How To Build An App Like Halan?

In the growing industry of fintech, there is a wide possibility to enter and create a business.

BNPL is one of the growing sectors in this industry, it’s all about providing short-term loans to users without any interest.

There are many BNPL apps in the industry, and one of those is Halan. It is an amazing app that helps customers and small businesses to get access to financial services.

Are you the one interested to develop an app like Halan?

Well, let’s explore the concepts, features, and more in brief under this blog.

Halan: Lending, BNPL, Payments

Let’s explore Halan for those who are new to the field.

Halan is an Egyptian fintech app that provides diversified funding solutions for small businesses and consumers who are financing away from the banking system. With comprehensive funding solutions, the company assists businesses to free themselves from traditional banking limitations.

The application provides smart solutions for financial services which makes it simple and easier for the BNPL, online shopping, and lending payments.

If you are confused about why you should invest in an app like Halan, then the following section is for you.

Why Invest in an App Like Halan?

How to develop an app like Halan?

If you are confused in why to proceed with it, it is essential to evaluate the reasons to invest in an app before you evaluate the steps to create it.

Let’s evaluate the points below.

♦ Market Share of BNPL Apps

According to BNPL market statistics, currently, there are about 360 million BNPL users. Additionally, the market is worth over $5000 billion. In 2028, the transaction volume is estimated at 834 billion USD. With the growing market share of BNPL apps, you can think to invest in this sector.

♦ Personalized Services

It’s essential to opt for developing an app when you want to provide personalized services to the users. Well, through creating an app, you can successfully evaluate the needs and preferences of the users and then provide them with what they actually want from the market. Thus, with the help of building an app like Halan, you can fulfill users’ demands of Fintech.

♦ Enhances Brand Visibility

Through building an app, you can improve the overall brand visibility of your business among the targeted users. When your app is visible to the users over their mobile phones, their tendency to use it will increase. Thus, this will result in building a strong connection between your business and customers. Along with this, it can enhance brand visibility.

♦ Ensures Competitive Advantage

Building an app like Halan, can assist to bring the business ahead of the competitors, how? Well, an app can eventually address the user’s potential and dynamic needs before your competitors will think of it. Thus, in this manner, it will bring business to your app and ensure a competitive advantage.

♦ Provides ROI

Do you want to earn great revenue from your business? Well, building an app can be helpful. The app can provide you with multiple sources of streams to earn income such as in-app purchases, in-app advertisement, data monetization, transaction fees, and many others. This revenue will help make large profits.

These are all the essential reasons to consider for developing an app like Halan.

Now that you’re ready to build an app like Halan, let’s discuss the types of features to include along with the working procedure in the following section.

Features to Include in an App like Halan

Here’s a list of features included in an app like Halan.

► Flexible Payment Options

With the flexible payment options features, you can assist the target users to have multiple methods via which they can continue with the transactions. Additionally, you can offer several payment plans to cater different budget needs of these users.

► Add Security Measures

Adding multi- and two-way authentication is crucial when it comes to BNPL or any fintech app. It’s essential to include different types of security patterns to ensure that the user’s data remains secure.

► Social Sharing

Social media integration within platforms like Halan will provide convenience to the users and help them share payments. This will also help the users to share receipts of payments when necessary with any merchants.

► Integration with eCommerce Platforms

A seamless integration across eCommerce platforms can be useful in providing convenience to users. Here integrating over retail platforms will be effective for assisting the users with the option to proceed with instant payment options without even switching off the application.

► Voice Search

The voice search feature within the mobile apps is considered to be the most compelling feature. The result of advances in speech recognition is effective in replacing the search bar. Through voice search, you can help people with diversified voice devices for accessing information.

► Multilingual Support

A multilingual application is the most cost-effective tool that helps users get support in diversified languages without even using any transaction tools. It will assist the users in operating the app in the type of language that they prefer to understand and evaluate.

► Geolocation

Adding geolocation to the apps can help track the users’ data and provide them with services accordingly. For instance, as per the location, the users can get access to retail applications and nearby retail shops to successfully complete payments.

► Merchant Integrations

You can include merchant integrations within the app through which the users can support an integration over eCommerce platforms. The integration will enable users to directly implement the BNPL system directly on the websites, through streamlining the checkout procedures.

Implementing these features can enable the users to process the steps to make an app like Halan.

Now, as we proceed further, let’s evaluate the working procedure of an app like Halan in the given section.

How Does an App like Halan Work?

You need to evaluate the working procedure of an app like Halan.

Here is the simple series to follow-:

• After downloading the app from the Play Store or Apple Store, users need to add their details such as address, name, or all the essential details that can help them to continue with the BNPL app.
• Then, while performing shopping over the online platforms or anywhere the app permits, users can select the choice of BNPL.
• When payments from apps like Halan are approved, users only need to pay 25% of the downpayment and the rest will be paid by the app on their behalf.
• They can make installments as many as the BNPL app offers and then may go ahead with adding their debit or credit card details with the app.
• With every decided date, the app will deduct the amount from the mentioned account as much as the installments were decided by the user in the first place.
• This is how the users can continue with shopping even without bothering about paying the amounts with interest.

