Developing a Digital Wallet Like BenefitPay in Bahrain

Looking into eWallet development in Bahrain? Developing a digital wallet like BenefitPay means juggling design, compliance, tech stacks, and user experience, all at once. 

E-wallet app development like BenefitPay, allows people to handle their money properly. With these apps, transactions have become fast. In this domain, BenefitPay has set a high standard for what a digital wallet app can achieve. 

As per Statista, the global digital payments market is expected to grow to $9.5 trillion in transactions by the end of 2025. Back in 2022, there were about 8.5 trillion USD in global digital payment transactions, and adoption has increased substantially since then. Now, the number of global digital wallet users is expected to eclipse 5 billion by 2026, which would represent well over half the world’s population.

We will take you through the entire process and show what does or does not inflate the cost and what can make some solutions remarkable in a cut-throat market.

Let’s move forward and peek at wallet app development like BenefitPay. In this blog, we will understand the must-have features, the proper technology stack, benefits, how the app works, cost, and future improvements in the FinTech and e-wallet market.

So let’s get started! 

Some Remarkable Statistics of  BenefitPay

• The BenefitPay app has crossed 1 million downloads with an impressive 4.7-star user rating on Google Play. 
• In 2023 alone, BenefitPay handled over 345.4 million electronic fund transfer transactions.
•  Fawri+ transactions through BenefitPay climbed by 22.88% in 2024, reaching close to 410 million transactions. 
• The Bahrain Credit Reference Bureau, operated by BENEFIT, also recorded over 340 thousand credit report inquiries in 2023.

If you are serious about developing a digital wallet like BenefitPay then you must look into the features that we have discussed further. 

Top Features to Add During BenefitPay Clone App Development

A digital wallet app like BenefitPay facilitates multiple functionalities that allow users to make transactions, transfer funds, pay bills, recharge mobile phones, store payment Information, etc. 

Therefore, to build an app like BenefitPay successfully, you must consider incorporating the features mentioned below during the mobile wallet app development process. 

1: Enrolling payment instruments

Anyone who wants to build an app like BenefitPay should start here. People expect to store multiple cards in their digital wallet. Give them the freedom to add debit cards, credit cards, and prepaid cards with just a few taps. 

While working on BenefitPay app development, it’s smart to include extra layers of verification so people feel safe adding their card details.

2: Transfer Money to/from the Bank Accounts

One big reason people download a wallet is to keep their money moving. A smooth transfer process keeps users from feeling stuck with their funds. If you’re planning BenefitPay clone app development, focus on quick processing times and clear confirmation messages for every transfer.

3: QR code payments

No one wants to wait in line fumbling with change. QR payments make transactions quick and easy. Fortunately, everyone accepts QR codes now. When you build an app like BenefitPay, make this feature easy to find on the home screen so people can pay instantly without extra steps.

4: Bill payments

A big reason many people switch to digital wallets is convenience. With BenefitPay like app development, give users a way to clear utility bills, top up their mobile balance, or even pay for subscription services without juggling multiple apps. 

You can also add reminders for due dates and an option to repeat monthly payments so they never miss a deadline.

5: Transaction history

Everyone wants a clear picture of where their money goes. 

While working on BenefitPay app development, design a transaction history section that’s clean and easy to search. Let people filter by dates, categories, or merchants. Moreover, add downloadable statements so they can keep personal finance records when needed.

6: Card and account management

While developing a digital wallet like BenefitPay, never overlook the small controls. Let users edit card details, remove old accounts, change their default card, or even freeze a card if they lose it. People want to feel they’re in charge of every linked account inside the wallet.

7: Chatbot

People want quick answers, especially when money is involved. A simple chatbot that can handle common questions 24/7 saves everyone time. Your app must include support services for failed transactions, balance info, or how to link a new bank account. 

When you plan BenefitPay clone app development, a reliable chatbot can cut down support costs too.

8: Electronic cheques (e-Cheque)

Not every payment can be done with cards or QR codes. Many users, especially business owners, still rely on cheques for large sums. By adding e-Cheques while developing a digital wallet like BenefitPay, you give users a trusted way to handle high-value payments digitally. This also adds a layer of professionalism to your wallet.

9: Contactless payments

Paying with just a tap is becoming normal now. NFC-based contactless payments mean users can walk into a store, tap their phone on the payment terminal, and walk out. If you want your BenefitPay clone app development to match today’s user habits, make sure tap-and-pay works with major devices and operating systems.

10: Digital gift cards (Hadeya)

People love sending small surprises. Add digital gift cards so users can send money to friends and family for birthdays or holidays without running to a store. They pick an amount, write a short message, and send it instantly. This small feature keeps your app useful during special occasions and festivals.

