BNPL transactions have already exceeded $100 billion in the U.S. alone, and the global market is projected to reach a staggering $9.2 trillion by 2032.
The timing couldn't be better to develop a BNPL app like ViaBill. BNPL services attracted 360 million users in 2022, and this number will soar to 900 million by 2027 - representing a 157% increase! Entrepreneurs and developers worldwide have taken notice of this remarkable growth.
Creating an app like ViaBill puts you in a market growing at 43.8% CAGR, with potential to reach $3268.26 billion by 2030. ViaBill's success speaks for itself with roughly 1 million active users in Denmark, showing new players can thrive with the right strategy.
BNPL apps have gained popularity by letting customers split purchases into installments. ViaBill's users can spread payments over 24 months without interest or fees. Merchants receive payment right after the return window closes and pay a modest 0.75% transaction fee.
This piece outlines the process of building a ViaBill-like app from scratch. We'll help you understand the market and choose the right tech stack as we walk through each crucial step. Let's head over to creating your successful BNPL solution!
Understand the BNPL Market Landscape
BNPL (Buy Now, Pay Later) has revolutionized retail purchasing habits. This short-term, interest-free credit option steadily grows popular across global markets, making now the perfect time to develop a ViaBill-like BNPL app.
BNPL growth trends and user behavior
The BNPL sector has grown remarkably since 2019. 9% of all consumers used BNPL services by fall 2023, showing a 40% jump from two years ago. The momentum continues - 21% of credit record holders funded at least one purchase through BNPL from major lenders in 2022.
Here's what drives this growth:
- Rising transaction volumes: Daily BNPL purchases surged from $7 million in 2019 to nearly $100 million by 2022
- Seasonal spikes: Holiday seasons push BNPL spending to $150 million daily
- Repeat usage: Average yearly BNPL loans per borrower rose from 8.5 in 2021 to 9.5 in 2022
BNPL usage reveals clear demographic patterns. Women, Black, and Latino consumers, along with financially vulnerable groups, show higher adoption rates. People with low FICO scores (below 600) lead adoption at 23%, while those above 800 lag at 2.8%. Middle-income earners ($50,000 to $75,000 yearly) represent the largest user group.
Why BNPL is replacing credit cards
Young generations increasingly choose BNPL over credit cards. Several factors fuel this trend:
Clear terms and predictability draw users in. BNPL offers straightforward, interest-free installment plans, usually four equal payments over six weeks. Budget-conscious consumers appreciate this simple approach, unlike credit cards' revolving balances and potential high interest.
Easy access makes BNPL attractive. Traditional credit cards demand thorough credit checks, but BNPL services run "soft" checks, welcoming consumers with lower credit scores or limited history. BNPL approval rates climbed from 67% to 79% between 2020-2022, thanks to counteroffers rather than rejections.
Cash flow management becomes easier with BNPL. Users often show increasing credit card usage before trying BNPL, suggesting limited credit card funds push them toward these options. Young users aged 18-24 made 28% of their unsecured debt through BNPL in 2022.
BNPL users still keep their credit cards. Both users and non-users own credit cards equally, but BNPL users tend to carry credit card balances more often, 71% compared to 40% of non-users.
Key players: Klarna, Afterpay, ViaBill
Major companies shape the BNPL landscape with unique offerings:
Klarna, Sweden's fintech leader, serves the European market through 400,000+ merchant partnerships. Their "Pay in 4" interest-free installments attract many customers. Recent AI-powered personalization enhances user experience with custom repayment plans.
Afterpay (known as Clearpay in Europe) attracts younger consumers with its user-friendly platform offering four-installment payments. This Australian company competes globally, standing strong in Europe alongside Riverty.
ViaBill serves about 1 million active Danish users. The company stands out by offering interest-free installments up to 24 months, unlike typical six-week plans. Regional players like Scalapay in Italy and Alma in France share the market.
Seize Your Opportunity in the Fintech Market
Don't miss the chance to enter a rapidly expanding industry. Contact our team to define your unique value proposition and enter the market with confidence.
Define Your App's Unique Value Proposition
You need to carve out your own space in this competitive field after understanding the BNPL market landscape. A successful BNPL app needs more than just copying ViaBill's features. You should establish a clear, compelling value proposition that strikes a chord with specific users.
