Buy Now, Pay Later Archives - CredPal

Buy Now Pay Later CredPal: How It Works and How to Get Started

CredPal — Mon, 11 Aug 2025 16:01:48 +0000

There are times when opportunities or emergencies show up before your salary drops or your next inflow comes in. It could be a laptop needed to secure a freelance gig, a medical bill requiring urgent payment, a phone replacement for a damaged one, or even household appliances that cannot be postponed. If you’ve ever tried to borrow money from friends or family in those moments, you know how stressful and sometimes awkward it can be.

Traditional Loans Are Not Always Built for Speed

Traditional loans come with their baggage: long application processes, high interest rates, endless paperwork, and credit checks that feel like an interview. Even if you eventually get the loan, it might come after the opportunity has passed.

That’s where CredPal Buy Now, Pay Later comes in. It’s a smarter, faster way to get what you need without paying for everything upfront. You buy what you need today and spread your payments over weeks or months, without the usual stress of getting a loan.

What is Buy Now, Pay Later (BNPL)?

In simple terms, Buy Now, Pay Later allows you to purchase something now and pay for it later in parts. You’re not borrowing cash; you’re buying a product or service and paying gradually, just like an installment plan.

With CredPal, you can shop across thousands of partner merchants (online and offline) or even request a credit card that lets you shop and pay later.

Eligibility Criteria for CredPal BNPL

To qualify for CredPal’s Buy Now Pay Later (BNPL) service, you must meet the following criteria:

1. Be a Nigerian resident.
2. Be between 21 and 55 years of age.
3. Have a monthly income of at least ₦50,000 or a business turnover of over ₦300,000 over the past 6 months.
4. Have a good credit history.

These criteria ensure that you can comfortably meet the repayment terms.

How to Get Buy Now, Pay Later on CredPal

It’s as easy as 1-2-3.

Here’s how to get started:

1. Download the CredPal App

Go to the Google Play Store or Apple Store and download the CredPal app. Sign up in a few steps.

2. Get Verified

You’ll be asked to upload a few documents, such as a valid means of ID, BVN (to confirm your identity), and proof of income or salary (like your bank statement).

This helps CredPal understand your ability to repay and determine your credit limit.

3. Start Shopping

Once verified, CredPal gives you a credit limit. You can then:

Use CredPal at checkout when shopping online with partner merchants.
Use your CredPal card (if you request one) to make purchases.
Or shop in person with partner stores and scan a QR to pay later.

What You Should Know Before Using CredPal BNPL

Repayment is flexible, but you must pay as agreed to continue using the service.

Late payments attract fees, so set reminders.

Using it responsibly can improve your credit score and increase your credit limit.

Buy Now, Pay Later is not about buying things you don’t need; it’s about solving real problems and managing your cash flow better.

CredPal makes it simple, quick, and safe.

So next time you need to buy something but can’t pay in full immediately, remember: you don’t have to wait until payday.

Ready to Get Started?

Download the CredPal app today and unlock your credit line in minutes.

Buy what you need. Pay at your pace.

FAQs About CredPal’s Buy Now Pay Later

Let’s address some of the top questions people ask:

Q: How do I get a loan on CredPal?

CredPal doesn’t operate like a traditional loan app. Instead, you’re given a credit line based on your profile. You can then use that credit to:

Shop now and pay later at partner merchants, pay bills, and buy airtime anywhere CredPal is accepted.

There’s no need to request a lump-sum loan. You simply spend from your credit line and repay in flexible installments.

Q: How do I get approved for Buy Now, Pay Later?

Getting approved is mostly about your KYC (Know Your Customer) and creditworthiness.

To improve your chances of approval:

Provide complete and accurate information.

Upload a valid ID and bank statement.

Make sure your bank statement shows regular income.

Have no history of unpaid loans elsewhere

Once your profile is reviewed and approved, CredPal assigns you a credit limit. You can start using it immediately.

Q: What credit card offers Buy Now, Pay Later?

The CredPal Credit Card is designed exactly for this.

It works like a regular debit card, but instead of deducting from your balance, it deducts from your credit line. You then repay over time in installments. You can use it to:

Shop online or offline, pay bills, and access emergency funds.

It gives you the flexibility of Buy Now, Pay Later wherever cards are accepted.

Source

The post Buy Now Pay Later CredPal: How It Works and How to Get Started appeared first on CredPal.

