Decoding the Dirhams: The Cost of Building a Digital Wallet App Like Payit in Dubai, UAE

Decoding the Dirhams: The Cost of Building a Digital Wallet App Like Payit in Dubai, UAE

Dubai, a hub of innovation and technological advancement, is witnessing a surge in the adoption of digital wallets. Apps like Payit have become integral to daily life, offering seamless transactions and convenient financial management. If you’re considering developing a similar digital wallet app in Dubai, understanding the associated costs is crucial. Let’s delve into the factors that influence the price tag and provide a realistic estimate.

Understanding the Core Features of a Payit-like App:

Before diving into costs, it’s essential to define the core features that drive development complexity and expenses:

  • User Registration and Authentication: Secure onboarding with KYC (Know Your Customer) verification.
  • Fund Transfer: Peer-to-peer (P2P) transfers, bank transfers, and international remittances.
  • Bill Payments: Utility bills, mobile recharges, and other service payments.
  • Merchant Payments: QR code scanning, NFC payments, and online checkout integrations.
  • Transaction History: Detailed records of all transactions.
  • Security: Robust encryption, fraud detection, and multi-factor authentication.
  • User Interface (UI) and User Experience (UX): Intuitive and user-friendly design.
  • Notifications: Real-time alerts for transactions and account updates.
  • Integration with local Banks and Financial institutions: Crucial for smooth operation in the UAE market.
  • Compliance with UAE Regulations: Adhering to regulations from the Central Bank of the UAE and other relevant authorities.

Factors Influencing Development Costs:

Several factors determine the overall cost of developing a digital wallet app in Dubai:

  • Complexity of Features: The more features you incorporate, the higher the development cost. Advanced features like international remittances, loyalty programs, and investment options will increase the price.
  • Platform (iOS, Android, or Both): Developing for both platforms will naturally double the development effort and cost.
  • UI/UX Design: A custom, visually appealing design will cost more than a basic template.
  • Development Team: The size and experience of the development team, as well as their location, will impact the cost. Hiring a local Dubai-based team might be more expensive than outsourcing.
  • Security and Compliance: Implementing robust security measures and ensuring compliance with UAE regulations is a critical but costly aspect.
  • Backend Infrastructure: The cost of servers, databases, and other backend infrastructure will depend on the expected user volume and transaction load.
  • Testing and Quality Assurance: Thorough testing is essential to ensure a bug-free and secure app.
  • Maintenance and Updates: Ongoing maintenance, updates, and support will incur additional costs.
  • Third party API integrations: Integrating with local banks, and other services will add to the cost.

Cost Estimation:

Providing an exact figure is challenging, but a rough estimate for developing a digital wallet app similar to Payit in Dubai could range from:

  • Minimum Viable Product (MVP): AED 300,000 – AED 600,000 (USD 80,000 – USD 160,000). This would include core features for one platform.
  • Full-Featured App (Both Platforms): AED 800,000 – AED 2,000,000+ (USD 215,000 – USD 545,000+). This would include advanced features, both iOS and Android versions, and robust security.

Breakdown of Costs:

  • Development (40-60%): Includes coding, backend development, and API integrations.
  • Design (10-20%): UI/UX design and branding.
  • Testing and QA (10-15%): Ensuring quality and security.
  • Project Management (10-15%): Overseeing the development process.
  • Legal and Compliance (5-10%): Ensuring adherence to regulations.

Key Considerations for the Dubai Market:

  • Regulatory Compliance: The UAE has strict regulations for financial technology. Partnering with a legal expert familiar with local regulations is crucial.
  • Cultural Sensitivity: Understanding the cultural nuances of the UAE market is essential for designing a user-friendly and culturally relevant app.
  • Partnerships: Establishing partnerships with local banks and merchants is vital for success.
  • Security: Building trust is paramount in the financial sector. Investing in robust security measures is non-negotiable.