Target audience and niche selection
The BNPL ecosystem needs you to identify who your app will serve. Your focus should be on specific segments where you can excel instead of targeting everyone:
- Demographic niches: Gen Z shoppers (ages 18-24) make 28% of their unsecured purchases through BNPL services
- Vertical-specific solutions: Healthcare, education, or travel sectors need specialized BNPL options where high-cost purchases create financial stress
- Underserved markets: Emerging economies offer opportunities beyond saturated regions where BNPL adoption remains new
Your choice of target audience shapes everything from features to marketing. To name just one example, younger users need mobile-first design while business-focused BNPL solutions need reliable reporting tools.
How ViaBill separates itself
ViaBill's success comes from several key factors:
The company offers flexible payment terms that allow installments over 24 months instead of the usual six weeks. This helps consumers make larger purchases.
Their consumer-friendly policies include interest-free financing with minimal fees. The revenue comes from merchant fees (about 0.75% per transaction), making it attractive for end users.
Strong merchant partnerships with simple integration set them apart. Stores can implement payment options easily through their developer-friendly API, which helps grow their merchant network.
The company builds trust through transparency. Clear repayment schedules and straightforward terms are vital in financial services.
Crafting your app's core offering
Here's how you can develop your own distinctive BNPL app based on market analysis and ViaBill's approach:
- Pick your main strength: You can compete through payment flexibility, approval rates, merchant benefits, or something new. Excel in one area better than others.
- Create value for users and merchants: Your revenue model should work for both merchants (through fees) and consumers (through potential late charges).
- Make onboarding quick: First impressions last. Ask only essential information and use soft credit checks that won't affect users' credit scores.
- Add fresh features: Budget management tools, spending insights, or rewards for on-time payments can set you apart.
- Build trust: Clear terms and honest communication help retain users who often feel anxious about finances.
A BNPL app like ViaBill needs both new ideas and tested approaches. A strong foundation comes from defining your value proposition around specific audience needs in this fast-growing market.
Plan the Core Features of Your BNPL App
Building a BNPL app like ViaBill needs the right mix of core features to attract both consumers and merchants. Your app can stand out in this competitive market by combining the right payment options, user experience, and merchant tools.
Split payments and flexible schedules
Payment structure forms the heart of any BNPL app. Research shows most providers use a "pay-in-4" model that splits purchases into four interest-free installments over six weeks. Your app can invent new ways to stand out:
- Payment term options: You could offer various repayment periods - from standard 6 weeks to longer 24-month plans for bigger purchases
- Interest models: Give interest-free options for shorter terms, with variable interest rates (9.99-35.99% APR) for longer payment plans
- Minimum and maximum limits: Most BNPL services cover purchases from $30 to $1,500 for short-term plans and up to $10,000 for longer financing
Studies show that BNPL can increase average order values by 20-40%. These flexible payment structures appeal to both consumers and merchants.
Virtual card and in-store payment support
BNPL started online, but in-store integration is crucial now. Virtual card features expand your app's use beyond e-commerce:
Digital wallet integration comes first. Virtual cards should work naturally with Apple Pay, Google Pay, and Samsung Pay for contactless transactions. Users can shop at physical stores without changing their payment habits.
One-time virtual cards come next. These cards last 24 hours after approval and help manage risk while offering flexibility. They work great for in-store purchases where direct integration isn't available.
QR code payments add another layer. Markets with low card adoption benefit from QR payments that connect your BNPL service to physical retailers.
Afterpay's subscription-based premium cards ($5.99 monthly) expand merchant acceptance networks. This model might work well as your app grows.
Spending insights and transaction history
BNPL users today want more than just payments. They need tools to manage their money:
- Transaction monitoring: Clear dashboards show past, current, and upcoming payments
- Payment date flexibility: Users can change payment dates when needed during tight financial times
- Budget visualization: Users learn how BNPL commitments affect their overall finances
Merchant integration and loyalty rewards
Your BNPL solution must bring profit and be easy for merchants to use:
Simple API integration tops the list. We built APIs and plugins that need minimal coding for e-commerce platforms. A faster-growing merchant network comes from easier implementation.
Processing rates need careful planning. Most BNPL services charge merchants 2-8% per transaction. Competitive rates for physical stores (around 2.6% + $0.30) versus online (6% + $0.30) can boost adoption.
Loyalty programs are now crucial in BNPL services. You might want to add:
- Tiered rewards: Gold, platinum, and premium tiers with better benefits
- Merchant partnerships: Special deals with partner brands like Nike or Starbucks
- Point systems: Points for on-time payments that work at participating merchants
These loyalty features drive usage up. Afterpay's data shows customers with BNPL options shop 50% more often than traditional customers.
