Lipa Later is revolutionizing the way you buy products online with a focus on helping consumers ensure they can still make ends meet.
Online retail segment in Kenya has been growing consistently in the last few years riding on the back of increased connectivity and the digitization of retail shopping (ecommerce).
The trend has further been intensified by the rapidly evolving consumers’ shopping behaviours as well as mobile digital habits.
Today, you can easily purchase goods and products through online payment right at the palm of your hands and have them delivered to your doorstep at your convenience.
Among the ever-increasing eCommerce options, a new and unlikely player has capitalized on the wave. Buy Now Pay Later Solution (BNPL).
The BNPL solution, which allows consumers to pay in interest-free instalments, continues to grow in popularity as people seek alternative methods of financing, a trend exacerbated by the coronavirus pandemic.
One such startup in the scene is Lipa Later, a Kenyan redefining the BNPL market by enabling customers to pay overtime anywhere, instantly.
Lipa Later, an extended credit facility, offers payment plans for consumers looking to buy products or services in monthly instalments, or retailers looking to sell the same.
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The Pan-African financial service provider is leveraging technology to help consumers ensure they can still make ends meet. It has done this by bridging the gap between the consumers and the seller offering value to both parties.
Today, Lipa Later has partnered with over 500 retail stores that deal with a variety of products or services that customers typically buy through financing partners.
For the customer, Lipa Later has consolidated a number of vendors that accept Lipa Later financing within their stores making it easy for them to identify where they can actually make their purchases.
How Lipa Later Works
Users can start using the services instantly without any application processes or background checks.
The Buy Now Pay Later business model generates profits mainly from the merchant fees and the late fees collected from customers.
One such firm that is riding on this wave is Lipa Later, a point-of-sale short-term lending platform that allows customers to make purchases at retailers without having to pay the entire amount upfront. Instead, they pay off their balance in instalments.
Lipa Later allows users to shop hassle-free at over 500 stores and spread your payment over affordable and flexible monthly instalments.
