Cash advance apps are financial solutions that offer users with early access to the money they have already earned. Users can avail the cash in advance long before their payday and payback after receiving their paycheck.
These services are often offered free of cost or for a nominal fee that users are kept aware of in the upfront. Cash advance apps are simply the replacement of credit cards or payday loans, except for the high-interest rates. It is an excellent option for users who live paycheck by paycheck and users who get paid bi-weekly or monthly, catering to their financial needs.
At Appdupe, we understand the importance of technology and its role in revolutionizing the finance and banking sector. The learning has helped us come up with our own cash advance app solution. Our team possesses extensive knowledge in the finance segment that has enabled us to launch successful finance app ventures in the past years.
It is common for businesspersons and entrepreneurs to have several queries when they embark on the journey of money advance app development. To address their questions and help them know the project better, we assign a project manager who communicates with the client and addresses their concerns until the project completion.
Every client has unique business ideas that push us to develop innovative app solutions that achieve their demands. We take every feature and module into consideration and curate the finance apps with the utmost attention. Along with development, our specialized team will also extend suggestions to enhance your financial services for instant success.
The nationwide lockdown inflicted in several countries due to the COVID-19 spread has left the global economy in a tailspin. Several companies are laying off their employees, while some have cut down the paycheck by half. With people confined to their homes, they can't find new job opportunities, as well.
In this frightening moment, it has become challenging to manage household expenses without a steady income supply. It is where payday advance apps come to the rescue, helping people in need of financial support. These cash advance apps allow users to avail of a certain amount of cash as an advance that they can pay back after a specified period, often without charging a single penny as interest.
The usage rate of these cash advance apps witnesses a steady surge amid the COVID-19 crisis. People are registering with these apps to fulfill their financial commitments. Join the prolific business segment by launching your cash advance app solution right away and earn a massive user base!
People use cash advance applications often due to several reasons, including:
Users can receive the requested cash advance in a day or less.
They can access the app 24x7 to avail of financial support without any hassle.
Users do not need to pay commissions or interests for the advance amount availed. They can just pay back the borrowed amount within the given period.
The credit score is not mandatory to avail of these app services, allowing even people with poor credit scores to advance cash effortlessly.
These applications offer additional benefits like overdraft protection.
User Signup / LoginUsers can register with the app using their email IDs or phone numbers. They can use the registered credentials for logging in.
Social Media IntegrationSocial media platforms are integrated into the app to allow users to sign up or log in via their social media handles for hassle-free onboarding.
OTP VerificationVerification codes are sent to users via email or SMS to confirm the credibility of their contact details.
Create ProfilesUsers can create and manage their profiles with details like name, contact number, salary information, and other related data.
KYC VerificationUsers can upload and verify the necessary documents required for confirmation of their identity.
Link Bank AccountsUsers can link their bank accounts to the app, with details such as bank statements and more, for transaction purposes.
Lending Amount CalculatorBased on the details provided, users are provided with the cash limit they can avail as advance cash.
Transaction DetailsUsers can view their entire transaction history here, along with all details of the transaction.
Generate InvoicesAutomated invoices are generated during the processing of each transaction for user reference.
In-App WalletUsers can pay back the borrowed amount via digital wallets integrated into the app.
Payment Gateway IntegrationUsers can process the payments through any of the secure payment gateways included in the app.
Pop-up AlertsUsers are informed about their upcoming payments, new feature integration, app updates, and many more.
Investment TipsUsers are provided with smart ways to cut down unnecessary expenses, investment advice, etc., for better financial performance.
Help CenterUsers can connect with the support team 24x7 to clarify their queries and address any technical glitch in the app.
The development of cash advance apps has several challenges. Our expert team of designers and developers at Appdupe addresses them by building a unique application that stands apart from your competitors.
Regulatory ComplianceWe strictly adhere to the rules and regulations inflicted by the concerned authorities and obey all General Data Protection Requirements (GDPR) during our cash advance app development. We take the utmost care in implementing these regulations while building the app without negotiating on its quality.