A well-designed BNPL app with these core features can compete with established players like ViaBill. It creates value for both shoppers and merchants.
Turn Your Feature List Into Reality
Ready to build a BNPL app that users and merchants love? Let's validate your core features and design a roadmap for a successful Minimum Viable Product.
Ensure Legal Compliance and Risk Management
Legal compliance forms the foundation of developing a BNPL app like ViaBill. Regulators worldwide have tightened their oversight of BNPL services to protect consumers and merchants.
Understanding BNPL regulations (e.g., TILA, GDPR)
The rules for BNPL providers have changed significantly. The Consumer Financial Protection Bureau (CFPB) in the United States released an interpretive rule that classifies BNPL providers as "card issuers" under Regulation Z and the Truth in Lending Act (TILA). Your app needs to:
- Set up billing error dispute resolution requirements
- Stop disputed payments during investigations
- Add disputed amounts back to consumer accounts when billing errors happen
The Office of the Comptroller of the Currency (OCC) expects banks that offer BNPL loans to provide safe services, fair access, and proper consumer treatment.
The EU Consumer Credit Directive now covers BNPL products with regulatory protections. The UK's Financial Conduct Authority (FCA) requires all unregulated BNPL providers to get authorization to keep operating.
Soft credit checks and user verification
These regulations make proper user verification essential. BNPL providers typically use "soft" credit checks that don't hurt users' credit scores. However, these checks might not show up in borrower credit histories, which lets users take multiple BNPL loans at once.
Your identity verification should go beyond sign-up:
First, set up mandatory Know Your Customer (KYC) checks that need ID cards, proof of address, face verification, and biometric data.
Second, check customers throughout their time with you, not just during onboarding.
Third, add advanced authentication like 3D-secure (3DS) at payment points. This needs multi-factor authentication through passwords, usernames, single sign-on, SMS, or biometrics.
The biggest problem? You need to balance thorough checks with speed and convenience. Phone-based identity verification tools can speed up onboarding while stopping fraud.
Fraud detection and behavioral analytics
The BNPL market will grow beyond USD 3.00 trillion by 2030, but this growth attracts clever fraudsters. Common threats include:
- Synthetic identity fraud - Mixing stolen and fake data to create seemingly real identities
- Account takeover - Getting into existing accounts without permission
- First-party fraud - Users who plan not to pay or file false chargebacks
- Bot attacks - Automated systems flooding applications
AI and machine learning tools can help curb these threats by checking transaction data quickly. Your system should flag suspicious patterns like multiple logins from different devices, repeated payment attempts with one card, or attempts using stolen details.
BNPL's structure creates specific risks, including higher first payment default risk. Bank transactions don't settle instantly, so the first payment (usually 25% of the loan) might fail if there's not enough money when the transaction clears.
Note that fraud prevention is just one part of staying compliant. A single global platform that combines KYC, KYB, AML, and fraud prevention services offers the best security.
Design a Seamless and Secure User Experience
Your BNPL application's user experience bridges technical functionality and customer adoption. An easy-to-use interface attracts users and keeps them using your financial service.
UI/UX best practices for financial apps
Financial app development needs to balance simplicity with functionality. Clean, uncluttered interfaces that show transaction details clearly should be your priority. This includes categorization and merchant attributes. Research shows this clarity reduces customer churn rates by a lot.
Your app should have proper button and field labels to support screen readers, making it available to users with visual impairments. Strong visual contrast (minimum ratio of 4.5:1) for text and images helps users with low vision.
Key elements to make financial UX work include:
- Clear error messages with detailed explanations and solutions
- Action confirmations after completed transactions
- Multi-modal feedback combining visual, auditory, and haptic cues
- Descriptive links and buttons (use "Submit Payment" instead of "Click Here")
Mobile-first design and accessibility
Mobile phones have become "a bank branch in every customer's pocket" in today's connected world. This makes a mobile-first approach essential for any new BNPL app.
Mobile-first design goes beyond responsive layouts. It puts frequently used features first, like account balances, recent transactions, and payment schedules. BNPL apps should prioritize quick access to payment schedules and remaining balances.
Accessibility features are the foundations of good design, not afterthoughts. About 1.3 billion people worldwide live with major disabilities, representing a huge market segment. A 2024 survey showed that 76% of disabled consumers stay loyal to companies with available options.
