What Is A Payday Loan App?


Payday loan apps are finance solutions that grant instant loans for people battling unforeseen cash requirements. These loans are often borrowed when the users’ payday is a few days away and are settled as soon as users collect their paychecks. Payday loans incur interests that are to be paid back with the principal amount before the due date.

These payday loan apps extend great support to people caught up with an immediate cash emergency, helping them to get through it until the next payday.

Payday Loan App Development - Launch Your Payday Lending App Today!


Payday loan applications help in overcoming the lapses in traditional money lending processes. These apps offer a reliable and flexible solution to carry out loan processes swiftly and efficiently. Such apps are gaining immense traction among potential users due to the quicker operations and the convenience they offer.

At Appdupe, we employ the most advanced technologies to build robust and scalable app solutions to help in leveling up your business. Integrated with the cutting-edge features, the app can help you in running the business effortlessly. Reach out to us to get them built at reasonable prices in the shortest turnaround time!

Growing Demand For Payday Loan Apps Amid The Covid-19 Crisis


The COVID-19 spread has turned the world upside down. The economy of several nations weakened, leading to losses of businesses. This sudden decline has forced several organizations to lay off their employees, leaving thousands and thousands of people unemployed overnight. Some companies have cut down the paychecks of their employees by half. These unpredictable situations have left people living from paycheck to paycheck to struggle for their daily bread.

This is where payday loan applications come to their rescue. These apps offer instant loans with interests to people facing unanticipated financial difficulties. They can payback these loans with interests during their next payday.

The daily active user rates of payday loan apps keep hiking with each passing day, revealing their popularity among the global audience. Join this prolific segment to gain a massive user base in a short period. We offer white-label apps solutions that can be personalized as per your business needs and instantly launched in the market!

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How Does A Payday Loan App Function?


Payday loan applications offer loans to users against their paychecks as security. Users should register with the app and submit a loan application with all necessary documents. After the application is verified, it will be approved or rejected. If approved, the loan will be granted to the users in the quickest time possible.

Users should link their bank accounts to the app. The app auto-debits the loan amount with interest from the checking accounts on the users’ next payday.


  • 1

    Registration

  • 2

    Upload documents

  • 3

    Loan limit calculation

  • 4

    Interest calculation

  • 5

    Link bank account

  • 6

    Apply for a Loan

  • 7

    Borrow loan

  • 8

    Auto-debit on next payday

Major Benefits Of Adopting A Payday Loan Management Software


  • Automated
    loan processes

  • Alternative
    credit-scoring systems

  • Agile
    business operations

  • Highly scalable
    software

  • Seamless integration
    of APIs

  • High-end
    server management

Notable Features Of Our Payday Loan Application


RegistrationUsers can sign up with the app using their email addresses or phone numbers. The registered credentials are used for log in purposes.

Create profilesUsers can create their own profiles by providing details, including name, age, photo, contact details, salary information, and more.

Upload documentsUsers can upload their documents effortlessly with this feature for verification purposes.

e-KYCUsers can verify their profiles by uploading the necessary information and documents. An e-KYC process is carried out for a smooth onboarding experience.

Loan limit calculatorUsers can calculate the loan limit they can borrow by providing the salary details. The automated system will provide the loan amount to lend by evaluating the shared data.

Interest rate calculatorUsers can provide the loan amount they wish to borrow to calculate the interest rate they incur.

Apply for loansUsers can choose a loan type and apply for it by submitting required documents for verification and selecting the loan amount and other associated details.

Loan statusUsers will be updated about the status of their loan processes from time to time.

Link bank accountsThe checking accounts of the users are linked to the app for receiving or paying back the loans.

Auto-debitOnce the users receive their paychecks, the loan amount will be debited from their checking accounts automatically, along with the interest amount.

Push notificationsUsers will be notified about the status of their loans, their payback period, etc., via in-app push notifications. These details can also be shared via SMS or email as per user preference.

Help and supportUsers can connect with the support team 24x7 to get their queries resolved with regards to their loan processes.

Intuitive dashboardThe admin can view and manage the overall activities taking place in the application to better manage the payday loan business.

Manage usersThe admin can manage all user information and processes their loan application after a thorough review.

Loan managementAll details of the loan, along with user data, can be managed by the admin effortlessly.

e-KYC verificationThe admin can verify the documents submitted by users to approve or reject their loan requests.

Analytics & ReportsThe analytical reports are generated periodically to give insightful data to the admin for making informed business decisions.

SettingsThe admin can change the app settings according to varying user preferences in the app's settings section.

