Nigerian shoppers are beginning to see a difference in the way they buy and pay for items. Thanks to the buy now pay later schemes that are now available to them. This financial solution allows individuals to buy phones/anything else and pay for it later in installments.
You may be able to pay for the products at a reduced rate. This would mean coming to pick them up when you’ve completed your payments. Unlike websites that provide Pay-On-Delivery, Buy Now Pay Later stores to offer a payment option that is more equivalent to taking out a loan with no interest rates. There are several platforms, fintech solutions, and businesses these days that allow individuals to buy now and pay later.
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Requirements to qualify for buy now pay later stores Nigeria
Before you will be able to Buy Now and Pay Later on these platforms, you will need to meet some of their requirements. Once you have all the necessary documentation, you can explore the top Buy Now Pay Later stores in Nigeria. In these stores, you may get electronics such as the newest Inverter AC or even some low-cost smartphones.
The following are the prerequisites for buying now and paying later:
As a Nigerian, you must have certain paperwork that would allow you to buy now and pay later. How do you know whether you are qualified to apply for this credit opportunity? So, here are some essential papers below that you need. If you have them, you may apply to the buy now and pay later at any Nigerian store or platform.
- 6 months of your SALARY bank statement
- Bank Identification Number (BVN)
- Work ID CARD/Employment letter
- A valid Government Issued ID CARD (either Driver’s license, National Identity Card, Voters card, or Nigeria passport)
List of the best buy now pay later stores in Nigeria
After you’ve confirmed that you have all of the necessary documentation to buy now and pay later, you can go ahead and check out or do some research on the buy now pay later stores featured in this post.
#1. Spredda
Spredda is a Nigerian e-commerce site where you can purchase various products. These include home appliances, electronics, mobile phones, furniture, laptops, generators, fashion and beauty items, and sports and fitness equipment at low prices. They offer two choices for buying and paying later: PayQart and Lay-by.
When you use the PayQart option to buy now and pay later, you are allowed to carry the item with you and will be offered a six-month repayment duration. This comes with a small interest charge if payment is not completed within six months. Lay-by, on the other hand, does not elicit interest and allows your goods to be reserved for three to four months with a 20% down payment. Spredda is one of the best Buy Now Pay Later stores in Nigeria with a good customer relationship.
#2. Easybuy
Easybuy is a mobile-based loan app and one of the best loan apps in Nigeria. With this app, anyone can loan any amount from 10,000 Naira to 50,000 Naira with a 6% interest rate that you can pay back between 91 days to 180 days. While Easybuy allows you to borrow money, you can also buy smartphones of any brand on Easybuy and pay in installments. Easybuy makes it simple to buy now and pay later. The app is currently only available for Android users and has over 1 Million downloads on the Play Store.
If you wish to buy an item on Easybuy, you must pay at least 30% of the purchase price. After you will be asked for the tenure you will use to complete your payment, which can range from 3 to 6 months. You must link your bank account, and the amount you agree to pay monthly will be deducted from your account until all payments are made. Palmcredit owns and operates Easybuy, which is one of the best Buy Now Pay Later stores in Nigeria.
#3. CDcare
CDcare is a popular marketplace in Nigeria that is available on Android, iOS, and the web. This website enables Nigerians to purchase whatever devices or household equipment they choose, utilizing the Buy Now, Pay Later approach, at no cost. You can buy anything you need on this website, from phones to gadgets to kitchen equipment like refrigerators, microwaves, and many more.
When purchasing an item from CDcare, consumers are provided a payment plan that allows them to pay an equal amount weekly or monthly. If a consumer makes a 50% down payment, the item will be delivered, and the remaining payment will be processed. A buyer can choose how he or she wants to pay. CDcare is one of the best Buy Now Pay Later stores in Nigeria and is very simple to use.
#4. The Alternative Mall
The Alternative Mall is an e-commerce website based in Nigeria where you can buy home appliances, electronics, mobile phones, furniture, computers, generators, fashion and beauty products, sports and fitness products, and other items at low prices. This website is owned by Sterling Alternative Finance, and it makes buying items easier for both salary and non-salary earners. The Alternative Mall appears to be the best because there are no fees.
Shopping at The Alternative Mall is simple; you can buy now and pay later within 12 months. There is no deposit required, and you will be charged based on your yearly income (which is just 33.3 percent of it). If you meet the eligibility requirements, you will open a SAF account to serve as a repayment account.
#5. Zoomba
Zoomba is another e-commerce platform that makes it simple for Nigerians to buy products. This website has a pay little by little policy that allows you to lock down an item and make progressive payments until the whole balance is paid. You can buy anything on their website, and they offer items such as phones, laptops, home appliances, and much more. Buying now and paying later is possible through Zoomba’s Layaway program, which allows you to have a product marked.
They have rules that they follow when it comes to Layaway. Zoomba is great, but its policies are a little strict since they don’t tolerate nonsense from customers who are willing to breach its policies. So, if you’re looking for a store in Nigeria where you can buy now and pay later, you can always count on them.
Conclusion
Buying now and paying later is a means to acquire what you want even in the most difficult circumstances. These online retailers have delivered so well for Nigerians. You simply need to be eligible to purchase now and pay later.