Online shopping mall, Konga is partnering with One Credit, a micro-finance bank that helps to provide short-term and affordable consumer credit to individuals who have limited access to finance, to allow customers pay for their online purchases in three equal monthly installments.
Konga initiated the pilot programme for the “Buy Now, Pay Later” initiative a couple of months ago, with One Credit as the financial partner, for customers that had maintained their customer accounts for a certain while and had achieved some level of identity validation.
But the scheme will be open to more members of the public in the coming weeks. For people to be able to “buy now, pay later”, they have to satisfy the One credit criteria; after which they will get up to 50,000 credit that they subsequently have to repay over three months.
“We hope to continue to increase it as time goes on. On a corporate scale, we will also provide some form of “Buy Now, Pay Later” for staff of partner companies plus we also help with conversion of company loyalty points to shopping credit on our website” says a Konga representative.
The service is offered to only pre-approved customers. Your purchases and how long you have been a Konga customer are considered. Prequalified candidates are already receiving notifications of the service.