8 Digital Wallet App Success Stories [2024]

Updated: November 19th, 2023
Create A Digital Wallet App

A digital wallet is a financial transaction application that runs on mobile devices. In today’s digital era, people demand the freedom to purchase anything and be able to pay from their digital wallets.

With technological advancement, making digital payments has become easier than ever before. Anyone can use mobile payment platforms to pay and accept payments online. Therefore, creating a digital payments wallet can be a great business opportunity.

To create a digital wallet, conduct extensive market research and create a business plan. It would help if you could hire competent programmers to create a secure payment gateway.

Here are some real life success stories of starting a digital wallet app:

1. iCard ($18M/year)

Yavor Petrov, the CEO of iCard, and his co-founder Christo Georgiev, came up with the idea for their digital bank account alternative back in 2007. They wanted to innovate and redefine card payments, making them more accessible and affordable. They built a real-time transaction processing system integrated with major card schemes, and since the launch in 2017, the iCard app has gained around 500,000 downloads and is used by people in over 30 European countries.

How much they make: $18M/year
Current team size: 200

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How We Launched A $1.5MM/Month Digital Wallet and Financial Services Company

iCard is a leading e-money institution that offers a unique and 100% digital bank account alternative, with their app and services supporting the daily payments of people in over 30 European countries, and since launch in late 2017, the iCard app has seen around 500,000 downloads.

About
Yavor started iCard almost 16 years ago
Revenue
Yavor grew the business to $1.5M/month
Read by 9,941 founders

2. Finvault ($2.64M/year)

Punit Thakker, the CEO and co-founder of Finvault, came up with the idea for the digital wallet after recognizing the need to bridge the gap between traditional finance and decentralized finance (DeFi). With a background in fintech and cybersecurity, Punit and his co-founder Christian Papathanasiou aim to create an equitable financial ecosystem by providing a platform that allows users to manage all their bank accounts and crypto in one place. They have built a skilled team of developers and designers to bring their idea to life and are preparing for a phased launch into the UK and European markets.

How much they make: $2.64M/year
How much did it cost to start: $700K
Current team size: 13

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On Disrupting Fintech & Building A $2.6M/Year Digital Wallet

Finvault co-founder Punit Thakker discusses the digital wallet's mission to financially connect users worldwide by providing one platform to manage all bank and crypto accounts; the platform is due to launch with initial features, including a crypto exchange, and is projected to achieve a customer acquisition cost of $10.75 and lifetime value of $4,800 based on a two-year lifecycle assumption.

About
Punit started Finvault over 2 years ago
Revenue
Punit grew the business to $220K/month
Costs
It cost Punit $700000 to start the business
Read by 2,248 founders

So... can you actually make money with a digital wallet app?

Of course. There are millions to be made in this industry.

But how?

  1. Research real, profitable businesses and see exactly how much money they make.
  2. Study exactly what works, and what doesn’t.
  3. Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

Start Now

5. MetaMask

A crypto wallet & gateway to blockchain apps

Website traffic: 4.69M/month

article

So... can you actually make money with a digital wallet app?

Of course. There are millions to be made in this industry.

But how?

  1. Research real, profitable businesses and see exactly how much money they make.
  2. Study exactly what works, and what doesn’t.
  3. Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

Start Now

7. Digital Wallet

Where they're located: Nashville, Tennessee, USA
Website traffic: 1.61M/month

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8. Coins.ph

Coins.ph is the most convenient mobile wallet for Filipinos to buy load, make online payments, and trade digital currencies. Approved and regulated by the BSP.

Website traffic: 2.15M/month

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