Buy Now Pay Later Payment Solution Development

The Complex Buy Now Pay Later Solution Development

The RNDpoint team contributed to the development of a complicated BNPL solution for a bank, resulting in a product with 30,000+ business partners, 6 million retail users, and a status of #1 BNPL offer in the client’s location. The solution is currently the top source of the bank’s revenue.

Client’s Profile 

Our client is an innovation-focused European bank that provides ground-breaking FinTech commercial and consumer services. The client’s name is NDA-protected and further will be referred to as the Bank.

Client’s Requirements

RNDpoint used to work with the Bank on a payment system development from scratch, so it was not our first project with the client. The Bank’s management remained highly satisfied with the previous project, so they hired RNDpoint to create a brand-new BNPL solution for their clients. 

The BNPL project presupposed issuing payment cards that allow its owners to buy merchandise and pay for it in installments of up to 12 months without a credit interest. 

The RNDpoint team was tasked with developing the complex BNPL solution. We had to create a website, an online portal, and a mobile app, all integrated with the client’s administrative database. 

The main functionality of the new BNPL product was to be as follows:

• The purchase price should have been divided by the number of installments chosen by the user, which would have reduced the credit burden. 
• Every Bank user receiving the BNPL card would have a personal account containing all information about their loan repayment status. 
• Users should also be able to find the list of partners, goods, and services available for acquisition on the BNPL principle. 

Business Challenge 

We found this project to be extremely challenging. The RNDpoint team members had to resolve many organizational problems and bottlenecks. 

Our representatives held a series of meetings with the Bank’s representatives in the client’s office to ensure a smooth workflow. In other words, RNDpoint was responsible not only for the technical part of the BNPL product’s creation but also for the facilitation of effective collaboration between our team and the client’s developers and management. 

Another challenge was the database’s operational optimization. The client used to have separate databases for BNPL commercial partners and consumers, though the information fed into both databases was mostly identical. The RNDpoint team removed that redundancy by integrating the databases and allowing staff to save much time on data entry.

Implementation 

The project took over 6 months, from March to September 2021.

It involved a team of seven RNDpoint specialists: 

• Project Manager
• Business Analyst
• Back-end developer 
• iOS developer
• Android developer 
• QA engineer
• DevOps engineer 

In the project implementation process, the team applied a technology mix including:

• Swift
• Kotlin 
• Java
• CI/CD
• AWS Lambda
• Figma 

Solution Delivered

The RNDpoint team worked on the BNPL solution’s technical specifications, UI/UX design, full-stack development of the ecosystem, and further testing. We also completed much work on the database integration and restructuring for its smooth linkage to the client’s IT infrastructure. 

RNDpoint coders also completed the accounting department’s operational optimization. We uncovered a persistent glitch in the invoicing system, which forced accountants to revise them manually. Our improvements ensured quick, automatic invoice generation without errors. 

The second iteration of our project work involved a business portal’s launch for commercial users wishing to become part of the Bank’s BNPL program. 

The RNDpoint staff developed a new, functional administrative database for the Bank to track all financial and legal documentation with BNPL partners. We also handled complex database integration and reengineering tasks to ensure the portal’s efficient operations.

Project Outcomes 

The result of RNDpoint’s work on this project was the full development of a large-scale BNPL project. The solutions included a mobile app, website, and online portal. 

Currently, the app has a network of 30,000+ commercial partners, becoming the country’s largest and most famous BNPL program. The program has become the #1 source of revenue for the Bank. 

The RNDpoint team is continually involved in the ecosystem’s upgrades, with the client issuing new tasks on a regular basis. The Bank was highly satisfied with our partnership results, entrusting new features and UI development to RNDpoint. 

Our team passed all source code and technical documentation to the Bank’s development team so that they can provide independent app maintenance.