With the evolving lifestyle of people, demand is also growing with each passing day. In recent times, at every step, people require money to spend. Humans can’t carry massive amounts of cash whenever they are going. Thus, rather than having money everywhere, you can pay digitally now.

Globally everyone is taking a step forward to make a zero-cash future. There are numerous digital payment options and utility service apps available in the market. This payment app, like Cred, has decreased the use of ATMs and checkbooks.

Similarly, there was one major issue of payment to charge the card tabs. To solve this payment app like Cred was brought into the market. Now let us learn more about the Cred app.

What is Cred App?

A payment app like Cred is a utility service app that offers its users rewards for clearing their credit card bills on time. These payment apps that use credit cards provide users with exclusive offers and access to premium experiences. With its payment app features, users can manage multiple cards and analyze their credit card scores through the app.

Above all of this, users also get access to pay credit card bills through this app when they meet the required CRIF score. With a payment app like Cred, it becomes easy for people to track every single action of their credit card journey.

Once you become a member of the Cred, then you’ll get access to unique rewards and offers provided by the app. All you require to do to become a member of Cred is to manage your credit scores.

These types of payment apps that accept credit cards have great demand in the market. People in business have already estimated its utility and have started to invest in payment apps like Cred.

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Business Model of an On-Demand Payment App Like Cred

Cred mobile app was founded by Kunal Shah, who is also the founder Freecharge digital payment app. Cred is a mobile application that offers rewards to users when they timely clear their credit card bills from Cred.

The main motto of this app is to make the payment of credit card bills easy and swift.

It also encourages users to pay the bills as it rewards in return. It only keeps one condition in front of its users.

They are required to maintain their credit score with CRIF, Cibil, and Experian. And if in case your score goes between 750 and more, then you are only eligible for the membership of this payment app like Cred.

How Does Cred Work?

The business model of the Cred app is fundamental and simple as its main motto is to reward the users for making timely payments of their credit card bills. Cred delivers users with the user’s Artificial Intelligence backed system that keeps track of every action made through the credit card. It keeps records of reminders, due dates, spending patterns, and other card usage details and statistics.

If you wish to become a Cred, a user must share all the information and data to provide them with access to an individual’s Cred score from credit bureaus like CIBIL. Users who meet the required credit score get access to become a member of Cred and enjoy all the app’s benefits.

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How Does a Payment App Like Cred Make Money?

Cred provides services to both banks and their users. When they provide exclusive offers and services to its users, Cred gathers detailed information about its users. This confidential information includes:

  • All the data of monthly transactions through credit cards.
  • All the information related to credit cards, like brand name, number, and many more.
  • It also asks about your overall credit score and other related details.
  • It keeps checking on your repayment profile.
  • Closely watch your spending and transaction pattern.

All confidential information is vital for the banks and other financial institutes. It also helps the people or companies who can use this information to deliver additional services depending on the economic profile of the user.

The business model of payment apps like Cred depends on monetizing such vital information from its users. So fundamentally, they make money from financial institutions and banks.

Significant Advantages of Using Payment App Features of Cred

☛ Online Payments Through Credit Cards

Cred-like payment apps that accept credit cards allow you to spare your charge card in the application. Similarly, you can also closely follow the installment due dates and mask up the taps honestly from the application.

If you want to clear your installments, you can use the charge card, net banking, or other UPI apps. The entire procedure of removing the installments is easy, smooth, and user-friendly.

☛ Compensations on Your Bill Payments

The payment app features credit provided with cashback on each exchange. So you would get an alternative to clear the bill soon after making the installment of more than Rs. 1000. It works more like a scratch card.

Here users will get a chance to win cashback from Rs. 10 to Rs. 1000. Their testimonials say that a lot of their bunch even got Rs—1000 as cashback.

☛ Cred Coins to Regain Endowments

With various payment app features, users can acquire Cred coins with each of their Mastercard installments. These coins can be utilized to get prices for online and digital shopping.

