Banking, Finance & Insurance
A Digital Wallet Solution Catering To All Types of Business Needs
- PRODUCT STRATEGY
- IA PLANNING
- ANALYSIS
- UX/UI DESIGN
- APP DEVELOPMENT
- iOS
- Android
About Monay
Monay is a Digital Wallet that serves flexible and cashless solutions for peer-to-peer money transfers and retail payments. It is an app solution that allows users to make instant digital payments to other retailers or businesses. It is a great medium to fasten the transaction process and the user doesn’t require to carry currency or electronic cards wherever they move.
It is quite a convenient platform that allows users to send money to other users via Monay Wallet balance, credit, and debit cards. Not only this, the user can even track all the payments along with their details that are made through the platform.
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Client’s Location
USA
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Development Time
06 Months
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Target Users
Merchants and Financial Institutes
Technologies Leveraged
We leveraged the strength of robust and secure technologies, tools, and frameworks used in the app/web to escalate the creation of new features and functionalities.
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NodeJS
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React Native
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Swift
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HTML5
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CSS
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Bootstrap
Identifying the Client Needs
Mobile wallet app has overcome the challenges of monetization and open the doors to financial access for millions of people who were otherwise excluded. But as a matter of fact, digital wallets are no longer a value store. mWallets are becoming access points for gaming, commerce, and loyalty. Our client had an eye for this industry and to greet the rise of online wallets in his country, he tapped his collected idea to create a peer-to-peer money transfer app. To build this online app platform, team Monay planned to hire Codiant- a Pro Mobile Wallet App Development Company.
Client Goals
Our client aimed to build a highly secure, convenient, quick and easy-to-use digital wallet that enhances overall user experience and compels users and merchants to prefer digital payment mode, rather than the traditional payment system. To deal with the issues a customer usually faces while making payment the following goals have been considered to develop the Monay-
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App Objectives
- A convenient way to pay, send, and request money
- Easy bank deposit and withdrawals
- Peer-to-peer money transfer
- Multiple payment mode options.
- Multiple methods of payment transfer
Mobile Visual Designs
Our UI/UX team developed hi-fi prototype after low-fi approval, through intuitive interfaces and aesthetically appealing layouts.
Development
Based on the well-designed high-fidelity prototypes and the client’s specifications, the development team built the platform from ground zero level. They ensured to integrate all the features and functionalities that are required for all the three stakeholders in the app version. For the User, Merchant, and Admin Panel the following functionalities were integrated to build the high-performing digital wallet app platform.
Easy Registration
Users can easily register and log in to their account with an email id/phone number and password.
Link Bank Account
Users can link their bank account by adding required details and following the steps accurately.
Add Balance
Users can add balance into the wallet from their linked bank account.
Transfer Money
Users can directly transfer money from their wallets to the merchant’s account.
Bill Payment
Users can instantly clear their bills by using the wallet amount.
Offers And Discounts
Users can avail of periodic offers & discounts that are provided by the admin or the merchant individually.
Check Balance
Users can check their wallet balance in no time.
Set Autopay
Users can enable autopay mode from their wallets for recurring payments.
Transaction History
Users can check all the previous payments made with details.
Receive Payments
Users can receive direct payments to their wallets from any individual.
Send Invites
Users can share the app link with anyone to invite them on the platform.
Earn Referral Points
Users can earn referral points on new joining and enjoy benefits.
Sign up/Login
Merchant can create their profile and quickly log in with email id/phone number and password.
Manage Customer
Merchant can manage their customer details and transactions to maintain transparency in accounts & finances.
Create QR Code
Merchant can share the QR code with the user to facilitate instant payment.
EMI Payment Options
Merchant can allow the user to make payments through EMIs.
Reward Points
Merchant can reward customers to promote payment digitally and quickly.
Promotional Offers
Merchant can lure customers by providing promotional offers.
Log In
Admin can log in to their account with an email id and password.
Merchant Management
Admin can manage all the registered merchants’ details, transactions, and other info.
User Management
Admin can track the details and transaction details of each user/customer.
Real-time Analytics
Admin can access all the details and transactions in real-time.
Revenue Management
Admin can keep track of all the transactions and manage overall revenue.
Security Management
Admin can handle data security and the sensitive information of users and merchants.
Project Outcomes: Evaluating the Impact
Monay has streamlined the user and merchant’s payment-related interaction through digital wallet mode and is making its users immensely satisfied. Considering the sensitivity of the user’s personal details and payment integration mode, Codiant took all the authentication and security initiatives to keep all transactions and users’ details secure. As we understand that in such types of platforms a microscopic-size of data breach could cause destruction.
- To make quick and seamless payments, Monay benefits customers with the ease and convenience of a digital wallet.
- Monay app incorporates advanced security features to maintain the data privacy of its customers.
- Offering loyalty program integration, digital wallet solutions, rewards, and cashback to encourage customer loyalty.
- Monay promotes contactless and touchless transaction experience to users at physical stores.
Read More Case Studies
Monay promotes contactless and touchless transaction experience to users at physical stores.
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