This is the working procedure that needs to be considered while developing an app like Halan.

Now, the question is “How to build an app like Halan?”

Let’s evaluate the steps in the following section.

Steps to Make an App Like Halan

How to develop an app like Halan?

To build a BNPL app, it’s essential to proceed with the right steps for enhancing the overall functionality.

Here is a series of steps helpful to build an app like Halan.

Step 1: Market Analysis

Under this process, you need to identify the value of your app in the competitive market. Thus, market research plays an important role here.

It is a detailed assessment of your business’s target market, where you can capture important details related to the competitive landscape.

Through in-depth research, you can capture the users’ interest and what they seek in BNPL. That’s how you can manage to bridge the gap in the market, successfully.

You need to define your target market based on the types of characteristics and aims of your project.

Step 2: Build an MVP

You need to create an MVP, under this step, where it’s vital to include minimum features that will be enough to grasp user’s attention in the diversified market.

MVP can be helpful for your BNPL app to get market validation. It is important to check that your app idea is effective enough to resolve the issues of potential audience.

Along with this, creating an MVP can be useful in focusing on the core value of the product. This will help in streamlining your application and building a user-friendly product.

Developing an MVP will assist you to save the overall mobile app development cost by identifying if your app will be capable of addressing user’s interests or needs a modification.

Step 3: Select Features

You need to add features to the apps, that will be effective to address the user’s needs. Under this step, it is vital to perform research and evaluate what types of features already exist in the diversified market.

The features needed to serve the purposes that won’t hurt performances along with the security of the app.

It’s important to determine the basic and advanced features because it will build an identity of your BNPL app in the market.

This will be valuable to fulfill the user’s needs and offers multi-device synchronization which makes a scalable application. Thus, all you require is the types of features that will add value to your app and help in enhancing overall performance.

Step 4: Create a Design

Now, it’s time for you to build an app’s UI/UX. It is all about selecting the types of technologies that will have a lasting impression on the users. All you need is to select the type, font, color, and theme for your app that will engage the users.

Additionally, you are required to evaluate wireframes and prototypes for your app like Halan. Under this area, you can virtualize the app by creating its required features and building a strategy for the same.

It’s essential to determine the user persona and journey mapping here, to identify where and how they will proceed with your app.

BNPL app’s design needed to be simple and attractive so that the users will not require a guide to learn about the operations of the same.

Step 5: Choose Tech Stack and Develop an App

Well, it’s time to choose a mobile tech stack and proceed with the backend process for your mobile application. Technology selection is all about proceeding with the programming languages, databases, and infrastructure and implementing appropriate frameworks.

BNPL app’s tech stack needed to be secure with implementing potential authorization protocols. For processing with the backend, you are required to proceed with Java, Python, Node.js, and more depending on the type of app.

Here another appropriate element is a base that refers to store data that users might access via a separate application. For an app like BNPL, you need to include the database as MongoDB, PostgreSQL, or MySQL for the data storage.

Additionally, it’s important to build the tech stack depending on the selection of platforms such as Android, iOS, or Hybrid. Now, you need to combine all the steps to finalize the app.

Step 6: App Testing

Under mobile app testing, it’s essential to evaluate that your app is effective to launch in the market. It is an unavoidable step to build an app like Halan, where it’s essential to test the app under different circumstances.

It is important to perform rigorous testing procedures for building an app like Halan because it is essential to identify the bugs and errors before you launch it in the market.

Here, you need to process the mobile app validating for the functionality as well as usability prior to realizing it to the public. Through mobile application testing, the users can combine both the functionality and usability before it is released publicly.

Testing is an important process for enhancing performance and usability as well as minimizing bugs that can cause issues.

Step 7: Deployment, Launch and Maintenance

In this step, you should deploy the app over the platforms, and then launch it to the market after evaluating current market conditions.

Well, after the launch of an app, you need to maintain it to successfully sustain in the competitive market.

You may connect with the potential app maintenance services to ensure that your app remains updated with the latest software and to improve its overall functionality.

It’s vital to know the app maintenance importance, if you aren’t aware of how effective it is to include this step while proceeding to build an app like Halan.

Till now, we have discussed the concept of the Halan app, along with features, reasons, and working procedure. Now, let’s examine the cost to build an app like Halan in the following section.

What’s the Cost to Build an App like Halan?

You cannot think of developing an app like Halan, by being unaware of the cost and all the resources, right?

Well, then let’s evaluate them.

The average cost to build a BNPL app depends on different factors including the complexity of the app, design, technology stack, maintenance, security, and team of developers.

The cost to create an app like Halan can vary from $25,000 to $105,000 depending on the types of factors.

Let’s evaluate the factors in detail within the following section.

Factors Affecting the Cost to Create an App Like Halan

How is cost being impacted by important factors?

Here are the details of the factors to learn while evaluating the cost to build an app like Halan.

1. Design of an App

The app design depends on the type of features included within the software. An intuitive user interface plays an effective role in determining the total cost of building an app like Halan.