These help you to get great discounts and offers that would benefit you on your shopping.

☛ Suggest and Earn Cred Points

Users can reclaim their Cred points by getting discount vouchers from Uber and Amazon. The company will continue to provide you with alternatives later on.

For example, if you start with Cred, you will gain 10 diamonds for every referral code you provide. For the same, you get to reclaim the amount ₹150 on an uber ride. Further on, 30 diamonds can be claimed for a ₹750 Amazon voucher.

☛ Free Access to Cibil Score Report

With payment apps like Cred, you get an option to see your CIBIL score and record it as a consumer liberated from cost. For the time being, this payment application will show the financial assessment from CRIF and Experian.

In this provided point-by-point credit report, you get to see the installment history, charge card usage, and record time as a consumer.

Tech-Stack for App Development of On-Demand App Like Cred

☛ Data and Application:

JavaScript, Python, Node.js, NGINX, Java, MySQL, HTML5, Google Drive, PostgreSQL, Redis, Amazon EC2, Amazon S3, React, Amazon CloudFront, Firebase, Android SDK, Spring Boot, Google Cloud Platform, Flask, Kafka, Go, Apache Flink, DropWizard and Amazon SQS.

☛ DevOps:

Docker, Git, Bitbucket, Visual Studio Code, WebPack, Sublime text, Kibana, Xcode, Selenium, Eslint, Gradle, Datadog, Kong, Apache Maven.

☛ Utilities:

Shopify, Postman, ElasticSearch, Amazon SES, Metabase, Mixpanel, Lottie, Glide, AWS Key management service.

☛ Business Tools:

Gmail, WordPress, Jira, Slack, Trello, Asana, and Confluence.

How Much Does It Cost to Develop an App?

The cost of developing an app in India like Cred depends on various features and functionalities. The payment app features mentioned above do not include all the features of payment apps like Cred. Those were some basic payment app features that could benefit the users.

There is a list of other advanced features that can be added to your payment app, like Cred, but will affect the app development cost.

Parts, functionalities, and technology are some of the significant aspects of the structure of a payment app like Cred. Apart from the elements, several other features affect the cost of developing an app in India. Like:

  • Android, iOS, or Windows (platform opted for)
  • Content Planner
  • Designing of the app
  • Application developer
  • Advanced features
  • Development team
  • Time consumed by the app
  • Country of the development team

The overall estimated cost of developing an on-demand payment app like Cred can cost around $20,000 to $70,000. Further, the price might depend on the features and factors that have been integrated into your app.

Apart from all, technology is evolving day by day, and with this changing technology development criteria. Features also keep on upgrading, so the estimates on app development cost calculators might vary based on the technology used.

Everything is based on your requirements and expectations from your app. Once you decide, then the estimated cost will be calculated.


In this article, we have tried to specify the payment app features, how much it cost to develop an app, its advantages, and many more.

With a detailed explanation of the features and benefits, we have tried to understand the requirement to install and generate such applications.

Look out for a top mobile application development agency to build applications with progressive, secure, and simple-to-use highlights.

21Twelve Interactive is a web and mobile app development company situated in Ahmedabad, Gujarat. The app development experts timely deliver your project with their custom-made solutions.

Suppose you are also hoping to build your payment app like Cred, then you must connect with us and place a request to develop your payment app.

Share your idea and get the estimated cost for developing a payment app like Cred.

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payment app like cred


The average credit card processing fee is a percentage of the payment processed. It varies from one transaction to another. The discount rates differ from 1.5% to 3.5% depending on the types of credit cards and various modes of payment.

Usually set by credit card networks, the processing fee of a credit card differs from one service provider to another based on the card network it is related to. The processing fee loaded to a specific retailer also depends on several factors including the credit card processing method.

Cred, the payment app makes money by charging a listing fee for the products and offers the businesses a wish to display to the app users. Payment apps like Cred are likely to charge users a transaction fee of 1% to 1.5%, depending on the user’s credit card network.