How CredPal Has Evolved Into The Go-to Payment Option For Those Who Want To Buy Now And Pay Later
How CredPal has evolved into the "go-to" payment option for those who want to buy now and pay later
Since its introduction a few years ago, a new type of digital lending has taken the world by storm, gaining widespread acceptance among merchants and consumers alike. In the consumer credit industry, it is commonly referred to as "buy now, pay later." It is a payment option that encourages consumers to make more purchases, whether online or offline, and to pay over time.
CredPal is a fintech company that is leading the charge in Nigerian financial technology. Founded in 2018, it was the first company to enter the market and pioneer the buy now, pay later model, which allows customers to purchase more while splitting payments into monthly instalments. Unlike the traditional method of payment, buy now, pay later allows consumers to get immediate access to their purchase while paying it off over a period of several months. Its innovative approach to providing credit cards to customers is what makes CredPal stand out from the rest of the competition. As a result, it is possible to combine the convenience of a credit card with the flexibility of "buy now, pay later." Customers can choose to pay in full within 30 days or to make payments in installments over a period of up to 6 months.
According to Fehintolu Olaogun, the company's CEO and co-founder, "a professional earning 250,000 Naira can get a credit card with a limit that they can pay back at the end of their billing cycle or use it to buy now and pay later."
With CredPal's buy now, pay later feature, customers can shop, take advantage of discounts and cashback offers from over 13,000 merchants, and then pay later at their convenience. Olorunfemi Jegede, the company's COO and co-founder, stated that the service is particularly distinguished by its merchant partnerships, which span a wide range of industries, including hospitality, electronics and gadgets, furniture, travel and transportation, real estate, grocery, beauty and cosmetics, and education, amongst others.
Many merchants, including Shoprite, Slot, Hard Rock Cafe, Pointek, Orile Restaurant and Bar, Mykonos on the Roof, Koffee Hut, and thousands of others, have joined the company's partnership cohorts, which now number in the thousands. Consumers have the option to shop, eat, lounge, travel, and pay later – the list is endless.
It is our goal to capture the typical working-class Nigerian's way of life and ensure that every person who signs up on CredPal finds something that is specifically tailored to their needs. Fehintolu expressed himself in this way. In the end, CredPal has elevated the consumer's financial needs as well as their shopping experience to a whole new level.
In Conclusion
CredPal continues to collaborate with these merchants to provide customers with better payment options, retail innovation, and events that bring merchants closer to their customers as a result of their partnership. As a result of these partnerships with over 13,000 merchants, CredPal is not slowing down. In fact, the company is actively seeking new merchant partnerships.
Merchants who wish to accept CredPal Pay will find the registration process to be straightforward thanks to the company's simplified registration process. If you are a merchant who is interested in participating, you can register here. To paraphrase, the goal is to ensure that every shop any Nigerian walks into has CredPal as a payment option for those who want to buy now and pay later.
