UX Trends and Best Practices for Seamless eWallet Applications

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UX Trends and Best Practices for Seamless eWallet Applications

Blog & Engineering Insights

When it comes to User Experience (UX) trends in eWallets, I think companies should put an emphasis on UX writing, gamification, and contactless functions, especially as eWallets have become a key tool for numerous people and companies globally. The fact that eWallets are so simple to use and user-friendly has turned them into a top favorite for billions of users from all over the globe. This has energized the competition in this market, which in turn has driven a rapid cycle of growth in terms of design and functionality improvements.

Since UX can make or break users’ perceptions of a certain eWallet app, businesses must continually innovate their products and stay up to date with how their clients are interacting with their apps. Optimizing the UX architecture can make them stay ahead of the curve and grow their user base.

If you want to learn more about the importance of UX in eWallets in 2022, I’ve prepared a list of five trends you should be mindful of:

Trend #1: User-Friendly App Language

UX writing, also known as “the art of drafting the texts that appear in the eWallet”, is used to design buttons, error messages, functionalities, call-to-actions, and any other type of information. The goal of this process is to streamline the eWallet app’s language and to guide the user in his/her navigation through the intuitive interface.

UX writing can transform heavy prose, or language filled with jargon or industry terminology, into readily understood language that can make it easy for the end user to navigate the app. This improved language can transform in-app processes into less cumbersome tasks while also dramatically enhancing the user experience.

Trend #2: Remote Payments & Contactless Interaction

The COVID-19 threat has changed the financial business environment, making it mandatory for financial institutions to implement remote payment functions within their eWallet apps. One of these features includes using the phone’s camera to take photos and scan QR codes.

People can also use their smartphones to pay bills or scan QR codes for specific offers. This makes them feel safe while also making it easier for them to engage in financial operations. 

Trend #3: Kid-friendly Design

Another UX trend in eWallets is related to creating modern eWallets apps that can be used by kids. A growing number of fintechs and banks are now developing apps specially designed to equip kids and teenagers with the knowledge and skills to manage digital money. These apps can teach kids important lessons regarding saving money, spending it, staying out of debt, and making a profit. Thus, it’s important to ensure the developers integrate kid-friendly features and buttons within their apps.

Trend #4:  Made for Crypto

Despite some recent turbulences, the crypto market is on the rise. eWallet apps like Revolut have already started to integrate crypto-related capabilities, enabling users to seamlessly trade, buy, sell or send crypto assets, while also gaining the peace of mind that their crypto assets are safe from cyber-attacks.

Trend #5: Gamification and Loyalty Programs

According to Gartner, the term gamification involves “the use of game mechanics and experience design to digitally engage and motivate people to achieve their goals”. Together with loyalty programs, gamification leverages game-like elements to entice users to participate in specific activities or take certain actions.

In mobile wallets, gamification goes hand in hand with loyalty programs to provide significant benefits to the end-user and to enable them to track expenses and investments, gain personalized credit offers, or benefit from a higher savings rate on their accounts.

In the long run, this trend of gamification coupled with loyalty programs can drastically increase customer engagement, while also enabling fintechs and banks to gain access to precious client data that they can use to create better-personalized offers and bring more targeted products to the right audiences. 

To leverage this trend, UX designers need to decide which UX elements of an eWallet need to be gamified and what areas of the app should include loyalty programs.

About the Author

With almost 15 years of experience in the UX design niche, Vlad Chiratcu has helped numerous companies and freelance clients take their apps and website design to a whole new level of success.

Vlad is specialized in human-centered customer experiences across digital product innovation and technology transformation and is proudly managing Tremend’s extensive UX team.