Carbon launches a Buy Now, Pay Later web app in Nigerian Fintech

Carbon Zero, a Pan-African digital bank led by Credit, has been released today. It allows customers to spread the cost of purchases into interest-free installments in-store and online. 

Carbon, headquartered in Lagos, Nigeria, also has operations in Ghana and Kenya. Since its inception in late 2021, Carbon Zero has generated ₦2.3 billion in requests from 41,000 customers who have applied for a spending limit.

Instant Approval

Using proprietary technology Carbon has been developing and improving throughout their 10 years as a credit provider, Carbon’s decision engines can automatically assess affordability and give accurate credit decisions in seconds. Millions can seamlessly make purchases using interest-free credit simply by sharing their BVN or bank account number.

Carbon Bank launches the future of payments for Africa with Zero Buy Now Pay Later (BNPL)
Carbon Bank announces the future of payment for Africa: Zero Buy Now, Pay Later (BNPL). 

Market-Leading Investment Amounts

Carbon Zero’s affordability allows customers to spend N2.5million. This is far higher than the spend limits offered by competitors, with most being somewhere between ₦150,000 and ₦500,000. This makes the web application the obvious choice for customers with higher purchasing powers.

The best interest rate is 0%

This one’s easy to explain. The web app charges zero percent interest on all purchases. All payments must be made on time and in three installments. This gives the web app an advantage over other BNPL providers who charge interest for shorter tenors.

“We believe that having access to credit and good financial services is a fundamental human right. The costs of basic goods and services are rising and increasingly out of reach for customers, so it’s natural that people need help with financing what we consider everyday modern necessities.” Chijioke Dozie. CEO, Carbon.

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