Paylater, a new buy-now-pay-later service, has introduced a new service that allows online shoppers in Nigeria to pay for their shopping at a later date.
The credit-based online shopping service said that it is bringing a unique proposition to the fast-growing e-commerce market arena in Nigeria.
The service allowing shoppers to spread the cost of their online purchases over 30 days on online retail websites such as SureGifts, Heels.com.ng and 1500naira.
But customers who use PayLater to shop on any of these retail sites would have to part with a 10% commission on each sale. So, if you buy a product worth say, N5,000, be ready to pay N5,500 within the next 30 days after purchase and a possible additional charge for a late payment after 30 days.
The Paylater service is going to require One Credit, another service that allows customers credit for one transaction at a time up to their credit limit and gives them access to another credit opportunity when they make repayment on the first credit granted to them.
One Credit is backed by Kaizen Ventures Partners, an investment company focused on building and investing in high-growth, high-impact SMEs in sub-Saharan Africa.
Home