Payday Loan Software With Complete Automation



AI-based scoring

  • Our payday loan apps follow an AI-powered alternative scoring system that stands apart from the traditional one. The loan applications are processed faster by using this intelligent scoring system, magnifying operational efficiency, and business growth.
  • Mass files of user applications are processed swiftly with the automation of the scoring system. The more agile credit decision process helps in offering an improved user experience and gives you a competitive advantage to scale up your business operations.



Customer board



Fraud prevention

  • Our custom-built apps embrace the latest fraud detection technology that is fully automated. Here, the system automatically detects and isolates fraudulent user applications by quickly recognizing fake documents and false information.

Novel Technologies Implemented In Our Payday Loan Software


  • Cloud storageAll details correlated with the app can be stored in the cloud space, empowering end-users with fast and smooth access to the app.

  • Fast loan originationThe loan approvals are processed quickly and securely with maximum accuracy, giving your business a competitive edge.

  • Automated loan managementOur applications are automated wherever possible for quick loan processing. It greatly helps in risk-based pricing and profiling processes.

  • Analytics & ReportingAnalytical reports are generated periodically to give you a clear insight into your loan processes. It assists you in the better management of your business.

How We Roll Out Our Payday Loan App Development?


Project assessmentFirst and foremost, we work with the client to understand their business demands and what they are looking for. Based on this, we evaluate the project requirements and the inputs we oblige to extend from our end.

UI/UX setupThe front end of the application is where the end-users will connect with your business. Hence, we keep it simple and straightforward to help the app users to navigate through it effortlessly. Also, we remodel our ready-made solution to suit your branding needs.

Back end customizationOur seasoned developers deployed the most advanced tools and technologies in the back end setup, making the app robust and reliable. The app is personalized as per your business model, and all required APIs are integrated seamlessly.

Testing and launchOnce the app is completed customized, it goes through a series of vigorous testing where all glitches and bugs are fixed iteratively. After this, we deploy the fully developed app on major app platforms to scale your business globally.

Why Makes Our Payday Loan App Development, Your Pick?


  • 24x7 supportWe extend our assistance to solve your queries associated with app development at any time of the day. The dedicated project manager for your app development will keep you posted on the project status periodically.

  • Seasoned experts We employ the best minds in the development of your payday loan app. The development team includes expert designers, experienced developers, qualified testers, and a skilled project manager to connect everyone.

  • End-to-end developmentOnce you opt for our app development solutions, we take the project's entire responsibility from start to finish. We research, ideate, design, develop, test, and launch the app for a global reach.

  • Foolproof technologyOur apps are integrated with an automated fraud detection solution to offer the utmost security. This way, user data, and other related information will be protected from third-party access.

  • Scalable solutionThe app can be restructured to suit any business model, helping you to adapt to the changing business environment in the coming days. It is owed to its highly scalable nature.

  • Time-effective, Budget-friendlyOur ready-made apps can be quickly customized and launched in the market in the shortest turnaround time. Also, the development cost is reasonable and covered within the client’s budget.

Technologies
That Power Of Our Payday Loan App Development


FAQ


Yes. Our development services are end-to-end, where our team takes care of the whole process seamlessly until the successful launch of the app. If the app submitted for launch gets rejected, we will analyze the issue discreetly and make necessary adjustments and deploy it again for submission. Thus, we will stay with you until the end of the project.

It varies from project to project, depending on the project needs. Also, factors including the technology stack deployed, feature-set to include, the app's business model, and more play a notable role in deciding the app development time. Hence, we evaluate your project and share an estimated time for your project once you get on board.

Yes. We build our app in such a way that it is readily customizable and highly scalable. You can modify it as per the changing business environment and user preferences without any hassle.

Absolutely. Our sole responsibility is to help you understand the entire app development process if you decide to opt for our app development services. We will assign a manager for your project to explain the complete process in detail and resolve your queries instantly. You can connect with him/her at any time of the day to clarify your doubts and receive updates on the project.

Connect with us over a call - +91 9791 101 817, email - [email protected], or through the chat option available on the website. Our support team will help you to get through our app development process.

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Disclaimer: Appdupe neither represents nor have any control over the trademarks of Airbnb, Amazon, TikTok and Gojek. We use the terms Airbnb, Amazon and Gojek for a better understanding of our services. Our offerings intend no harm to any organization or individual.

Disclaimer: Appdupe neither represents nor have any control over the trademarks of Airbnb, Amazon, TikTok and Gojek. We use the terms Airbnb, Amazon and Gojek for a better understanding of our services. Our offerings intend no harm to any organization or individual.

Disclaimer: Appdupe neither represents nor have any control over the trademarks of Uber, Airbnb, Amazon, TikTok and Gojek. We use the terms Airbnb, Amazon and Gojek for a better understanding of our services. Our offerings intend no harm to any organization or individual.