SnapCredit is a mobile fintech app offering instant, short-term credit for everyday purchases under $50 such as fast food, snacks, and small retail items. Designed for young adults, students, gig workers, and the underbanked, SnapCredit provides a flexible "buy now, pay later" solution with 4 automatic monthly installments and a transparent 10–20% upfront interest fee.
How It Works:
Users connect their bank accounts via Plaid
Payments are made using tap-to-pay, QR codes, or a virtual card
Purchases are auto-approved, and merchants are paid instantly
Repayments occur via auto-debits, with late fees or added interest when applicable
SnapCredit functions as a private micro-lender, not a bank—using a dedicated credit pool to fund purchases. Repaid funds, including interest, are recycled into the pool, creating a sustainable lending loop. Stripe handles payment processing to ensure secure, scalable financial transactions.
Key Features:
4-month installment plans with built-in interest
Instant payments via tap, QR, or virtual card
Automated repayment through Plaid and Stripe
Optional AI-powered budgeting tools
Credit-building via third-party reporting to credit bureaus
Adaptive spending limits based on user reliability
Technical Stack & Compliance:
Frontend: React Native or Flutter
Backend: Node.js, Firebase, PostgreSQL
Integrations: Plaid, Stripe
Security: End-to-end encryption, KYC/AML, GDPR/CCPA compliance
Legal: Lending licenses (as required), TILA compliance, clear user disclosures
Development Goals:
We’re seeking a skilled development team to:
Build a secure, scalable mobile app and backend
Integrate Plaid and Stripe for financial operations
Set up repayment logic, late fee handling, and risk management
Enable credit reporting for user score growth
Ensure compliance with all relevant lending and data privacy laws
The goal: Deliver a reliable, user-centric fintech platform that provides accessible micro-credit while empowering users to build stronger credit profiles over time.
