One of the deterrents to settling needs and wants is the thought of the level of financial impact such moves can make. For the most part, we always want to remain financially stable after any purchase. Scenarios where people go broke after making purchases aren’t healthy, as they will struggle to meet other needs and emergencies. This fact can be seen as the rationale behind the “Buy and Pay Later System”.
With the “Buy and Pay Later” System, people can purchase items and pay in installments. This means they do not have to bother about being able to afford the full payment at once, which in turn increases affordability for the consumer and also increases sales for the manufacturer.
Some merchants/businesses offer their own proprietary system that allows their customers to pay in installments, while others do not. Thankfully we do not have to stick to just those merchants offering proprietary installments, as there are also third-party provisions. Some of these provisions will be discussed here as we explore 4 buy and pay later services in Nigeria.
1. CD Care
In as much as the provisions in this article were not listed in any particular order, I cannot deny the fact that CDCare is a personal favorite of mine. This is due to the ease CDCare brings.
CDCare is basically an E-commerce platform. However, what sets it apart from many others, is its mode of payment. Unlike many E-commerce / online stores out there, CDCare allows its users to pay in installments, which in turn allows people to purchase what they need /\want, without having to feel the impact of spending a large sum at once.
Inside the app, you are presented with a plethora of electronics. You are to select the one you desire, then proceed to select payment in installment method, fill in the particulars, and read the terms, after which you receive the item. It is legit one of the well-planned “Buy and Pay Later” provisions available in Nigeria.
Thankfully, CDCare is available as a mobile app on the Google PlayStore, as well as on the AppleApp Store
2. Carbon Zero
Enter one of the top instant loan apps in Nigeria. Carbon has made a spot for itself in the loan industry, making loans more accessible to Nigerians.
Leaping forward, Carbon Zero has a system designed to help people purchase things and pay in installments.
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How does the Carbon Zero by and Pay Later system work?; well, to access the system, you have to follow the steps outlined below:
- Download, register, and launch the Carbon Zero mobile app (You can download the app from either the Google PlayStore or the Apple App Store)
- Tap on split purchase
- Confirm your limit from the landing page (This is how much you can take as a loan)
- Tap on purchase an item
- Select your plan repayment duration (Month, weekly, etcetera)
- Proceed to pay a 25 percent down payment
- Wait to get credited(The card associated with your Carbon account will be credited)
- Proceed to use that card to pay for the Item
3. EasyBuy:
EasyBuy falls in place as one of the most popular “Buy and Pay Later” services. It is so popular that many people apply it as a synonym for “Buying and paying later”.
What exactly does the EasyBuy Platform offer its users? Well on the platform, users are able to purchase mobile phones and pay in installments. (There is also a chance that you may find this article in a time when EasyBuy may have expanded beyond mobile phones)
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EasyBuy requires an initial deposit of 30 percent and the payment can be made within 3-12 months depending on the plan you choose. (This was the information gathered at the time this article was being prepared)
To initiate the buy and pay system, you will be required to provide a valid Identity card, and ATM card valid for 7 months or more, the contacts of four people close to you this people will include (your parents, spouse, colleagues at work, friends) and your BVN.
To get an idea of the EasyBuy partnering phone shops in your state, It’s best you contact EasyBuy via the details on the app. If you don’t want to do that, then you can subscribe by going to the depot of phones in your state for example, ‘Computer village” in Lagos. There is a high chance you will find a plethora of phone shops there that are partnering with EasyBuy.
4. Credpal:
Still on the topic of best buy and pay later services in Nigeria, Credpal is another highly recommended platform.
Credpal works with a merchant link/barcode system, which makes it suitable for shopping for dealers with an online shop annex.
To use Credpal, you are required to either paste the merchant’s purchase link in the app or use the app to scan the merchant’s barcode. This links the Credpal to the merchant. Once this is done, you will required to fill in some particulars, which include the time frame you wish to pay spread the payment, and more.
if you are confused about getting the merchants’ link / Barcode, you contact Credpal for accurate details via emails to hello@credpal.com
Credpal is available on both the Google PlayStore and the Apple App Store
Wrapping up: There you are have it – a comprehensive list of my top 4 buy and pay later services in Nigeria. Please you are advised to read through the terms and conditions of each platform, so you can better understand how things operate before you proceed to doing business. Having said that, if you have any contributions other recommendations, or something you feel we should know about the aforementioned platforms, feel free to let us know in the comment section below. We would love to hear from you.