Ecommerce Archives - 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.

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.

The future of retail: Physical store Vs E-commerce

CredPal — Wed, 09 Mar 2022 16:25:45 +0000

Today’s retail world is changing like never before. The new generation is full of digital shoppers because they have grown up with social media and the internet. From your luxury needs down to your basic needs, both can now be easily delivered to you without any hassle. It is evident that the prevalence of technology will continue to grow and shape how consumers define shopping.

As simple as in-store grocery shopping in the supermarket is, it is becoming less popular these days, as weekly grocery orders can now be easily delivered to the doorstep.  No doubt the transition from traditional retail to modern e-commerce as with all evolution has been relatively slow. However, the reality is that now more than ever, the most successful brands must be able to operate in both worlds.

This article explains how to stay relevant as a business in the 21st century.

Effects of the Pandemic on Businesses

Shopping for goods and services online is nothing new, but the pandemic accelerated the rate at which business owners opened e-commerce shops and consumers shopped online.

According to a survey conducted earlier this year by the United Nations Conference on Trade and Development (UNCTAD) and the NetComm Suisse e-Commerce Association, online sales have “increased by 6 to 10 percentage points across most product categories.”

Moreover, selling online has allowed businesses to access global markets with just a simple click on the internet. For example, CredPal has partnered with entrepreneurs to sell products on their website and enable customers to buy and pay back within a space of 6 months. Here is an example of such.

E-commerce has helped businesses to monitor consumers’ buying habits, as well as understand their needs and wants. This can have a great impact on businesses and is sometimes seen as the better route to survive in a fast-paced developing world.

Similarities between Physical store Vs E-commerce

Both physical and e-commerce aim at providing products and services to the consumer. Also, physical stores competes with similar stores in their fields. Online stores does the same but with major online marketplaces that offer low prices and faster shipping.

Differences between Physical store Vs E-commerce

E-commerce refers to commercial transactions carried out through an electronic network such as the internet. While retail refers to the sale of goods in small quantities from a single point such as a store, supermarket, shop, or mall.

Operation Hours

Physical stores usually have specific operation hours and might close during holidays or on certain days of the week. Whereas with online stores, customers can access and purchase things at any time, enabling more sales and greater convenience.

Accessibility

E-commerce offers accessibility as it serves customers within a wide location and is open on a 24/7 basis, physical stores are only accessible to consumers within a specific region and may not be open on a 24/7 basis.

Cost

Physical stores often have a higher cost in running the business. Contributing factors include: Rent, Employee wages, Utilities and Maintaining inventory.

In conclusion, while the retail industry remains relevant, it is also evident that the future of business lies in e-commerce.

You can read more about it here.

Source

The post The future of retail: Physical store Vs E-commerce appeared first on CredPal.