – MVP, initial launch, and service expansion.
FinTech developers optimize the use of the agile development approach to make the most out of the staged approach. With years of experience in eWallet design and development, I’ve identified that successful eWallets get rolled out into the market with limited features, and get introduced with innovative features as they get to hold onto the market.
At the MVP (Minimum Viable Product) stage, the digital wallet won’t need features like third-party bill payments. Later, during the service expansion phase, such features should be introduced. By launching a beta version of the app sooner rather than later, eWallet service providers will have ample time to collect feedback before launching a full-fledged app.