eWallet designs and the future of digital payments



Creating an eWallet with the best possible design can be incredibly complex. As smartphones become more and more powerful, eWallet designers have to deliver the most practical yet intuitive user experiences. After all, eWallets are the future of fintech. As a result, designers need to consider the design of their eWallet, balancing ease-of-use with solid security measures to ensure users adopt them for everyday payments.

The eWallet design process is a focused one that requires designers to be intimately familiar with best usability practices, mobile payment industry trends, technologies, and the latest data.

1. Understand User Personas

Before creating a digital wallet, perform thorough market research to identify your target customer. With a clearly-defined user persona, the product can gain the target audience’s attention and build a strong relationship between the brand and consumers. Moreover, users feel the product is easy to use which increases engagement. This is important to identify and understand your target customer.

Find more about Fintech User Personas Here.

2. Design a User Flow

User flow is the sequence of steps that the user takes to achieve the objective. eWallet design must facilitate and enhance the user experience. And, the user flow helps identify what features can meet users’ needs and satisfy them in the process.

3. Wireframing 

Wireframing involves creating sketches of the screens of the eWallet. This is for ensuring that all features are included in addition to simple tasks such as login authentication, registration, etc. This also helps understand the logical sequence of steps that would be required to take place on your app.

4. Visualization

Once wireframing is complete, it is time to create high-fidelity prototypes. These are the actual screens that users interact with on your application. Hence, it requires active operation on colors, branding, typography, and imagery, which are necessary for creating the product experience. These visuals help enhance user interaction with the app design while also explaining how each screen is related.

5. UX Lab and Testing

UX Lab helps in creating a better user experience. It aims to study the various processes followed within the app to determine how easy or difficult it is for users to accomplish tasks. It also makes sure that the app’s design is according to the initial plan and whether it fits into the user flow properly.

Top eWallet Design Components for Mobile UI UX

1. Financial Transaction Summary

Including a financial transaction, the summary is essential as it allows users to check their overall financial position even from the home screen. This feature allows users to check their balance at any point, the availability of funds, review transactions, etc. This is an important component as it makes up for a critical design element in eWallets and gives users a brief overview of all their transactions that have been done over some time.

2. Spending Analysis

Spending analysis is one of the most valuable features of an eWallet. This helps users keep track of their spending habits and track how much money they are spending on different categories like movies, shopping, etc. This lets users check their spending and plan for their future purchases as it becomes easy for them to create a budget with this information readily available on the app.

3. Fast and Seamless Transactions

One of the main components of a mobile wallet is its speed. Users expect their transactions to be done in the shortest time possible. And, any delays can severely affect user experience. This feature has become more critical today as several apps are available for booking cabs, ordering food, and doing other things that require financial transactions.

4. Bill Payment Functionality

Electronic modes of payment like online transactions and bill payments could be done through eWallets. They eliminate the need to carry cash or cards everywhere. This helps users by letting them enjoy benefits like cash backs, discounts, etc. while enabling better finance management. 

5.  Chatbots

Chatbots are virtual assistants that communicate in the way humans do. Providing effective and cost-effective customer support to users offers high-quality service and quickly resolves problems. Conversing with chatbots has become very easy, and this helps businesses understand their customer’s requirements better. They can find out what features they need or improve user experience on their apps.

6. Near Field Communication (NFC)

NFC integration in the eWallet design allows users to make payments at stores simply by tapping their phones on a device. With NFC transactions, users can be assured of their security since NFC payments are more secure than credit cards. In addition, NFC’s can work with more than just one payment system and provide a versatile platform for various types of secure payment. This makes transactions easier and faster as users no longer have to carry cash or cards everywhere they go.

7. QR Codes

QR codes are beneficial features that are added to an eWallet. This allows users to connect online with other people just by scanning their QR codes without the need for credit or debit cards. In addition, QR codes have made it easy to track the movement of money from one person to another.

8. Loyalty Programs

With the help of eWallets, users can earn loyalty points for any purchases they make. This helps businesses reward their customers by offering them discounts and other offers to keep them coming back. Users can also redeem these points for complimentary products or services, and businesses gain enhanced profitability through customer retention and increased demand for use cases.

Loyalty programs add value to eWallets and increase their reach. The ease of use, fast transactions, and QR/NFC functionality all work together to offer a rewarding customer experience and potential for growth for both businesses and users alike.

9. Biometrics

Biometrics is one of the most crucial security features added to an eWallet. It uses a user’s fingerprint, retina scanner, or facial scanner to authenticate them while ensuring that no other person can access their account. This eliminates the need for remembering passwords, and users can easily keep track of their money with just a tap of a button.

Future of eWallet Design

While the future of eWallet design is still undergoing constant improvement, it is not a long shot to say that the new generation will carry their money on smartphones instead of wallets. With faster transactions, user-friendly apps, and instant loyalty points redemption, and eWallets are looking towards more significant and larger improvements:

1. How Voice Activation Payments will impact eWallet design 

Voice-activated payments are the next big thing for users to look out for as it allows them to pay without even having to take out their phones or unlock them. Moreover, it makes life easier for people with disabilities and the elderly who may have trouble with typing or swiping, making payments quick and easy. This will enhance user experience as there won’t be any need for entering passwords and other information.

Voice-activated payments add another layer of security with voice recognition, which requires a voiceprint for authentication, making it harder for anyone to access your eWallet without your permission.

2. Solving Late Payments with Cloud

Cloud-based transactions work around the clock to keep users connected with their money and provide them with a seamless experience. For example, users can make late payments without worrying about bouncing checks or card declines, allowing them to save time and money. Moreover, upgrading to cloud-based transactions will be an obvious choice for users who want to experience freedom from manual handling processes.

3. Preventing Fraud Transactions With AI

AI can help detect potential fraud transactions by analyzing your online and offline behavior. This will alert users when unusual activities take place on their accounts, eliminating the need for a third party to monitor it, which saves time and money. AI can also reduce false declines by using machine learning to understand a user’s spending patterns and behavior.

4. Transformation of Contactless Payments

eWallets are expected to transform the contactless payment system that is currently active. Instead of using cards or cash, users can make payments simply by touching their phones at the POS. It can help them save time and save them from carrying cash or cards everywhere. In addition, with improved security in QR codes and NFC transactions, users will feel more secure paying with their phones.


eWallets are growing in popularity by being accepted at more places, offering better security, and introducing new ways of making payments. Users are the biggest benefactors as they can save time and money while using their phones to complete their transactions.

With no sign of slowing down anytime soon, eWallets will only continue to improve and convince more people to switch over to this convenient and secure method of making purchases. Furthermore, the future trajectory of the current pandemic and technology is leading towards a mostly cashless economy with people relying on eWallets for all their needs which makes it even more important to integrate safety and user experience to create a compelling product.

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