Your app needs these features to be fully available:
- Screen reader compatibility with ARIA labels and alt text
- Voice command support for navigation
- Adjustable text sizes and customizable color settings
- High contrast modes for visual impairments
Security protocols: tokenization, encryption
BNPL apps need strong security because hackers target them often due to their simple credit application processes. These apps hold sensitive data that needs advanced security measures.
Tokenization changes sensitive payment data into non-sensitive tokens, replacing card numbers with random character strings. Original data stays in a secure vault while tokens handle transactions. Intercepted tokens are useless without access to the token vault.
Encryption turns plaintext data into unreadable ciphertext using mathematical algorithms. The best protection combines both approaches, encrypted tokens offer stronger security than either technology alone.
Your security implementation should have:
- Biometric authentication (fingerprint, facial recognition) for quick, secure access
- Multi-factor authentication that stays user-friendly
- Protection against overlay attacks that show fake screens above payment fields
- Code obfuscation to prevent reverse engineering
Note that security shouldn't make your app hard to use. Consumer Reports' analysis showed that PayPal ranked highest in BNPL safety because it balanced strong security with user-friendly interfaces.
Choose the Right Tech Stack and Architecture
Selecting the proper tech stack forms the foundation of your BNPL application. The right combination of technologies will support your app's scalability, security, and performance, critical factors for financial applications that handle sensitive user data and complex payment workflows.
Frontend: React Native or Flutter
For cross-platform mobile development, React Native and Flutter stand out as top choices when you create an app like ViaBill:
React Native offers several advantages:
- JavaScript-based development familiar to many developers
- Hot-reload feature that accelerates development cycles
- Extensive ecosystem of libraries and packages
- Native components access for platform-specific features
Flutter, alternatively, provides:
- Single codebase deployment across iOS, Android, and web platforms
- Native-like performance with smooth animations
- Hot-reload capability for rapid iteration
- Rich customizable widgets for appealing visual interfaces
Backend: Node.js, Python, or Java
Backend selection directly impacts your application's ability to handle financial transactions securely:
Node.js excels with its event-driven, non-blocking I/O model, perfect for real-time applications like BNPL services. Its vast ecosystem of libraries supports rapid development of secure payment systems.
Python offers advantages for risk assessment algorithms and credit scoring logic. Its data science capabilities allow for sophisticated user analysis and fraud detection systems.
Java remains a solid choice for enterprise-grade security and stability. Many financial institutions trust Java for its robustness in handling sensitive transactions.
For maximum scalability, a microservices architecture using these technologies enables independent scaling of individual services: payment orchestration, risk engine, ledger systems, and merchant portals.
Cloud: AWS, GCP, or Azure
Cloud infrastructure powers modern BNPL platforms, offering scalability on demand:
AWS provides comprehensive financial services compliance frameworks, making it popular among fintech developers. Services like AWS Lambda support serverless architecture for cost-effective scaling.
Google Cloud Platform (GCP) offers powerful machine learning capabilities, valuable for risk assessment algorithms and fraud detection.
Azure appeals to enterprises already using Microsoft technologies, with strong integration capabilities and robust security features.
Regardless of provider, cloud computing enables BNPL platforms to scale dynamically based on demand, providing high availability and data redundancy, critical for financial applications.
Third-party APIs: Stripe, Experian, Onfido
No BNPL app exists in isolation. These essential third-party integrations accelerate development:
Payment processing APIs like Stripe, PayPal, or Braintree handle the complex payment workflows. These services manage transactions, installment processing, and multiple payment methods while maintaining PCI compliance.
Credit bureaus such as Experian, Equifax, or CIBIL (region-dependent) provide data for credit checks. Integration with these services allows for soft credit inquiries without impacting users' credit scores.
Identity verification services like Jumio or Onfido help meet KYC requirements. These solutions verify government IDs, address proof, and biometric data to prevent fraud and comply with regulations.
Banking connections through Plaid or similar services enable account verification and facilitate direct bank payments.
Basically, choosing the right tech stack requires balancing performance needs, development speed, and security requirements, ultimately determining how well your BNPL app will perform in the market.
Develop, Test, and Launch the App
Building a BNPL app like ViaBill needs careful execution from idea to launch. Your vision comes alive through structured development, thorough testing, and smart deployment once you pick your tech stack.
Agile development and MVP planning
The agile method splits your BNPL project into smaller sprints that create transparency and flexibility during development. Teams can quickly iterate and adapt based on continuous feedback.