Why CredPal’s Buy Now Pay Later Option Is the Smartest Choice in Nigeria

CredPal — Fri, 25 Jul 2025 12:12:51 +0000

Have your eyes on something big but not ready to pay it all at once? Whether it’s a new smartphone, a smart TV, or an entire living room setup, Buy Now Pay Later in Nigeria is changing the way people shop. The only question is: which BNPL provider actually works for you?

Let’s talk about why CredPal is fast becoming the top choice for Nigerians who want flexibility, speed, and trust in their hands.

Why More Nigerians Are Choosing Buy Now Pay Later

We all know how frustrating it can be when you need something urgently, like a laptop for remote work or a new phone, but don’t have the full cash right away. Instead of dipping into savings or using high-interest credit cards, BNPL services offer a smarter, stress-free solution.

But here’s the truth: not all BNPL platforms are created equal. Some are too strict. Others are too slow. That’s where CredPal comes in.

Meet CredPal: Your Everyday Finance Companion

CredPal’s BNPL isn’t just about delayed payments it’s about freedom and peace of mind. It allows salaried Nigerians to buy what they need today and pay over time without hidden fees or headaches.

Why CredPal Leads the BNPL Game

Shop across multiple vendors – not limited to just one store’s inventory
Instant approvals – if you meet the clear requirements
Simple application – sign up, choose your plan, and confirm with payment
No surprises – clear breakdowns of your monthly payment plan
Tailored for working Nigerians – available to those earning ₦100,000 and above

What Makes CredPal Better Than the Rest?

Let’s compare real quick:

CDcare? Only good for select electronics, limited options.
Tendar? Demands large deposits upfront, not ideal for tight budgets.
Electromart Pay Later? You’re stuck buying only from their store.
CreditDirect? Traditional loan vibe, lengthy processing, and rigid terms.

CredPal, however, is designed with you in mind: your budget, your timeline, and your lifestyle.

Don’t Just Take Our Word for It…

“With CredPal, I furnished my whole apartment in just a week, no financial strain. It was seamless!” – Adesua, Lagos

“I used BNPL from other platforms before, but CredPal is the only one that made me feel truly in control.” – Emeka, Abuja

How to Start Using CredPal’s Buy Now Pay Later.

Getting started is super easy:

Click the merchant’s payment link and fill in the product details.
Sign up or log in, depending on whether you’re a new or returning user.
Choose your installment plan, confirm payment, and boom—you’re done!

As long as your documents are in order, approvals are instant. No stress, no delay.

Final Thoughts: Make Smart Money Moves

In today’s economy, stretching your money wisely is more important than ever. With CredPal Buy Now Pay Later, you don’t have to put your life, or your dreams, on hold.

Whether you’re upgrading your gadgets, investing in your home, or just treating yourself, CredPal makes it easy, affordable, and secure.

Don’t wait. Apply now and take the smarter path to ownership.

Source

The post Why CredPal’s Buy Now Pay Later Option Is the Smartest Choice in Nigeria appeared first on CredPal.

CredPal Products – All You Need to Know

CredPal — Wed, 07 Aug 2024 09:52:07 +0000

Credit

Credit is a financial arrangement in which a lender provides funds or resources to a borrower with the expectation of repayment at a later date, usually with interest. Access to credit is very important. Especially with how frustrating personal finances are in the country, you never know when you will need emergency funds. So, here’s how CredPal credit can benefit you!
The CredPal credit works simply like any credit card and allows you access to funds anytime you need them. Customers have a 30-day repayment period tied to their salary or monthly income date.

HOW TO ACCESS CREDPAL CREDIT

- The user signs up on the mobile app.
- The user clicks on “Apply for credit”.
- The user fills in all information provided.
- The user application is vetted between 24 – 48 hours.
- The user is approved for credit.
- The user transfers money to their personal bank account from his/her CredPal credit wallet.

Each user then has a credit score, which is a 3-digit number between 300 and 850. The lower a user’s credit score, the more likely the user is to default on payment, and vice versa.

CredPal offers users the Credit Builder feature, a type of savings designed to help people with little or no credit history establish and improve their credit scores. Credit builders are a great option for people who are new to credit, have had credit problems in the past, and are trying to increase their credit score to qualify for large loans.

