Installment Payment Mobile Application

A leading financial services company approached Vrinsoft Technology Pvt. Ltd., a software development company, to develop a Card-Based Installment Payment Mobile Application. The purpose of the platform was to provide a service to the sender to pay the amount on a regular interval with a specific amount to the receiver considering the contract between them without any manual intervention.  

Technologies
  • React Native
  • PHP
  • MySQL
Platforms
  • Website
  • Mobile

Notable Milestones

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Goals

  • Mobile app for card based installment payment.
  • Enable users to register and login.
  • Allow users to add and manage multiple installment payments (loans) & credit cards.
  • Use a technology stack suitable for the development and implementation of the project.

Strategy

  • Plan an effective app development for accepting card based installments.
  • Choose the right payment gateway for installments. 
  • CMS development. 
  • Users should be able to view the transactions. 

Outcomes

  • Increased sales
  • Greater client satisfaction
About

Project Highlights

  • Development of a Card-Based Installment Payment Mobile Application. 
  • User registration and login with necessary credentials. 
  • Installment amount for the next month will be automatically deducted from the user’s credit card and held by the third-party financial arrangement entity Escrow.
  • Users can add and manage multiple installment payments (loans), credit cards, and receivers from the same account.

Our Client

The client is a prominent financial services company that recognized the need for a convenient and automated payment solution for installment loans. They approached us to develop a mobile application that would streamline the payment process and improve the user experience for both senders and receivers.

Client Requirement

  • Develop a Card-Based Installment Payment Mobile Application.   
  • Allow users to register and login with valid credentials. 
  • Users should be able to enter credit card and receiver’s bank account details to start installment payment cycle for any loan. 
  • Specify loan and installment amount, installment deduction date during submission of payment details.
  • Third party financial arrangement entity Escrow should hold installment amount for next month.
  • Escrow should transfer installment amount to the respective receiver’s bank account on selected installment date.
  • User should pay payment transfer fees with each transaction. 
Solution

Proposed Solution to fix operational process

We built a Card-Based Installment Payment Mobile Application that allows users to register and login, enter credit card details, receiver’s bank account details, loan and installment amounts, and installment deduction date. The application holds the installment amount on hold by a third-party financial arrangement entity and releases it on the selected installment date. The admin manages the entire platform from the backend admin web panel. 

The chosen solution effectively addresses the client’s needs and requirements while providing a user-friendly and seamless experience.

Key Features

Features

  • 01. Easy Registration Process

    User registration and login functionality.

  • 02. Financial Information Managment

    Credit card details and bank account details management.

  • 03. Card Based Billing Schedule

    Card-based installment payment cycle initiation and management.

  • 04. Secured Payment Arrangement

    Third-party financial arrangement entity Escrow integration.

  • 05. Payment Administration and Oversight

    Payment transfer fees management.

  • 06. Flexible Payment Choice

    Ability to add and manage multiple installment payments, credit cards, and receivers.

  • 07. Administrative Dashboard

    Admin panel for backend management.

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Benefits of the solution

The Card-Based Installment Payment Mobile Application developed by Vrinsoft Technology Pvt. Ltd. provides numerous benefits to both users and the client. The platform offers a convenient and automated way for senders to pay the installment amount on a regular interval with a specific amount to the receiver without any manual intervention. This saves time and effort for both parties, as the payment process is automated and managed by a third-party financial arrangement entity, Escrow. Users can manage multiple installment payments, credit cards, and receivers from the same account, and the admin can control the entire platform from the backend admin web panel. Additionally, the platform ensures secure payment transfers and eliminates the risk of fraud or error. Overall, the Card-Based Installment Payment Mobile Application streamlines the payment process and provides a hassle-free experience for both senders and receivers.

The Result

Successful implementation of the Card-Based Installment Payment Mobile Application would provide benefits to both the client and their customers.

Contact You Have A Vision. We Have A Way!

Please send us information about your project. One of our project managers shall evaluate your project requirements and give you a formal proposal. Detailed information will help us evaluate your project accurately.

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