How Much does an App Like Paytm Cost?
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Paytm is India's largest mobile payments and commerce platform, founded in the year 2010 by Vijay Sekhar Sharma. It was incubated by one97 communications as a mobile recharge website. Starting from online mobile recharge platform and payments of bills, with time it has grown on to become one of India’s leading online marketplaces today.
Currently valued at more than $1.5 billion, Paytm is one of those rare unicorn startups that have thrived over the course of time. Its wallet has more than 200 million users in India & the company also has enlisted more than 3 million merchants under its network.
Very recently, Paytm acquired a banking license to operate within India. Within a month of its launch, it had gathered more than 5 million users for its banking services. In short, paytm has indeed set a benchmark when it comes to digital payments in the second largest internet market of the world, India.
It's not easy to make an app like Paytm. You really need to keep it simple & easy-to-use. Otherwise people just won't trust you with their money. Let's take a look at some of the key points about Paytm:
Key Features of Paytm App
Here're a few key features of the Paytm App and how it's beneficial for its users:
- Sign-up/Sign-in through email and mobile number with OTP
- User profile with transaction history
- Add money to your Paytm Wallet using net banking, debit card, or credit card
- Send money to other Paytm wallets by scanning QR codes or phone numbers
- Pay utility bills such as gas, water and electricity bills
For Users:
- Recharge mobile phones, data card, metro card and DTH
- Pay landline, broadband and postpaid bills
- Pay school/college fee along with insurance premium
- Coupon code
- Cash back
- eCommerce marketplace (optional)
- User management
- Wallet management
- Digital payments module
For Admin:
- Coupon code & cash back module
- Customer support & feedback module
If you are planning for something close to Paytm, you need to focus on the wallet feature to start with… and take it from there. Paytm did the same too :
App Design: Most important thing is that a wallet app needs to be crisp & to-the-point. If people get lost/confused using your app, they aren’t going to trust you with their money.
App Platform (Android, iPhone): App development cost varies from platform to platform. And if you're targeting a local/semi-urban/rural market, we'd suggest you to start with an Android app first.
App size: If you're targeting a market where your users have a fair idea about the competition, app size becomes really important. A heavier app may result in your users shifting to a direct competitor. Always try to keep things as light as possible, to have an upper hand. Nobody likes his phone memory to be full.
Need a mobile payments and eCommerce kind of application!
Want Us to Make a Digital Wallet Ecosystem for You?
Andolasoft, a global web & mobile apps development company based out of San Jose, CA, USA with an offshore centre in India can help you develop a Paytm look-alike app that could give you a distinction in the market.
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Frequently Asked Questions
It completely depends on features and the level of customization. After you send your project requirements, our team evaluates and sends you the quotes. Schedule a call for discussion.
To develop a similar type of app like PayTM may take two to three week. It depends on the features and the level of customization. Schedule a call for discussion.
Yes, we do. Our developers come under the NDA criteria and follow all the confidential clauses.
Upto 3 month’s post-launch support is available by default. Our developers are flexible enough to add on additional services and for any kind of support. All you need to do is hold a discussion with our project manager to enjoy these services.
At Andolasoft, we follow Agile methodology. However, we have some of the customized web app development processes. Schedule a call for discussion.