It helps users establish their credit history, improve their credit score, and save money, too!
It’s time for you to join the countless pleased customers who have gained so much from our accessible credit solutions without hassle. Apply today and take the first step towards financial freedom!

Savings

Saving money is essential for achieving financial stability and reaching your future goals. At CredPal, we offer innovative savings solutions to help you grow your wealth effortlessly. Maximize your savings and reach your financial goals faster with CredPal!

CredPal helps to maximize your funds with our free withdrawals, secure savings, and up to 26% yearly interest with our flexible savings plan. Protect your savings from inflation and secure your financial future by growing your wealth. With interest rates of over 2% monthly, you’ll be able to reach your financial goals sooner than you think! Set a financial goal and save consistently towards it. Effortlessly watch your money grow!

With these features, you can easily build an emergency fund, save for a big purchase, or even plan for retirement! Our platform makes it simple to start saving and develop a saving routine, with no minimum balance requirements and seamless integration with other features.

So, what’s stopping you from joining the rest of our savvy savers to enhance your financial future with CredPal today!

Buy Now, Pay Later (BNPL)

Have you ever needed to make a purchase urgently but didn’t have all the funds at hand? CredPal offers the Buy Now, Pay Later feature, which is revolutionizing the way we shop. Buy Now Pay Later is a form of financing that allows customers to buy items and claim immediate ownership after paying a part of the money and spreading the rest over an agreed-upon period.

CredPal’s BNPL service offers flexible payment plans, no interest if paid on time, and instant approval. This makes it a very affordable and highly convenient way to make purchases and offers a lot of help to people. Be it gadgets, clothes, shoes, or household appliances, CredPal has got you! With our wide range of merchants and seamless integration, CredPal makes shopping and spreading payments easy!

Unlock the freedom given to you by CredPal’s Buy Now, Pay Later feature, and start enjoying purchases now!

Don’t wait any longer to take control of your financial future. Join the growing number of satisfied customers who have experienced CredPal’s benefits. Sign up today and embark on your journey to financial success!

Source

The post CredPal Products – All You Need to Know appeared first on CredPal.

Introducing Fly Now, Pay Later With CredPal

CredPal — Mon, 22 Aug 2022 21:41:18 +0000

It’s hard to plan a trip when you don’t have sufficient funds but what if you could take a trip without worrying about money?

This is what our newly launched product ‘Fly now, pay later’ offers – within the CredPal app, Nigerians can book flights now and pay later.

Providing credit facilities for Nigerians to book their flights, travel, and pay later.

There are very few consumer financing products that cater to traveling. So, by taking advantage of our “fly now, pay later” Nigerians can conveniently book flights while focusing on other financial obligations as they pay in installments.

Not only is it available for domestic and international flights with several airlines to choose from. We’ve also ensured that you can carry out the booking and payment process within the app and you’re provided with the flight details immediately after you’re done.

We’ve also offered an option to pay now which means even if you’re not looking to purchase flight tickets with consumer credit, this product still serves you.

So, whether you want to pay now or later for your flight, all can be done within the app while enjoying other consumer credit benefits.

Just as Olorunfemi Jegede, COO & Co-founder stated, “As a buy now, pay later company it’s just the next logical step to take as we continue to find more ways to improve the quality of life with consumer credit.”

In a previous article, our CEO and Co-founder mentioned how building a consumer credit brand that encapsulates the lifestyle of the working Nigerian is really important to us. We will continue to ensure that every person who signs up on CredPal finds something specifically for them by building products they can use; making our app the one-stop shop for the average working Nigerian’s lifestyle.

“At the beginning of the year, we set out to build, disrupt, and most importantly solve consumer problems. So, it was fitting to build a product that affords customers the opportunity to travel to destinations while they pay later.” said Fehintolu Olaogun, CredPal’s CEO & Co-founder.

So, if you’ve been craving the freedom to travel, but don’t have enough funds, now there’s something for you. Simply book your flight now, go on the perfect getaway, family vacation, or official conference, and pay later.

To book flights, download the CredPal app. For more information on booking flight(s) with CredPal, don’t hesitate to reach out via hello@credpal.com. We’re happy to help!

Source

The post Introducing Fly Now, Pay Later With CredPal appeared first on CredPal.

CredPal Pay: An omni-channel merchant suite to drive sales through BNPL.

