Mobile wallets have become increasingly popular in recent years, with more and more people relying on them to manage their finances and make transactions. In this post, we will take a closer look at the mobile wallet market and discuss popular white-label software platform providers.

The global mobile wallet market is a rapidly growing industry that is expected to continue its growth trajectory in the coming years. According to a report by Allied Market Research, the global mobile wallet market was valued at $1.01 trillion in 2020 and is projected to reach $7.58 trillion by 2027, growing at a CAGR of 28.2% from 2020 to 2027. The growth of the mobile wallet market can be attributed to several factors, including the increasing adoption of smartphones and mobile devices, the growing need for contactless payment solutions, and the increasing preference for digital payment methods over cash and credit cards. 

Building such a product from scratch may take up to several years of development while implementing a ready-made white-label solution requires usually just a couple of weeks. White-label software platforms for mobile wallets are a useful solution for businesses that want to offer mobile payments to their customers without having to invest in developing the technology themselves. These platforms offer customization, cost-effectiveness, speed, and scalability, making them a popular choice for businesses of all sizes.

There are numerous providers out there that deliver such kinds of solutions. So, let’s have a look at top 5 companies when taking into account their pricing, integrations, compliance, and reputation.

Wallet Factory has 15 years of expertise in the financial and payments industry. It offers payment, banking, loyalty, and microfinance solutions. It doesn’t use AI or Blockchain in its solutions but its key success factors are its ability to deliver fully custom solutions and its impressive industry partnerships and success stories.

Velmie - a software company providing cloud-based solutions to banks and financial services companies globally. The company's white-label platform is built with a modular architecture, which allows customization and integrations for each individual client. This approach also brings greater scalability and makes the solutions future-proof. Velmie has a wide partner ecosystem and offers a wide range of integrations with banks, payments companies, and customization services.

Crassula - a FinTech software platform providing solutions for businesses to create financial products. Supporting launch, growth and development of FinTechs around the world. They started with a simple idea - to provide the fast and easy yet product-rich technological core for launching fintechs.

SDK.Finance - for almost 10 years, SDK.finance has been providing core fintech banking and payment engine to serve as a software shortcut for businesses looking to launch their fintech products, from digital wallets to neobanks, accommodating startups and enterprise-level customers.

Soft Space - founded in 2012, Soft Space is a leading fintech player in the APAC region headquartered in Kuala Lumpur, Malaysia. With over 24 financial institutions in 10 countries, Soft Space’s payment solutions simplify the existing financial legacy systems and creates value-added services to help businesses grow. Soft Space offers a White Label e-wallet solution, which offer partners with the opportunity to launch their own niched e-wallet to market segments. Partnering under Visa’s Fintech Fast Track program, this further expands Soft Space’s capability to enable partners to introduce their own Visa prepaid card.