App Cost, Make An App Like

How Much Does It Cost To Make An App Like Cred

The overall cost of developing a credit card bill payment app like CRED will cost you between $15,000 to $60,000.

Written by Niel Patel · 5 min read >
cred like app development cost

Development Cost Of Cred Like App for Android And iOS

The overall cost of developing a credit card bill payment app like CRED will cost you between $15,000 to $60,000. Quite a gap, isn’t it? It totally depends upon the chosen technology, charges of the partner company, number of functionality, level of security, etc. If a development partner company has already developed an app like cred, then it will cost you less. In this case, Cred like app will cost you around $10,000 to $35000. White label cred app will cost you around $15,000 with one year of maintenance.

Country wise development cost of Custom Cred like app

  1. India – $ 50,000
  2. USA – $ 2,00,000
  3. UK – $ 1,50,000
  4. Australia – $ 1,00,000

White label Cred like App Development Cost

  1. India – $ 25,000
  2. USA – $ 1,00,000
  3. UK – $ 70,000
  4. Australia – $ 50,000

How Much Does Cred Like App Development Cost Worldwide?

According to GoodFirms‘ recent research, the average cost of a basic app is between $38,000 and $91,000. The cost of a medium-complexity app ranges from $55,550 to $131,000. A complicated software can cost anything between $91,550 and $211,000.

So, to give a general estimate of how much it costs to construct an app (assuming a fee of $25 per hour), a basic app will cost around $90,000. Apps of medium complexity will cost between $160,000 and $170,000. Complex apps typically cost more than $240,000.

Type of appTime to developCost
Simple3-6 months$70,000-$100,000
Medium6-10 months$120,000-$170,000
Complex10+ months$200,000-$250,000+

Hourly Rate of Cred Like Credit Card Bill Payment App Development Cost

RegioniOS ($/hour)Android ($/hour)
North America150150
South America4337
Eastern Europe4040
how much money to create an app worldwide

Time and Money Required to Create a Cred Like App

To address this issue, it’s important to understand that not all mobile apps are created equal. And the disparity isn’t limited to the platform for which it was created. The time required to deploy specific app features is counted in the breakdown of both iOS and Android application development. Let’s make a classification based on reasonable time requirements.

  • A basic app with minimal functionality takes about 500-800 hours to develop. 3-6 months is the timeframe.
  • A medium-complexity software can take anything from 800 to 1200 hours to complete. Timeframe: 5 to 9 months
  • In most cases, a complex time-consuming app takes more than 1200 hours to complete. Timeline: 8 months or more.

Cost Estimation Breakdown for Cred App – Credit Card Bill Payment App

FeatureDescriptionApprox timeApprox cost with back-end (based on $40/h)
MapDetect user’s location search on the mapSet pickup point on the map75 – 111 hours3,000-4,440
PaymentsSee balance list of transactions add card Add PayPal60 – 78 hours2,400-3,120
StreamingStart/stop broadcastView broadcastSwitch between broadcasts90 – 140 hours3,600-5,600
CallsAudio callsVideo callsList of contacts257 – 365 hours10,280-14,600

Location and Structure of a Development Team For Cred App Development

As previously said, the location of your app development team has a significant impact on the ultimate pricing of the product. The cost of developing an app in the United Kingdom will differ from the cost of developing an app in the United States and other areas.

Title of EmployeeUnited StatesLatin AmericaEastern EuropeAsia
Business Analyst$110 – $205$45 – $55$40 – $63$30 – $42
Architect$198 – $292$60 – $72$50 – $77$35 – $48
Project Manager$133 – $233$55 – $66$45 – $70$35 – $48
Jr. Developer$105 – $111$35 – $44$25 – $42$18 – $24
Mid-Level Developer$132 – $140$30 – $52$35 – $56$24 – $35
Sr. Developer$154 – $163$45 – $55$45 – $70$30 – $42
Lead Developer$176 – $187$50 – $61$45 – $70$30 – $42
Junior QA$77 – $81$30 – $39$25 – $42$15 – $24
Mid-Level QA$99 – $105$35 – $44$30 – $49$20 – $30
Senior QA$143 – $169$40 – $50$40 – $63$25 – $36
Graphic Designer$79 – $163$40 – $50$35 – $56$25 – $36

The Cost of Maintaining a Cred App : Updated & Secured

Last but not least, think about how much it costs to maintain an app. It’s standard practice to spend between 15% and 20% of the initial app development cost on maintenance each year. Bug fixes, new features, and getting ready for a new OS version are all examples of app maintenance expenditures. It also depends on the number of features you want to add each year and how complicated they are.