CredPal — Mon, 06 Jun 2022 10:40:59 +0000

The evolution of payment has transcended from simply carrying out transactions to bridging the gap between provider and user through innovative technology. The ecosystem has experienced massive growth, particularly in digital payment solutions and consumer credit. In recent years and amidst the global pandemic, there’s been more adoption than ever before just as there has been a lot of focus on embedded finance but this comes as no surprise.

Our focus has always been to play a key role in driving the retail market through embedded finance and innovative solutions like buy now, pay later that cater to businesses and consumers. We’ve been doing this for over four years and continue to evolve in building products that cater to all kinds of merchants; eCommerce, social commerce, as well as brick and mortar stores. It is what has led us to a continuously evolving product – CredPal Pay.

What we now call CredPal Pay started out as a point-of-sale financing solution for merchants. In 2018, we started out with a plugin integrated at the checkout point of eCommerce stores like Pointek, Slot, Dreamworks, and a number of other online retailers. This checkout plugin served as an embedded integration that allowed online merchants to offer their customers a flexible payment option when shopping.

And in November 2021, we redefined the point-of-sale financing solution and birthed an improved product called CredPal Pay. An omnichannel suite designed to enable merchants of any size conveniently offer buy now, pay later to their customers, receive orders via a number of channels, and most importantly increase order value and sales.

The challenges and potential

Cart abandonment

According to Baymard Institute, the average e-Commerce site has a cart abandonment rate of 69.82%. This means that for every 100 potential customers that visit a merchant’s website, 70 of them leave without making any purchase. Let’s do a quick maths to see what this means for revenue, let’s say a merchant with an eCommerce site makes a revenue of $10,000/month. Then finds a means of turning just 25% of the abandoned carts into orders, they’d make an additional $2,500/month!

Consumers’ low purchasing power

Only seven African countries on the continent have a minimum wage equal to or less than $200, while for the majority of other African countries, it’s below $100. The low economic growth and insufficient well-paying jobs have made it a challenge for a large percentage of African consumers to pay outright for small or large ticket purchases.

The average purchasing power is still very low in even the fastest-growing markets because there is just a small class of middle and high-income earners which leaves a large population still struggling with minimal spending power.

A cash-driven economy

Cash is still popular within the informal retail sector in Africa and this is because consumers still trust cash transactions first, still opting for cash-on-delivery when shopping online and paying cash in informal retail markets like roadside stores. While it’s important to note the increasing adoption of digital payment methods, there’s still a significantly large gap to fill in reducing the cash spend in Africa. As of 2021, cash was still the main payment method for online shopping in Morocco, Egypt, and Kenya.

Merchants’ in-house financing is a disadvantage

In an interview with one of CredPal’s partnered merchants, he explained how they offered to finance specific segments: customers with high Life Time Value (LTV), friends, and well-acquainted customers. His experience was that 70% of them defaulted on the payment for items they got despite the relationship and assurance of payment.

It was a business risk that didn’t pay off because the merchant was handling an in-house consumer financing that wasn’t sustainable and worse of all, tied down capital that could have been used for inventory. Other small and medium-size merchants wouldn’t even consider this option despite customers requesting it because of the high-risk and capital involved in consumer lending.

Building for merchants: a buy now, pay later solution for the retail industry

Driving a significant increase in sales

Offering payment options to potential and existing customers gives consumers the financial flexibility to manage their budgets and increase their purchasing power. What this means for merchants is higher purchase value, frequent purchases, and most importantly, an increase in sales.

Alternative payment options have been recognized as a strategy to combat cart abandonment and secure potential customers. The article by Shopify further states that one in four merchants offering buy now, pay later double their average order value because they offer customers the choice to spread their payment over monthly installments.

RBC Capital Markets 2021 outlook estimated that point of sale financing increases retail conversion rate by up to 30% and lifts the average ticket size between 30% to 50%. Furthermore, BNPL sales are expected to double between 2021 and 2026, keep in mind that as of 2019, BNPL represented 2.6% of global eCommerce sales (excluding China) estimated at $60B.

Making your business every customer’s shopping destination

Due to the global pandemic, it was important for CredPal Pay to evolve to suit the demands and changes of the retail market. With the redefined and improved product, what we’ve done is build an omnichannel suite that offers merchants a range of digital payment options to choose from when offering their customers buy now, pay later.

Over and over research has proven that retailers with more payment options have a higher chance of receiving more orders. In a survey carried out by CR Research, 60% of the respondents indicated that they have used a buy now, pay later service and 46% of those were currently making a payment through buy now, pay later.