Data ProtectionIt is of paramount importance to safeguard the user data stored in the cash advance apps. These apps collect crucial information from users, such as personal information, bank account details, and related documents.
Hence, we protect our apps with end-to-end encryption backed by Blockchain technology. This way, we ensure that the data stored in the apps are safe and encrypted, preventing data theft and cyber-attacks.
Enriched User ExperienceThe success of mobile applications greatly relies on the app interface and the experience it offers to users. A disruption in the user experience might break the purpose of the app. So, we employ the best minds to design and develop apps that have an intuitive user-interface to offer a seamless user experience.
Connect with our support team right away to build a powerful app that defeats the challenges while boosting your app success!
The working of our cash advance apps is similar to that of payday loans, except for the high-rate interests. In the latter, people can loan a certain amount of money by providing their payslips and other necessary documents and pay back the lender after their next payday, along with the interest rate specified.
It is where the payday or cash advance apps differ. These apps allow users to cash part of their income in advance without providing their financial information. These apps withdraw the borrowed amount from the users' bank accounts when the next paycheck comes in, often without any additional interest/fee or a nominal fee. Often, these payday loans are short term to make it easier for users to pay back.
Some cash advance applications charge subscription fees on a monthly or annual basis, instead of interests for the cash borrowed. Often, these subscription fees are kept as minimum as possible. Also, some apps function by allowing users to offer a tip for each loan availed. It is often optional, and it is up to the users to decide the tip amount. Also, they can avail of the service even without tipping the apps.
In a nutshell, cash advance apps allow end-users to advance cash instantly without charging interests/fees, owing to the flexibility and adaptability of the app.
Sign up / Log in
Check Lending Limit
Avail Cash Advance
Pay Back After Receiving Paycheck
The apps we develop are integrated with high-end features and functionalities to make it more lively and interactive for enriched user experience. Below are those features that make your app user-favorite.
Lending Limit Calculator
Multiple Payment Gateways Integration
Advanced Analytics And Reports
Reliable And Scalable Functionality
Manage Customer Data
Multiple Authentication Support
IdeationFirst and foremost, we understand your project needs and app idea. We use the data collected from you to brainstorm and plan the project on time and budget.
App Design The application interface is the end that enables your users to communicate with your business. Hence, our high-end designers use top-notch tools to make innovative UI/UX designs to captivate user attention.
Back-end DevelopmentOur developers team integrate the app with advanced features and technologies to set up a robust back end. We ensure the app functions seamlessly, with advanced data storage capabilities.
Testing and DeploymentThe fully developed app is tested for bugs and other discrepancies, making it secure for deployment. After this, it is launched on the app platforms, Google Play Store and iOS App Store, to start its operations.
Our apps are powered with AI and Blockchain technologies to ensure secure transactions. Along with this, our development service offers a range of benefits, including the ones listed below.
User-Friendly InterfaceThe apps we built have an intuitive user interface, empowering app users to access them effortlessly for enhanced user experience.
Data SecurityOur apps are integrated with high-end technologies like Blockchain to enable end-to-end encryption, keeping user data safe and secure.
Native / Cross-Platform AppsOur developers excel in both native and cross-platform app development. You can choose the app type you wish to develop as per your business requirements.
Time-Effective SolutionsOur application can be readily developed in the quickest time possible with our cutting-edge tools and technology, allowing you to launch it in the market promptly.
API Integration Our team analyzes your project needs and assists you in integrating third-party APIs into your app for its seamless functioning.
Free Technical SupportWe provide technical assistance post-launch free of charge for a limited period. This way, you can run your business smoothly. After this period, you can avail of our paid maintenance support services at affordable prices.
We are available to discuss your project 24x7x365. Once we have an alignment about the details of the project, you are invited to see your requirements designed in front of your eyes at our development centre. Interact with our project manager, developers and designers regarding your platform. We will help you through the visa process and other travel hurdles.