Conclusion:

Developing a digital wallet app in Dubai is a significant investment, but the potential rewards are substantial. By carefully considering the factors discussed above and partnering with a reputable development team, you can bring your innovative financial solution to the dynamic UAE market. Remember to focus on security, compliance, and a user-centric approach to ensure success.

How to Build an Online Food Delivery App Like Talabat?

How to Build an Online Food Delivery App Like Talabat?

Technology is paving its way in food assistance. The ease and convenience of ordering food and quick deliveries are changing how food businesses operate. With the ease of ordering online, the growth in the online food delivery operation has shown a steep upward trend.

As per the report by Statista, the number of food delivery druggies in the Middle East region is anticipated to reach 5.5 million by 2026, with a penetration rate of 44.5 in 2022.

Moment’s tech- smart generation value the convenience of ordering online and entering quicker deliveries helping them in managing their busy schedules.

Grounded on the success of the food delivery app, Talabat, investors have shown a lot of inclination toward funding similar operations. This seems to be the perfect time to monetize the online food delivery business by creating a robust food delivery app like Talabat.

The rise in fashionability of similar apps is stable, and worldwide profit is anticipated to reach$ 320 billion by 2029. While COVID has formerly pushed us to use contactless delivery services, the use of technology in the future will also affect this sphere to introduce food deliveries by drones once they evolve to be more sustainable.

Also Read : How much does it cost to develop food delivery app ?

The on- demand food delivery assistance isn’t as youthful as one might suppose. What’s new is the disquisition of new fronts in the digital request, as it was uninhabited until 2013. The primary distinction between the traditional and new approaches to the food delivery assistance is that the ultimate gave the client access to the logistics associated with colourful caffs and allowed them to compare and differ the goods and services handed by colourful caffs .

Indeed though the food delivery assistance has seen growth over the last many times, there’s a lot of opportunity for refinement and excellence, especially when it comes to food delivery services. guests might be drawn in by a wide selection of caffs , a variety of food options, and easy payment styles. Thus, the critical need is to produce an app that offers these features.

request growth is relatively promising

The number of druggies and income generated by the delivery business are still amazing. As mentioned over, the request for this assistance is anticipated to touch$ 320 billion by 2029. But this isn’t the end.However, it’s now, If there was ever a moment to produce your own mess delivery app.

detect and remain in touch with your target request

A fantastic approach to engage your target followership, get in touch with them, and gain feedback is through an on- demand delivery app. The secret to operating a successful business is connecting with as numerous implicit guests as possible. You’ll be suitable to see an increase in guests if you produce an app analogous to Talabat that appeals to a large number of guests as before.

Convenience and openness to both possessors and guests

The benefit to consumers is clear. They get further options and better services. The possessors will benefit if they can respond to request demands as fleetly as possible by engaging with guests, enlarging their sphere of influence, and gaining dominance.

Crucial features of a food delivery app like Talabat

Talabat has been one of the most well- known food delivery services in the Middle East’s online mess delivery request for over a decade. Abdulaziz Al Loughani established the mess delivery service Talabat in Kuwait in 2004. In nations in the Middle East, Talabat has been known as a reliable food delivery app.

When Talabat was established, the food delivery sector had just begun to see the goods of the digitization surge. The business made the utmost of the untapped prospects available at the time by offering the people of the middle east an innovative new system of ordering food. The business expanded its client base by enabling guests to order food using their mobile bias accessibly.

Talabat app’s features are what make it the most popular mess delivery app in theUAE.However, then are the food delivery app features you should consider

If you want an app analogous to Talabat.From the client’s perspective

Only if the operation is optimised for an aesthetic sense and ease of navigation the druggies will choose your operation over others. Keeping in mind the requirements of the guests, the following features should be considered while creating an operation like Talabat.

Also Read : What Can Change The Way Food Apps Are Currently Running

Order tracking

Restaurant possessors can frequently modernise the order status using a real- time shadowing tool so that the delivery person can cover the order and pick it up when it’s set. Also, consumers may follow their orders via real- time delivery shadowing from the moment they place an order until the food is delivered.