Digital payments as a convenience

In Nigeria, wholesale and retail sales are the third-largest contributors to the country’s GDP, contributing 16% although mostly driven through informal markets. According to Statista in 2021, cash was also not very prevalent in Nigeria compared to a few of its counterparts, with 35% of eCommerce payments transacted by card, and 21% by bank transfer, it is obvious that consumers are embracing the ease that comes with digital payments and exploring more options including installment payment.

As a merchant, if you’re yet to add BNPL to your payment options, now is the time to do that.

Providing your customers the ease of paying without cash and a higher purchasing power is the extra boost your business needs to close more sales. CredPal Pay is built with no restrictions. No matter the size of the business, online or offline, there are enough payment options to use instead of sticking to just cash, POS, and bank transfers.

The value and convenience of CredPal Pay

QR Code and Payment Link

CredPal Pay makes it convenient to offer buy now, pay later from anywhere you operate.

Whether your business operates from a brick-and-mortar store, or social commerce (Instagram, Facebook, Twitter, and other social platforms). Once you register as a business, you get a dedicated dashboard that gives you access to everything you need including your payment link and QR code both of which can be shared with anyone who wants to pay you through CredPal.

But there’s more, you can track payments, and access digital assets to help you promote your business as a CredPal partnered merchant. We’re not just helping you offer your customers convenience and flexible payment options, you’ll also be handling fewer cash purchases and more contactless payments.

When using CredPal Pay, you no longer need POS machines, cash payments, or bank transfers. Everything is done via your own generated QR code and payment link.

Checkout Plugin

Revenue for the eCommerce sector in Africa is set to reach a value of over 46.1 billion U.S. dollars in 2025 and BNPL is one of the major factors that have been repeatedly highlighted as a tool for this growth. Also, research by After Pay states that customers are more likely to shop from an eCommerce store that offers BNPL as a payment option.

So, how else do you leverage this opportunity? By including flexible payment options at the point of checkout. Integrating CredPal’s plugin at the checkout point of your eCommerce store is straightforward, whether it’s WooCommerce, Magento, etc. there’s a plugin for you. Our Relationship Managers will also guide you through the integration if there are any challenges.

Building for merchants: The CredPal Pay advantage

Increase in sales and average order value.
Merchants bear no risk with CredPal Pay: They are paid immediately once an order has been made while CredPal takes sole responsibility for customer repayments.
Merchants tap into thousands of new low to medium-income buyers! These buyers are used to having to save up before making major purchases. Now, they can use CredPal and instantly buy what they need.
Simple onboarding for merchants to process customers’ orders.

How to get CredPal Pay

Registering to be a merchant partner is easy, simply click here to register and a member of the Retail Partnerships Team will reach out to you to educate and onboard you. Once this is done, the next steps will be to offer CredPal’s buy now, pay later to your customers and start making more sales!

Visit credpal.com/business
Tap on “Become a CredPal Merchant”
Fill in the required details to register
Our Relationship Managers will contact you within 24 hrs
Get onboarded and start using CredPal Pay!

Whatever your business goals are, CredPal Pay aligns with them.

Source

The post CredPal Pay: An omni-channel merchant suite to drive sales through BNPL. appeared first on CredPal.

Buy Now Pay Later in Nigeria

CredPal — Thu, 26 May 2022 14:08:36 +0000

What exactly is BNPL?

Buy Now Pay Later is a form of financing that allows customers to buy items and claim immediate ownership after paying a part of the money and spreading the rest over an agreed period. Buy Now Pay Later is excellent for those who need products and services now but don’t have the money available; they can use this option to receive their items without paying immediately.

BNPL is becoming more popular with merchants worldwide as it allows e-commerce companies to offer installment products to consumers. It offers simple and transparent pricing models that make it easy for consumers to pay for products in installments.

CredPal is a financial technology company that aims to increase the purchasing power of consumers and economic growth by offering better and easier access to consumer credit through buy now, pay later.

According to Bain and Company, “BNPL makes life more affordable”. It is becoming an important tool to make a range of goods and services more affordable. “Couldn’t afford the whole price of a purchase up front” was the third most common reason to buy through BNPL, with 34% of users selecting it as one of their top three reasons. This share was even higher among people from the lower end of the economic spectrum, with 48% selecting that reason. In short, people are using BNPL to unlock purchasing power.

