Fehintolu Olaogun, the CEO of CredPal joins me on Tech Talks Daily to share his story. This consumer credit startup has offered BNPL infrastructure to African retail merchants since 2018 and has garnered interest insights in the niche.
For example, one exciting perspective he shares is that while BNPL is often regarded as a tool for impulse buying elsewhere in Africa, it’s a necessity because many cannot afford upfront payment for essential items. Having served over 4000 merchants and now looking to scale across Africa, CredPal has a great vantage on BNPL and consumer credit in Africa.
About CredPal
CredPal is a financial technology company that has developed an innovative solution that allows businesses and individuals to buy anything and pay for it in installments across online and offline Merchants by providing them with instant access to credit at the point of checkout.
Once a Merchant partners with CredPal to accept and use our services, CredPal will onboard the Merchant on its platform by having the Merchant register or by registering the Merchant on a dedicated platform. CredPal may list the Merchant’s business on the CredPal mobile application and/or website (“Marketplace”), such that CredPal’s users or the Merchant’s patrons are able to pay for goods and services using credit advanced by CredPal.
The Merchant will ensure that there is equality between the offerings (e.g. listing price and other terms including but not limited to discounts, minimum price, warranties, return and refund policies, after-sales service, etc., regarding the sale of the same Merchant’s products and services) by the Merchant on other e-commerce platform and offerings on Marketplace.
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