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. 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.

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The country-wise development cost of a Custom Cred-like app

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

White label Cred like App Development Cost

India – $ 25,000
USA – $ 1,00,000
UK – $ 70,000
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 app	Time to develop	Cost
Simple	3-6 months	$70,000-$100,000
Medium	6-10 months	$120,000-$170,000
Complex	10+ months	$200,000-$250,000+

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

Region	iOS ($/hour)	Android ($/hour)
North America	150	150
Australia	92	92
UK	71	71
South America	43	37
Eastern Europe	40	40
India	25	28
Indonesia	35	35

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 anywhere 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

Feature	Description	Approx time	Approx cost with back-end (based on $40/h)
Map	Detect the user’s location search on the market pickup point on the map	75 – 111 hours	3,000-4,440
Payments	Detect the user’s location search on the market pickup point on the map	60 – 78 hours	2,400-3,120
Streaming	Detect user’s location search on the market pickup point on the map	90 – 140 hours	3,600-5,600
Calls	Audio callsVideo callsList of contacts	257 – 365 hours	10,280-14,600

Location and Structure of a Development Team For Cred App Development

As previously said, the location of your app development team significantly impacts the ultimate pricing of the product. The cost of developing an app in the United Kingdom will differ from that in the United States and other areas.

Title of Employee	United States	Latin America	Eastern Europe	Asia
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 yearly maintenance. Bug fixes, new features, and getting ready for a new OS version are all examples of app maintenance expenditures. It also depends on how many 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, founded 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. One requirement is to 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. CRED collects all of the user’s personal information when they provide consumer services. 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, other financial institutions, and 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 from financial institutions and banks.

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

Based on the study report, Daily bill installments reached 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 several criteria, including the size of the app.

What Affects Development Cost in Apps 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 outsourced development team

The element to emphasize may alter when you freeze the requirement with your hired mobile development business. A fundamental concept drives the development cost of a CRED-like app: the more elements, the more money it costs to develop an application.

Platform, as I previously stated, is based on cost-driven cost, 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 tests, Cred on the Android platform will be more expensive than on the iOS platform.

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

A wide range of structures 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 Cost’s decision to create an online mobile payment 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 reason for communication also determines the cost of developing an IOS and ANDROID application. Engineers’ availability and static will have a greater impact on the cost of mobile app development.

Optional Feature

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

Key Features of Credit Card Bill Payment Apps 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

The 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 developing an app like CRED will range from $20,000 to $70,000. That’s 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. You must decide what you want in your app, and then the price will be determined.