Buy Now Pay Later In Nigeria

BNPL transactions have experienced a rapid increase world wide and Nigeria is no exception. What makes this innovative payment method attractive is that it comes as a cheaper alternative to taking up loans to acquire the same item. Also, even with a bad credit history, you can still have access to this payment option.

Even though BNPL in Nigeria is becoming popular, there are still a few distinctions in the local industry in Nigeria relative to the global BNPL industry. In this article, we outlined how BNPL works in Nigeria and the benefits it presents to customers and merchants. It could be useful to business owners who might be interested in applying this payment method to their business.

How does BNPL work in Nigeria

Just like in other parts of the world, Buy now pay later in Nigeria is used to increase people’s purchasing power and reduce their financial burden, these days a lot of these platforms are emerging in Nigeria.

Nigerians can now shop for certain products, mostly electronics, and spread payment across a specified period of time.

In order to establish trust and ensure financial safety, some of these platforms in Nigeria require a valid identification card such as voters card, international passport, or driver’s license, bank statements and so on, while others may only require you to sign up on their platform, and check out using their services.

How to Buy now and pay later with CredPal

To buy now and pay later using CredPal, it only takes a few steps. Once you have completed the process, you can purchase the items you want and split the cost over a period of time. (up to 6 months).

You can either shop online or offline. To purchase online, you can walk into any of our partnered merchant stores and select any item you would like to purchase, let the merchant know that you want to pay using CredPal’s buy now pay later, after which you can either scan the merchant’s QR code or use the CredPal payment link that will be provided by the merchant.

You’ll be required to pay 30% of the price of the product upfront while you’ll split the payment of the remaining 70% in up to 6 months. Once you have been approved by CredPal the merchant will hand over the item purchased to you. That’s all.

To purchase online, you’ll need to sign up or log in to the CredPal app. On the dashboard, click on the “Shop” icon at the bottom of the screen. Select any of the displayed merchants on your screen or search for a merchant in the search bar. Pick the item you want and add it to your cart. Once that has been done, then you can proceed to checkout. On the merchant’s checkout page, select “CredPal Buy Now Pay Later” as the payment method. Sign in to your CredPal account on the CredPal checkout page and make a 30% down payment, that’s it you’ll item delivered to you.

Benefits of BNPL to customers in Nigeria

Below are the benefits that come with using a BNPL service in Nigeria as a customer:

Convenient and flexible

For consumers who might not be financially buoyant, BNPL offers a convenient and flexible payment option. From grocery shopping to gadgets , with BNPL you can make that purchase and split your payment without any hassle.

Affordability

While other forms of loans have higher interest rates and late fees, the BNPL options provides a more affordable payment option since they typically have limited fees and interest rates.

Benefits of BNPL to merchants

Below are the main benefits of BNPL to merchants:

Increased sales.

When a merchant offers BNPL it encourages customers to buy more products. When customers get the advantage of splitting payment to their convenience, they tend to shop for more than one product, regardless of the price.

Attracts new customers.

Because of how convenient and seamless this process is, it attracts more customers. Most people like the idea of purchasing an item and splitting the costs over a period of time.

Also, when it comes to promotion, not only is the merchant advertising what they sell to the but the BNPL platform also helps to publicize it, thereby bringing in more customers.

So, if you are one of the few who is yet to use any BNPL services, then you might want to start with us. From gadgets to electronics, furniture and even food, we’ve got you covered.

Don’t second guess it, download the CredPal app today, get your shop on and split your payment.

DOWNLOAD CREDPAL ON APP STORE DOWNLOAD CREDPAL ON PLAYSTORE

Source

The post Buy Now Pay Later in Nigeria appeared first on CredPal.

How To Use Your Shopping Limit To Buy Now Pay Later

CredPal — Wed, 20 Apr 2022 12:25:07 +0000

CredPal’s buy now, pay later allows you to buy items without paying the entire amount at once. You only pay a portion of the price upfront and then spread out the remaining cost over a predetermined number of installments up to 6 months. Once your credit application has been approved, you will be given a shopping limit which you can use to shop from merchants who have partnered with us to accept buy now & pay later as a payment method.

We have created a system that accommodates all your small and big-ticket purchases from phones, laptops, TVs, electronics, home appliances, fashion accessories, and many more.

