PayLater Pioneers Credit-Based Online Shopping in Nigeria

A new platform has been launched in Nigeria to allow online shoppers to purchase products on a buy-now-pay-later basis. allows users to shop across its growing network of partner stores, which include,, and, while plans are underway to add further stores in the near future.

To use the platform, individuals are required to follow a simple one-time online application process followed by a quick verification call. Approval can be obtained within 48 hours after which the user could begin to shop, with access to exclusive promotion deals and increasing the amount they can borrow over time.

The platform also allows users to build their credit history and credit rating with credit bureaus, thus improving their access to future bank loans.

PayLater – which has partnered with loan provider One Credit – currently charges all its customers a 10 per cent commission across 30 days, while late payment attracts additional charges.

“Currently, you can only make one transaction up to your credit limit. When you make repayment you’ll have access to your credit again,” PayLater stated on its website.

“We endeavour to ensure that wallets are topped back up promptly following receipt of your payment, so you can continue to spend at your convenience. As above, we make every effort to make sure your account is topped back up within 48 hours of payment. However, in some cases it may take as long as seven days.

“If you have successfully reimbursed at least one transaction, you may request a credit limit increase by email or phone. Limit increases are at One Credit’s sole discretion and are fully revocable.”

Originally Published on Human IPO.

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