Your Minimum Viable Product (MVP) should focus on essential features:
- User registration and KYC verification
- Simple payment splitting functionality
- Essential merchant integration
- Core security protocols
"If you have a clear vision and a product ready with the most critical features, building an MVP is an excellent way forward," notes financial app experts. This targeted approach lets you gage market response before adding advanced features.
QA testing: performance, security, usability
Quality assurance plays a vital role before your BNPL app goes live. A solid testing strategy needs:
- Functional testing - Check if all features work properly, from payments to KYC verification
- Security testing - Run penetration tests to spot vulnerabilities
- Performance testing - Check speed, scalability, and resource usage under heavy traffic
- Usability testing - Get real user feedback to improve the interface
BNPL apps need extra attention during payment testing. Run tests with real transactions in different countries, payment types, languages, and devices to check every customer's experience. This helps catch problems like retry failures, timeouts, and unsupported flows early.
Launch strategy and app store deployment
Your app should meet quality standards before launch. The next steps include:
- Making app listings better for higher rankings in app stores
- Managing submission and approval steps
- Using app store optimization (ASO) to increase visibility
Support after launch matters just as much. Monitor key performance indicators like user activity, downloads, and retention rates to make informed improvements.
Partner with CISIN for expert mobile app development
CISIN with our mobile application development services can turn your BNPL concept into reality with their mobile app development services. They offer:
- Free discovery calls to discuss your vision
- Skilled mobile developers who know financial applications
- End-to-end management of build and launch phases
Their certified developers use CMMI Level 5-appraised methodology to handle everything from security engineering to app store optimization.
Estimate the Cost to Create an App Like ViaBill
The success of your ViaBill-like BNPL app depends on proper budgeting. A clear understanding of your financial needs helps you create an effective plan.
Cost breakdown by development phase
Your BNPL app development journey involves several stages with specific costs:
- Planning and Research: USD 5,000-10,000
- UI/UX Design: USD 7,000-15,000
- Frontend/Backend Development: USD 20,000-50,000
- Payment Gateway Integration: USD 5,000-10,000
- Testing and QA: USD 5,000-12,000
- Deployment and Maintenance: USD 3,000-7,000 per year
You should expect to invest between USD 30,000 to USD 250,000 based on your app's complexity.
Factors affecting total cost
Your app's complexity plays a crucial role in determining the budget. A basic BNPL app costs USD 30,000-60,000. The price can reach USD 150,000-250,000 if you add AI integration and advanced features.
Your development team's location also affects the cost. Here's how hourly rates differ across regions:
- North America: USD 95-100
- Western Europe: USD 80-90
- Eastern Europe: USD 50-55
- Asia: USD 25-40
Outsourcing vs in-house development
An in-house team offers better control but comes with higher costs. A U.S. developer's average salary reaches USD 81,848.
You can save 21-55% on development costs by outsourcing to Asian regions. Mobile app development company CISIN notes that this option gives you access to specialized BNPL expertise without ongoing overhead costs.
Capitalize on the Booming BNPL Trend
The market is shifting rapidly toward flexible payment options. Partner with us to launch a secure fintech solution that captures this growing audience effectively.
Conclusion
The BNPL market gives developers and entrepreneurs a great chance to enter this rapidly growing space. Your timing couldn't be better to develop a ViaBill-like application, as the market will reach $9.2 trillion by 2032. This piece walks you through each key phase of BNPL app development.
Market knowledge helps you position your app well. Young people now prefer BNPL services over credit cards, which shows a fundamental change in how people want to pay. Your app needs a clear purpose to stand out as competition grows.
A good BNPL app combines essential features like flexible payments, virtual cards, and merchant tools with great user experience. Security and compliance are the foundations of customer trust. Different regions have different rules, so you must implement KYC protocols, fraud detection systems, and data encryption properly.
Your choice of tech stack will affect how well your app performs, grows, and costs to maintain. The right decision between React Native or Flutter for frontend, backend technologies, and cloud infrastructure will pay off later.
App development costs vary. You might need $30,000 for simple features or up to $250,000 for complex ones. CISIN's experienced software developers can help you make the most of this investment through their knowledge and quick development process.
Note that you need both technical skills and market understanding to succeed. BNPL apps that are transparent, user-friendly, and valuable to both customers and merchants do well. Start small with an MVP, listen to users, and grow carefully as your user base expands.
Building a successful BNPL app requires careful attention at every step. Few markets offer such growth potential. Take what you've learned, build your team, and create your ViaBill-inspired solution. The next big BNPL success could be yours.