Here is a brief rundown of how to use your CredPal shopping limit to BNPL within the CredPal app online or offline (in-store).

How to use your shopping limit to buy now & pay later online

Below is the step-by-step process of how to use your shopping limit to buy now and pay later online.

Step 1: Log in to the CredPal app

Step 2: On the dashboard, click on the “Shop” icon at the bottom of the screen.

Step 3: Select any of the displayed merchants on your screen or search for a merchant in the search bar.

Step 4: Select the merchant you want to buy from and you’ll be redirected to the merchant’s website.

Step 5: On the merchant’s website, select the item you want to buy, add it to cart, and proceed to checkout.

Step 6: On the merchant’s checkout page, select “CredPal Buy Now Pay Later” as the payment method

Step 7: Sign in to your CredPal account on the CredPal checkout page

Step 8: Make a 30% down payment and get your item delivered to you.

Checkout with CredPal Buy now pay later

How to use your shopping limit to buy now and pay later offline (in-store).

Below is the step-by-step process of how to use your shopping limit to buy now and pay later offline.

Step 1: Walk into any of our partnered merchant stores such as Slot, Pointek, Oga Bassey, etc. (You can find the list of all our partner merchants here)

Step 2: Select any item of your choice.

Step 3: Let the merchant know that you want to pay using CredPal’s Buy Now Pay Later, then you can either scan the merchant’s QR code or use the CredPal payment link that will be provided by the merchant.

Step 4: On the CredPal payment link page, you will be required to log in to your CredPal account and provide your order information.

Step 5: You’ll need to pay 30% of the price of the product you wish to buy upfront as an equity contribution while CredPal will pay the remaining 70% which you can pay back over 6 months.

Step 6: Once that has been done, you’ll need to wait for approval from CredPal after which the merchant will hand over the item purchased to you.

Step 7: Pick up your item and enjoy.

CredPal in Justrite

Our Buy Now, Pay Later gives you the opportunity to get the things you need immediately whether online or in-store, while also getting a little extra time to pay for them over a period of time.

We hope that these steps will help guide you and provide more clarity in your buying process.

Source

The post How To Use Your Shopping Limit To Buy Now Pay Later appeared first on CredPal.

Buy now, pay later with bad credit history

CredPal — Sat, 26 Mar 2022 11:55:28 +0000

If you are an online shopper or internet user, you would have probably heard of Buy Now, Pay Later (BNPL). It is a payment option that allows customers to pay for an item in installments. It can otherwise be defined as an option that allows a person to buy things on credit and pay for them over time. No doubt buy now, pay later is becoming more popular. But is it safe to say that anyone can be approved of BNPL even with a bad credit history? Let’s find out.

What is credit history?

Credit history can be defined as a record of a borrower’s responsible repayment of debts. A credit report on the other hand is a record of the borrower’s credit history from a number of sources. Including banks, credit card companies, collection agencies and governments.

Can you be approved of BNPL with a bad credit history?

Because a credit history is a reflection of how well you’ve handled credit in the past, It definitely plays a role in getting approved to use buy now pay later one way or another. Although It can also be hard to say you will be completely written off because of this. The chances of being accepted solely depends on conditions given by the service provider.

Options to consider if you have a bad credit history

We recognize that not all customers will have a good credit history and so we give you the option of rebuilding your credit reputation with our secured credit card. Our Secured credit card is a card that helps you to build your credit reputation and gives you access to unlock our buy now, pay later services, which also makes it easier for you to access loans in the future.

How does the secured credit card work?

First off, you would have to deposit cash collateral of a minimum of N10,000. This will then help you to unlock CredPal’s credit card of the same value. After which you can then use the funds in your credit card and repay monthly for a period of 4 months. It is also important to note we would report your monthly repayment to the credit bureau to rebuild your credit score. After 4 months, your credit reputation will be rebuilt and you can access credit facilities easily from financial institutions.

Device Financing

Another option to consider if you have a bad credit history is device financing. Device financing is a way of spreading out payment for the purchase of a mobile device. We have introduced a plan that allows customers to get a phone instantly while spreading the cost in up to 6 months. You do not need to go through a thorough credit application process. All you need is to make a 40% down payment, fill out basic information and get your phone immediately.

How to get started

If you want to give this a try. Head over to gomobile.ng, select your preferred device and add to cart. Make a 40% down payment, and get your phone instantly with no hassle.