Real image support

Guests are largely concerned about the position and cleanliness norms of the eatery they’re ordering from, indeed when they aren’t choosing to dine in. thus, it’s explosively advised that you give eatery and food images together with the address and the menu.

Client backing

There must be someone to communicate in the event of any vexation. A help office must be available for any requirements. These queries and complaints can give you feedback to ameliorate your services.

Billing options

Your food delivery platform must be secure with multiple payment gateways and offer a variety of payment choices for instant billing, like net banking, disbenefit cards, and credit cards.

From the delivery service’s perspective

The delivery agent, eatery, and consumers must work nearly together for the convenience of all parties involved. The inventor must aim for delivery- centric features like

A point that enables order status determination for quicker delivery and better administration. This should help you streamline the operation and prosecution of order deliveries.

A database for information about all delivery persons and their contact information. It should also track their order delivery history.

GPS shamus for information about the delivery position and the quickest way to get there. This point will also give them an approximation of delivery time.

A converse system for communication with cuffs and guests for speedy collaboration. The delivery person should also be suitable to direct the consumer to the eatery if necessary.

Frequent price deliveries so that delivery agents ’ morale and provocation can be boosted.

From the eatery’s perspective

The eatery partnering with you for food delivery should have the point of registering into your delivery platform. Having hookups with further caffs and quality caffs will attract further guests. The features must include the following

Registration of eatery mates with their names, streamlined menus, addresses, and contact information.

Order tracking system with drive announcements feature.

A converse system for communication with the delivery mates for better collaboration.

Options of multiple payment systems through your payment gateways.

Also, the operation must have the point of managing the below- mentioned three crucial business parties to add and authorise their class on your operation. This will also help you decide logical KPIs, furnishing you with further business openings or gaps that can be resolved in a timely manner. Charging freight to come to your mate will also become a source of profit, making your business profitable.

How to develop an app for food delivery like Talabat?

We’ve formerly talked about the desirable features of an ideal online mess delivery app. To achieve your thing and produce an operation for food delivery, having a reference app might be a veritably effective advantage. Then are comprehensive way you can follow to make an app like Talabat

Step 1 Conduct request exploration and define your niche

Prior to joining any new request field, it’s pivotal to understand the assiduity dynamics. To identify the request leaders and acquire perceptivity into current trends, one needs to take over rigorous contender and request exploration. Only also shall you start the process of developing a food delivery platform like Talabat. Completely examine your target followership and the request, as this will establish what your app needs.

Step 2 Prepare a business model

Your ultimate goal is to become a plutocrat. You need to suppose about how your app will help you with that. Thus, don’t forget to give your business plan’s prospects due consideration. Define the target request, marketing strategy, and monetization model. What strategies would you employ to keep your current clientele as well as draw in new bones ? When will your app start to make a profit? What are the chances going forward?

Make a list of the necessary features and integrations grounded on this. You can choose the capacities that inventors need to have. An assessment can help you determine what capabilities are present in your current platoon and who or what’s missing.

Step 3 Plan a profit strategy

Develop a profit strategy to monetize the food delivery app. Leading online food delivery companies like Talabat generally have four main income- generating channels

  • Price charged for each order
  • Announcements
  • Promos for caffs on- point
  • Class freights

Step 4 Put a platoon together and approach inventors

You need to make sure that you have both educated and specialised help in your platoon to put your studies and pretensions into action. In order to avoid any misconstructions and to ensure that you’re happy with the final affair, be sure to communicate all of your worries and conditions in advance with an estimable platoon of inventors.

Also Read : What is MVP is software development ?

Step 5 Make an MVP

Your internal view needs to be more focused. Separate the must-have- have features from the rest of the features if you really want to set your delivery operation piecemeal from the competition. Also, start developing your MVP. Make sure that brand strategists, inventors, and contrivers give the necessary consideration and perspective to produce an charming stoner interface because this is what the end stoner sees. Launching a primary draft and assessing the responses will help you validate your business idea before you commit a significant quantum of plutocrat.