The Business Model of a CRED Like Credit Card Bill Payment App

Kunal Shah, who previously invented the Freecharge app, is the founder of Cred. Cred is an internet program that pays users when they use it to pay their credit card bills. The main goal of this software is to make paying credit card bills easier and to motivate you to do so by rewarding you for doing so. There is simply one requirement: you must keep your credit score current with CRIF, Experian, and Cibil. Only those who have a score of 750 or higher are eligible for membership in the app.

How does this app make money? 

This business provides services to both users and banks. When they provide services to consumers, CRED collects all of the user’s personal information. The following details are included in the information:

  • Data on card transactions on a monthly basis
  • Information about credit cards, including the brand name and number.
  • Credit score and other relevant information
  • Profile of repayment
  • Patterns of spending or transactions

All of the information about users is vital to banks and other financial institutions, as well as individuals and businesses who can use it to provide additional services based on their financial profile. CRED’s business model is based on the monetization of such user data. Essentially, they profit off financial institutions and banks.

How Much Does it Cost to Develop a Payment App Like Cred?

Based on the study report Daily bill installments came to over $1M in everyday volume in only one year”.

Cred App Highlights

How much does it cost to create a CRED-like app?

The cost of developing a mobile application for a payment app like CRED is determined by a number of criteria, including, for example, the size of the app.

What Affects Development Cost in App Like Cred?

  • Platform used ( windows, iOS and Android)
  • Features and functionality
  • Customization of visual design (template or custom)
  • Application developer
  • Advanced features
  • Time consumption on an app
  • Development team
  • Country of development company
  • Backend infrastructure and app administration
  • Location and structure of a development team / type of developers
  • App maintenance costs and additional services
  • In-house or outsoursed development team

When you freeze the requirement with your hired mobile development business, the element to emphasize may alter. There is a fundamental concept driving the development cost of CRED like app: the more elements, the more money it costs to develop an application.

Platform, as I previously stated, is based on cost drives costly, and if you want to change the platform, it may change the expense. Because of the larger testing utility, the android stage costs more than the iOS stage. HOW MUCH DOES IT COST TO DEVELOP A PAYMENT APP LIKE THIS? Due to many feature testing, Cred on the Android platform will be more expensive than on the iOS platform.

Design is also responsible in the development cost of Cred like App

There is a wide range of structure that suits the right to install application, which can boost the client’s attention and keep them on your site longer. It’s also a driving force behind the Cost’s decision to create an online payment mobile app like Cred.

Planner of Content
Because content is king in the world of internet marketing, having a good content position in your app will lower your development costs.

Cost of App Development Company
The cost of developing an IOS and ANDROID application is also determined by the reason for communication. Engineers’ availability and static will have a greater impact on the cost of mobile app development.

Optional Feature
When we think of payment apps like Cred, Paytm, and Phonepe, we automatically think of consumer information. It is the obligation of the business owner to keep consumer information secure. We need the usage of the most up-to-date technologies to keep client information secure. It could be yet another factor driving up the cost of mobile app development.

Key features of credit card bill payment app like CRED

  • Quick pay 
  • Profile registration
  • Log in/ sign up
  • Card slab
  • Option to pay custom amount
  • One click payment
  • Reward slab
  • Reward categories
  • Wishlist
  • Request for deals
  • CRED coins
  • In app communication
  • Track payments

Some advanced features are:

  • CRED silver
  • CRED autosuggest
  • Max reward suggestion
  • Lifestyle chatbot
  • Rental advance
  • Fixed credit period
  • CRED gold
  • Card hub
  • CRED vault
  • CRED platinum
  • Financial advisory
  • CRED citizens

Technology used in an on-demand app like CRED

  • Application and Data:  Python, JavaScript, NGINX, Node.js, React, Java, HTML5, MySQL, PostgreSQL, Google drive, Redis, Amazon EC2, Amazon S3, Firebase, Amazon CloudFront, Android SDK, Google Cloud Platform, Spring Boot, Kafka, Flask, Go, DropWizard, Apache flink and Amazon SQS
  • Utilities: Postman, ElasticSearch, Shopify, Amazon SES, Mixpanel, Metabase,Lottie, Glide, AWS Key management service
  • DevOps: Git, Docker, Visual Studio Code, BitBucket, WebPack,Sublime text, Kibana, Xcode, Eslint, Selenium, Datadog, Gradle, Kong, Apache Maven
  • Business Tools: WordPress, Gmail, Slack, Jira, Trello, Confluence and Asana

Conclusion for Cred like App Development Cost

The total cost of establishing an on-demand software such as CRED will range from $20,000 to $70,000, Quite a gap, isn’t it? It will be determined by the characteristics and circumstances listed above. Apart from that, technology evolves on a daily basis, and as a result, development criteria and features evolve, resulting in cost variations depending on the technology employed. It is up to you to decide what you want in your app, and then the price will be determined.

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