CredPal, a Nigerian Buy Now and Pay Later fintech startup, has partnered with Bolt Nigeria, one of Nigeria’s largest ride-hailing platforms, to give Bolt users the option to ride and pay for rides later. The “Ride-On” feature is now available as a checkout option on the Bolt app. Users can choose it instead of paying with cash or a with credit card, which is what they can do right now.
The partnership will allow Bolt customers in Nigeria to use Credpal’s “buy now, pay later” option to pay for their rides and deliveries. This means that customers will be able to split the cost of their rides and deliveries into smaller, more manageable payments, rather than having to pay for them all at once.
Nigerian Buy Now and Pay Later (BNLP) start ups are becoming more and more popular, and CredPal is one of the best places for Nigerians to get credit financing solutions. These platforms let their users pay for goods and services (in instalments) that they would have had to pay for all at once.
How Does this Work?
- First, anyone who wants to use CredPal must download the app and sign up as a user which is available on both the Google Play Store and the Apple Store. This is so CredPal can check their creditworthiness and cover the cost of their trip.
- Once this is done and successful, Bolt Nigeria app users can choose “CredPal” as a payment method, which will give them the option to pay for their Bolt rides at the end of the month.
- Unlike other ways to pay for BNPL rides, “Ride On” from CredPal does not require users to pay part of their fare during the ride.
In addition to making online payments more accessible, the partnership also aims to improve the customer experience for Bolt users in Nigeria. With the “buy now, pay later” option, customers will be able to take more rides and make more deliveries without having to worry about the cost. This will make it easier for them to use Bolt’s services and may lead to an increase in usage.
Conclusion
In conclusion, the partnership between Credpal and Bolt is an exciting development for fintech in Nigeria. By making online payments more accessible, it has the potential to open up a whole new market for e-commerce and online services in the country. It also highlights the importance of partnerships between fintech companies and other businesses in order to drive innovation and improve the customer experience.