11: Peer-to-Peer (P2P) Payments

Paying back a friend for lunch or splitting rent with a roommate should take seconds. P2P payments are one of the main reasons people switch to mobile wallets. While building a BenefitPay-like app, make it easy to send money directly to contacts, no matter which bank they use.

12: Security

No one wants to lose sleep over their money. Any good digital wallet should protect users with biometric logins like fingerprint or face ID, strong encryption, and alerts for suspicious activities. 

While doing BenefitPay app development, add smart fraud detection that can freeze shady transactions until the user approves.

13: Instant notifications

A small buzz on the phone telling you money went out or came in gives peace of mind. Real-time push notifications help people track every rupee spent or received. This is a must-have if you want people to trust your app.

14: Analytics tools for merchants

If you’re planning BenefitPay clone app development for both individuals and small businesses, give store owners an extra edge. Let them see daily sales, customer trends, and top products sold through the wallet. These insights help merchants make better business decisions and stick with your platform longer.

If you’re planning to build an app like BenefitPay, focus on these features to make sure your wallet stays useful, trusted, and easy to use every day. 

Also Read: How Much Does Mobile App Development Cost in Bahrain?

How to Create a Digital Wallet like BenefitPay: A Step-By-Step Guide

E-wallet app development like BenefitPay involves strategic planning and development. Let’s go through the steps to build a digital payment app for Android and iOS platforms, just like BenefitPay. The crucial steps are mentioned below:

Step 1: Define Your Product Goal

Before jumping into making your own BenefitPay app development, just be clear on what problem your wallet is actually going to solve. Make a list of core features like QR code payments, bill payments, bank transfers, or P2P transfers. When you have a clear vision, it becomes easier to plan your budget and choose the right tech stack for developing a digital wallet.

Necessary steps: 

• Analyze Current Market Trends
• Identify Your Target Audience (millennials, small businesses, or a global audience)
• Assess Your Competitors  ( Google Pay, PayPal, and more.) 

Step 2: Design an Intuitive Interface

A wallet app must feel effortless for everyone (young or old). If you want to build an app like BenefitPay, focus on simple navigation. Keep buttons where thumbs naturally reach, use large fonts for balance, and highlight important actions like ‘Send Money’ or ‘Pay Bills’. 

Necessary steps: 

• Place the most-used features like ‘Scan QR’ or ‘Send Money’ on the home screen.
• Design screens for onboarding, KYC, and card linking to keep them smooth.
• Run wireframes by real users for honest feedback before final UI design.

A good design turns first-time users into repeat users.

Step 3: Implement Security Measures

Security makes or breaks any digital wallet. While planning BenefitPay clone app development, add multi-level protection. Also, encryption should be used to keep data safe, and fingerprint or face ID login should be enabled for quick yet secure access. 

Necessary steps: 

• Add two-factor authentication for big transfers.
• Build fraud detection to spot unusual spending or logins.
• Follow local financial data laws during your BenefitPay clone app development.

A secure wallet earns trust and keeps people from uninstalling your app after bad experiences.

Step 4: Develop the Digital App

Here’s where your plan takes shape. Hire skilled developers with experience in BenefitPay, like app development. They help you build the features step by step, starting with adding payment instruments, then QR payments, then bills, and transfers. 

Also, use APIs for payment gateways and bank integration. Always keep performance in mind so the app stays light and loads quickly.

Necessary steps: 

• Pick reliable frameworks and tools that handle high transaction volumes.
• Integrate trusted payment gateways and banks.
• Set up instant push notifications for every transaction.

Build versions for both iOS and Android to reach a wider audience.

Step 5: Test and Deploy Your App to the Market

Before launch day, test every feature under real-world conditions. Check that payments don’t fail, transaction history updates instantly, and notifications reach users without delay. 

Moreover, test on different devices and network speeds. Once you’re sure, release your wallet on the app stores and get your first users on board.

Necessary steps: 

• Test multiple devices, screen sizes, and OS versions.
• Fix any bugs or payment failures immediately.
• Launch a small beta version and collect real user feedback.
• Once stable, release the full version to app stores.

Step 6: Upgrade and Maintenance

Building a digital wallet doesn’t stop at launch. Keep your BenefitPay app development fresh by fixing bugs, adding new features like loyalty rewards, and improving speed. Listen to user feedback; people will tell you what they love and what frustrates them. Keep updating, and your app will stay relevant for years.

Necessary steps: 

• Release new features like loyalty rewards or gift cards as people ask for them.
• Offer 24/7 support to handle transaction disputes quickly.
• Keep improving your BenefitPay app development based on user reviews.