Step 6 Run a test trial

Gain the feedback your MVP helped to gather. Together, decide which features were most constantly used and which were lacking. Who has penetrated your app the most constantly, and when? When creating your final product, concentrate on this information and make changes and advancements.

Step 7 Final release

Eventually, you can launch your app, but this is where the constant client backing and bug- fixing job thresholds. Be there to help your guests 24/7.

How Much Does It Cost To Develop An Food Delivery App Like Talabat

How Much Does It Cost To Develop An Food Delivery App Like Talabat

The food ordering mobile application is already on demanding phase and users are continuously increasing from day to day around the world . Tabalat is one of among those food delivery application which has gained enough popularity in UAE audience .  People are getting lazy , and willing to have access of all things right to their doorstep and so is it application are well playing their role on . It offer easy food ordering with fastest shipping option .

Competitors are always there is the market , but the king always stand out in the crowd and so is the same with Talabat app . Talabat is known to be one of the prominent name in food delivery application in Dubai and Kuwait and stands above all other app . User can search for nearby restaurant , can avail discounted price on food items and get the food delivered right at their doorstep. You will have access to all the information about food , restaurants , customisation available even before adding the item to cart for final delivery . Once you add the item to cart , you can pay for the order online by cash on delivery , credit/debit cards and more .

Tabalat was founded late in 2004 by an entrepreneur from Kuwait City . Since then it has gained huge popularity and that is the reason every second entrepreneur want to know the cost of creating app like Talabat , no matter whether they are individual / restaurant owner or big companies . Tabalat works on charging commission model from restaurants and this is the main revenue model .

If you are searching for mobile app development company in Dubai , UAE who can develop food delivery app for you , you can hire Winklix – one of the best mobile app development company .

Also Read : How much does it cost to develop an app like Swiggy or Zomato ? 

How Food Ordering Food App Works 

Any food delivery app or even tabalat in general have working generally divided into three apps . They are :

  • Customer / User App : This app is specifically made for customers wherein they can login / signup into the application , search for the nearby restaurants , avail offers and can order the food online at their place .
  • Restaurant App : As soon as the user orders some item , restaurant app will help restaurant owners who has signed up in the portal to receive the order , confirm for the order to be prepared and finally hand it order to delivery staff for final delivery to customers . Restaurants owners have to pay certain amount of commission to food delivery app owner as they are getting business from this app which in turn increases their revenue .
  • Delivery Boy App : Delivery boy are one who who finally delivery the delicious foods to customers . This app is meant for them to pickup the order , deliver it to customer and can also track their earning . At the same time with the help of delivery boy app , customers are able to track the food on real time basis .

Apart from the features and working listed above , food delivery app also contains tons of set of features on which costing of these app depends which are not limited to these functionality : 

  • Push notification 
  • CRM integration with app 
  • Real time tracking using google maps 
  • Real time analytics and reporting 
  • Refer and earn programme
  • Discount and coupons 
  • Social sharing and registration 
  • Multiple payment option to choose from 
  • Review and feedback from user about services , restaurants and more 
  • Multi currency and language support 

How Much Does It Cost To Develop An App Like Talabat 

Well the costing of these type of application totally depends on the sets of feature you are willing to implement in the app , on which platform you are first willing to launch your app and so on .
Considering you are willing to launch your mobile app on android and iOS platform along with the fully functional website , the costing ranges between $ 5000 – $ 50000 which totally depends on the amount of feature you want in that specific application . For developing app like talabat , all you need to do is to find a mobile app development company who can turn your expectation into reality . 
It is generally seen that this kind of application taken around 7 to 15 weeks of development time , which totally depends on type of features you are willing to have in your app .

Why Winklix ? 

Winklix has in house team of techies who is well known in mobile app development in Dubai who can ability of delivering highly polished mobile application . We have industry specialised experts who can delivery you quality website and applications at affordable price and on time delivery . Let quickly start with your next big project now .