Lipalater is Africa’s leading Buy-Now-Pay-Later (BNPL) firm, with a strong platform, powered by a proprietary credit model, that enables retailers to sell their products to customers, on credit, at point of sale, with customers paying for their purchases in affordable, monthly instalments.
Lipalater currently have over 5000 retail partners they are working with and can increase retailer’ sales by up to 30%, as well as increase customer retention by 25% with no risk and a wide reach tapping into new customer segments.
Lipa Later plans to forge more partnerships with merchants to cover more locations in Nigeria.
“Lipa Later is not only changing the consumer credit landscape in Nigeria, which has been largely inaccessible for many, but also catalyzing the future and culture of shopping, e-commerce and payments. We’ve done this in a product and customer-led way that benefits both merchants and consumers, and has proven to be incredibly scalable”, said Country Manager-Nigeria, Lela Omo-Ikirodah.
Lipa Later’s proprietary credit scoring and machine learning system enables consumers to sign up and get a credit limit almost instantly. We have also built a BNPL API which integrates into e-commerce platforms and enables merchants to sell products directly to consumers. This makes it possible for consumers to remit monthly installments for items purchased.
Lipa Later is a multinational digital lending marketplace providing “buy now pay later” services and a leading player in the Nigerian market, the company currently operates in Kenya, Nigeria, Uganda and Rwanda, and looking to launch in new markets such as Ghanaand Tanzania.