Also Read: Government Services App Cost: A Complete Breakdown of Absher-Like App

Technology Stacks Used for BenefitPay like eWallet App Development

With all that said and done, it’s finally time to look at the BenefitPay digital wallet app development tech stack. There are different technologies that our developers help you choose to build your tech stack.

Also Read: How Much Does it Cost to Build a Mobile Banking App like Monzo?

Security Compliance for BenefitPay like App Development

To run a successful eWallet company, you need to follow all required regulatory compliances based on your country’s laws and financial guidelines. Usually, when developing a digital wallet app like BenefitPay, you should pay attention to these key security standards:

1: Data Privacy Regulations

Our team, when developing a digital wallet like BenefitPay, follows local and international privacy rules. Make sure you comply with laws such as GDPR, CCPA, or any country-specific data protection acts. 

Also, always ask users for clear consent when collecting personal information. Store only what you really need, and allow people to manage or delete their data anytime through their profile settings.

2: Multi-Factor Authentication

Single passwords aren’t enough anymore. While working on BenefitPay app development, our developers adds an extra layer of safety with multi-factor authentication. Combine something the user knows (a PIN or password) with something they have (a one-time code sent by SMS or email). For higher security, enable biometrics like fingerprint or face ID too.

3: Secure Data Transmission

When people share card numbers or bank details, that information must stay protected in transit. Always use strong encryption like HTTPS and SSL certificates. If you’re planning BenefitPay clone app development, run regular tests to make sure no data leaks while moving between the user’s phone and your servers.

4: Secure Data Storage

Any data saved on servers should stay safe from unauthorized access. Encrypt sensitive details at rest. Avoid storing full card numbers if possible. For developing a digital wallet like BenefitPay, always keep backup servers secure too, so recovery is possible after any breach or system crash.

5: Protection Against Fraud

Fraud detection must run in the background at all times. Build systems that flag unusual spending, logins from new devices, or too many failed attempts. Add temporary account freezes for suspicious activity. This step can save your BenefitPay app development from being misused by bad actors.

6: PCI-DSS Standards

Any wallet that handles card payments must follow PCI-DSS guidelines. These global standards keep cardholder data safe during processing, storage, and transfer. Make sure your team understands and implements PCI rules during BenefitPay clone app development. Use trusted payment processors that already meet these standards to reduce risk.

7: Regular Security Audits and Updates

Security is not one and done. Keep testing your wallet with regular audits and third-party checks. Fix weaknesses before hackers find them. Keep your BenefitPay like app development fresh with security patches and updates so your users can trust your wallet every time they tap ‘Pay’.

Also Read: 10+ Top Business Opportunities to Explore in the Middle East

How Much Does It Cost to Develop A Digital Wallet App like BenefitPay in Bahrain?

The cost to build a digital wallet app depends on many moving parts. There’s no fixed number because every app is different. Here are the key points that shape your budget for BenefitPay like app development:

• Your Target Platform: Are you building for Android, iOS, or both? Single-platform development is cheaper but limits your user base.
  
• Features and Functionalities: A simple wallet with just QR payments and bank transfers costs less than a full-featured BenefitPay clone app with gift cards, chatbots, analytics tools, and contactless payments.
  
• Technology Stack: Costs will change based on the tools, frameworks, and APIs you choose for your eWallet app development.
  
• Testing and Ongoing Maintenance: A portion of your budget should go towards regular testing, security checks, and upgrades to keep your wallet safe and working well.
  
• Location of Your Development Team: Hiring a mobile wallet development company in Bahrain usually costs less than working with developers in the USA or Europe.
  

As a rough idea, building a digital wallet app can start around $15,000 for a basic version with core features. For a full BenefitPay app development with advanced functionality, costs can easily exceed $100,000 if you add custom integrations or large-scale payment systems.

If you want a clear figure based on your idea, your next step is to get a detailed quote from an experienced mobile wallet development company. They can help you break down costs so you know exactly what to expect before you spend your first dollar.

Apptunix: Your Go-to Partner for Developing a Digital Wallet Like BenefitPay in Bahrain

We have covered everything that is required to build an e-wallet app like BenefitPay in Bahrain. But, needless to say, you need a reliable fintech app development company in Bahrain to realize your idea. This is where Apptunix shines. 

We have 11+ years of experience in delivering fintech app solutions for clients around the world. Our developers leverage the latest technologies to offer an unmatched user experience. With our feature-packed clone BenefitPay app development, you can drive real-world results in no time. 

Additionally, we understand what works in the Bahrain market and build your app to match local payment habits and compliance standards. 

So, what’s next? 

If you’re ready to start your BenefitPay like app development, talk to Apptunix and turn your idea into a wallet that people actually love to use.