Creating High-Performing Mobile Wallet Applications with Flutter

Posted by Sara Suarez on August 30th, 2024

Today’s tech-savvy audiences prioritize cashless experience over physical cash transactions. Smartphones powered by advancements like 5G Internet connectivity and biometric authentication ensure greater speed and security for users during cashless transactions. Additionally, users have largely adopted cashless payment platforms to make purchases or send money across borders without relying on intermediaries. Understanding the relevance and widespread adoption of cashless transactions, several industries, from banking to ecommerce, are building and deploying mobile wallet applications.

Mobile wallet applications securely store and manage payment entities, such as credit/debit cards, loyalty cards, and even cryptocurrencies, allowing users to make transactions through their smartphones. Such applications help in streamlining various financial transaction activities for both businesses and customers, like peer-to-peer money transfers, online shopping, and in-store purchases.

Role of Flutter Framework in Optimizing Wallet App User Experience

Mobile wallet apps that offer highly intuitive navigation and hassle-free transaction experience are poised to be largely adopted by users and remain sustainable in the long term. A recent survey found that around 85% of users abandon payment processes in digital wallet apps when the transaction duration extends beyond three to four seconds. To overcome the risk of slow transaction speed and delayed payment processing, using a robust UI framework like Flutter for wallet app development is essential.

Flutter supports native REST API integration with a range of payment gateways, like PayPal, Razorpay, Stripe, and others. The REST API integration facilitates bi-directional data communication between mobile wallet apps and payment gateways. For instance, when a user initiates a transaction from a wallet app, the REST API transfers the payment request to the gateway. Consequently, the gateway processes the request and sends an immediate response to the wallet app, stating whether the transaction was successful, pending, or failed. This dynamic data exchange approach enables wallet apps to complete transactions quickly and optimize user experience. Developers from a recognized Flutter app development company effectively configure and integrate payment gateways during mobile wallet app development.

Building Core Features of Mobile Wallet Apps with Flutter

Apart from payment gateway integration, Flutter offers other key functionalities that can be incorporated into mobile wallet apps, such as:

1. Push Notifications

Customer retention is a crucial metric for the success of digital wallet applications. Implementing push notification functionality enables apps to keep their customers informed and engaged with diverse offerings. When wallet apps consistently send personalized reminders and updates, users remain active and do not migrate to other competing applications.

Flutter offers an intuitive plugin, namely ‘Firebase Core’. By configuring and incorporating this plugin in the backend of wallet apps, sending personalized push notifications becomes easier. This plugin is built using the machine learning (ML)-powered clustering algorithm that segments users into distinct groups based on their behavior patterns. Hence, this plugin enables mobile wallet apps to analyze factors like users’ app utilization patterns and transaction history and divide them into categories like budget-conscious users and frequent users. Budget-conscious users might receive notifications related to savings plans or budgeting tips, while frequent users might be informed about promotional offers or exclusive discounts.

2. Multi-Factor Authentication

Though biometric functionality protects wallet apps from unauthorized access, protecting sensitive financial data and transactions requires the implementation of multi-factor authentication (MFA). MFA plays a crucial role in restricting unauthorized access to user accounts and initiating transactions. For instance, when a malicious actor accesses a user’s mobile wallet app virtually, the additional verification factor sends the notification along with a digital code to the user’s registered devices and email. This helps in averting fraudulent activities like account takeover and financial theft.

Flutter app development services provider use ‘Auth0’, an intuitive identity management plugin for the incorporation of multi-factor authentication in apps. Auth0 supports the incorporation of SMS, email, and time-based one-time password (TOTP) authentication methods in both iOS and Android versions of wallet apps, further strengthening the security layer.

3. QR Code Scanner

Building mobile wallet apps with QR code scanners is essential for delivering a convenient transaction experience. By scanning QR codes, users can transfer money and access payment services via apps without any manual input. This convenience is particularly beneficial in dynamic environments like restaurants, retail stores, and transportation services, where fast transactions are essential.

The intuitive plugin ‘qr_flutter’ offers a range of QR code templates. This plugin’s flexibility enables easy customization and incorporation of QR code scanners in the front-end of mobile wallet apps. The code scanners generated through this plugin easily access the camera and payment gateway integration APIs and facilitate quick payment account identification and transaction for users. Similarly, embedding QR scanning functionality in mobile wallet apps helps business users eliminate the risk of accepting fraud/deceitful payments from merchants and overcome huge financial consequences.

Hire Flutter Developers for Feature-Rich Mobile Wallet App Development

To leverage these plugins and build multifunctional mobile wallet apps, collaborating with a Flutter development company is the right choice. Dedicated Flutter developers customize and incorporate plugins in apps according to the branding and design requirements of organizations, thereby ensuring a cohesive user experience. Before deployment, developers perform unit tests on the wallet app across various scenarios and devices. This real-time testing method helps in identifying and resolving potential issues in the plugin configuration and optimizing the performance of mobile wallet apps.

Dedicated developers also implement other sophisticated functionalities in mobile wallet apps, such as:

• Chatbots - The AI-powered conversational bots guide users through the mobile wallet app services. For instance, they help users navigate different sections of an app, view transaction history, and send requests to the customer support team.
• Analytical Dashboards - A visually appealing analytical dashboard that gives app users detailed insights into previous transactions, upcoming bills, spending habits, and others.

Wrapping Up

Building and launching feature-packed mobile wallet apps is essential for organizations looking to modernize the cashless payment experience. Flutter offers a range of plugins for payment gateway integration, multi-factor authentication, and contactless payment options. These functionalities improve the security and convenience of mobile wallet apps, thereby improving user adoption and engagement.