Hence, designing an interface that is user-friendly and aesthetically pleasing comprises the UI/UX experts. Thus, the cost to design an app like Halan will depend on the expertise of the designers. Here the cost can vary from $5000 to $20,000 depending on the complexity of the design.

2. Complexity and Number of Features

Here, the types and number of features will have a large impact on the cost to build an app like Halan. There are a variety of features that you will implement while creating it, right?

These features can be basic and advanced depending on the aim of the aim. A variety of complex features such as geolocation, real-time chat, augmented reality, or machine algorithms can enhance overall development costs to build an app like Halan and vice-versa.

3. Selection of Technologies

The type and complexity of technologies will have a large impact on determining the costs. Updated technologies such as artificial intelligence, augmented reality, and virtual reality have a large effect on the technologies.

Under this factor, the cost can vary from $5000 to $25,000. This cost will depend on the types of technologies integrated within the app.

4. Choice of Platforms

The selection of platforms has a large impact on the costs, how? Well, here you need to identify the types of platforms to search.

Before that, you need to evaluate the Android the iOS app development cost, and the same for hybrid platforms. Under this factor, the cost can vary from $10,000 to $40,000.

5. Team of Developers

The selection of developers will impact the cost by evaluating two essential factors such as location and expertise of the experts.

Here the cost to hire developers can be from $25,000 to $105,000 depending on the locations. Such as for Aisa it starts from $25,000, while for other locations such as the United States, it can be from $30,000 to $400,000 for hiring professionals.

6. Maintenance Cost

Under this factor, all you need is to examine the frequency of updating the app like Halan. Well, the number of updates and time spent maintaining the app will impact your cost here.

The app maintenance cost for an app like Halan can vary from $4000 to $40,000. You should examine this cost based on the need to maintain your app.

7. Security Cost

When it comes to an app like Halan, it’s important to identify the types and cost of security tools needed to implement here.

The cost to include security tools can vary from $5000 to $30,000, depending on the complexity of security it provides. For an app like Halan, you must include the highest security protocols for ensuring the safety of users’ data.

These were all the factors to evaluate while determining the actual cost to build an app like Halan. Now, it’s time to identify another resource in the next section.

How Much Time Does It Take to Create an App Like Halan?

How much time does it take to build an app?

Let’s identify the time in the given table.

This time will depend on the experts and the objective of the app.

Now, as we have evaluated the cost, its factors along with the time factor. It’s time to identify the strategies to earn money from the app within the following section.

How to Monetize an App Like Halan?

To earn money from fintech apps, it is essential to evaluate how other apps in this industry are concerning this factor.

Here is a series of app monetization strategies adopted in this industry.

• In-App Advertising

It is the strategy where you can display paid ads within the mobile app. This helps the app owners leverage the brands with a space that they can utilize for promoting their brand, product, and services.

• Transaction Fees

Another important source of income for an app like Halan is transaction fees. These apps charge a valuable amount from the retailers and customers as well for providing them with a valuable platform through which they can access the transactions.

• In-App Purchases

You can include an in-app purchases monetization framework by adding important features. It is a hybrid approach to monetization where the users can make use of real money to purchase features and items while playing a mobile game.

• Subscription Model

With the implementation of the subscription model, you can continue with accessing the one in which customers are charged a recurring fee for accessing a product instead of any one-time expenses. You can include multiple or one type of subscription plan based on the market scenario.

• Interest Rates

You can earn from the interest rates. Well, as a BNPL app, we will not charge any interest, however, if the installments are bounced by any user. You can charge fees in terms of interest. This fee can become a recurring income for your business.

These are all important and effective monetization strategies to consider while building an app like Halan.

Now, if you are still confused about any plan or development strategies, connect with an experienced team of developers.

Partner with Nimble AppGenie and Bring Your Idea to Market

Confused about app development?

Nimble AppGenie can become your ultimate partner in this scenario. Our team is ready to help you develop the plan or strategy, add features, including monetization strategies, and build the complete app.

We are a leading Buy Now Pay Later App Development Company that specializes in developing a secure and user-friendly network to meet the specific needs of the users. Our team can transform your business with innovative solutions to cater distinct needs of the users.

Conclusion

When you enter the industry of BNPL apps, it is essential to know the right series of steps to build an app that will help achieve your dream project. If you are destined to build an app like Halan, it’s essential to pursue market analysis to know the value of your app.

Later, it’s important to include essential features such as flexible payment options, social sharing, adding security measures, and voice search.

Along with the features, you should know the reasons to continue with the process, right? Well, there are plenty including increasing market growth, user satisfaction, revenue generation, enhanced brand recognition, and ensuring you provide personalized services.

You can continue with the monetization strategies such as in-app purchases, in-app advertisements, etc. Thus, connecting with an experienced company can help.

FAQs

Niketan Sharma

Niketan Sharma is the CTO of Nimble AppGenie, a prominent website and mobile app development company in the USA that is delivering excellence with a commitment to boosting business growth & maximizing customer satisfaction. He is a highly motivated individual who helps SMEs and startups grow in this dynamic market with the latest technology and innovation.