In conclusion, as much as having a bad credit history isn’t a deal breaker, it is also important to ensure that you take preventative measures to avoid a bad credit history. Because nothing beats having a clean record.

Source

The post Buy now, pay later with bad credit history appeared first on CredPal.

Prag is creating a platform for consumers to buy inverters and pay later in partnership with CredPal

CredPal — Wed, 23 Mar 2022 18:29:23 +0000

We are pleased to announce that we have partnered with Prag, one of the leading inverter selling companies in Africa to ensure that customers who want to buy inverters and other electrical products can get them and pay later.

Prag is specialized in manufacturing and installing electrical power products for power supply systems such as inverters, stabilizers, solar, and batteries.

This partnership amplifies our track record of partnering with merchants who are delivering products that are meeting the needs of consumers. This is supported by a publication issued by Endeavour Nigeria (2022), where our CEO and Co-founder, Fehintolu Olaogun mentioned that he is hopeful for a 2022 filled with strategic partnerships. “I’m hopeful for more partnerships and collaborations; we’re stronger together and there’s so much we can really achieve and conquer when we join forces for growth.”

About Prag

Prag’s main products are Automatic voltage regulators (AVR), Uninterruptable power suppliers (UPS). Inverters (INV), Emergency power source (EPS), Battery chargers, Battery Energy Storage systems (ESS), etc.

Pay later inverter

We are at the age and time where we cannot do without electrical appliances or devices. Ranging from laptops, phones, freezer, and many others. Inverters help us to keep our devices running smoothly even when the normal electrical supply or generator fails. Whether at home or in the office, electrical power products are essential in order to keep operations running smoothly.

With this partnership, you can buy any Prag products while you pay in installments. Download the CredPal app or visit Prag’s website to get started.

Source

The post Prag is creating a platform for consumers to buy inverters and pay later in partnership with CredPal appeared first on CredPal.

Matters of the heart and wallet

CredPal — Tue, 08 Feb 2022 18:00:21 +0000

Valentine’s day is a holiday that is popularly observed as a day to celebrate love. Whether you’re single, happily coupled, or still in the beginning stages of a brand new relationship, this period is when you get all ready to show and receive love. Let’s discuss valentine’s day gifts and how love syncs to money these days.

Spending money is a must especially on things like romantic trips, flowers, dinner at a fancy restaurant, and lots more. Love is not a commodity to be bought or sold, but 21st-century love has an equal sync with money. Allow me to take a few lines from Davido’s song “Love is sweet o, but when money enter love is sweeter” which indeed defines how rich we communicate love today.

We all want to experience that deliberate show of affection from our lovers but what happens when you can’t afford it? Being an occasion that happens in the middle of the month means that there is a high tendency that your salary might be halfway gone and cannot meet up with how you want to spoil your partner.

This is why we have come up with a list of restaurants that will allow you to eat, chill, wine, and dine this season and pay later in up to 6 months. We are very flexible in our operations and we wanted to save you the stress of missing out on all the memories you can create with your partner.

Click to see the list of restaurants that allow you to eat, chill and pay later in Lagos.

Creative ways to Celebrate Valentine

A lot of people around the world struggle to come up with the best gifts or ways they can express love. Here are some of the creative ways you can enjoy this season with your partner.

1) Romantic dinner at home

You both can cook a meal at home, get dressed then sit and take a trip down memory lane while you dine together.

2) A box of chocolate

This is one of the best Valentine’s day gifts to give your lover. It’s affordable and readily available, you can even add a bottle of red wine and a handwritten card to spice it up.

3) Picnic

Explore the beauty of nature and go on a picnic at the beach or better still, find a place you both love and just hang out.

4) Cinema

Snuggling up while seeing a movie together at the cinema sounds like a great Valentine’s day.

5) Finally, “The best gift”

You’re probably wondering what is the best kind of gift? Well, It’s a gift that keeps on giving, a gift that you can keep enjoying even after the event or celebration has passed.

A good example is getting gadgets or electronics, clothing materials, cosmetics and so many other things within the CredPal app. You don’t have to empty your account to get any of these neither do you have to pay immediately, you can get it now and spread your payment within 6 months.

In conclusion, valentine is about showing love by splurging on each other, so if money is ever a problem, then login to your CredPal app.

Source

The post Matters of the heart and wallet appeared first on CredPal.