LipaLater

#Buy Now Pay Later (BNPL)

Lipa Later is a financing platform that enables consumers to purchase products and services online or in-store and pay for them in installments over a specified period. The Lipa […]

Certified payment providers N/A
    Market coverage 6
    • Kenya
    • Nigeria
    • Rwnada
    • South Africa
    • Tanzania
    • Uganda
    Currencies 1
    • Kenya Shilling
    Description

    Lipa Later is a financing platform that enables consumers to purchase products and services online or in-store and pay for them in installments over a specified period.

    The Lipa Later platform works in partnership with merchants and service providers to offer customers the opportunity to make significant purchases without having to pay the full amount upfront. It allows consumers to acquire goods such as electronics, furniture, appliances, etc., by making monthly payments over an agreed-upon period.

    To use Lipa Later, customers need to first register on the platform’s website or through the Lipa Later mobile app. They are required to provide personal and financial information, such as their name, phone number, address, and income details. Once their application is approved, customers can begin making purchases using the credit provided by Lipa Later.

    The payment terms and associated fees depend on the purchase amount, the duration of the installment payments, and Lipa Later’s specific policy. Customers can view the details of their payment plan, including the monthly installment amount, due dates, and applicable fees, through their Lipa Later account.

    Lipa Later aims to facilitate access to products and services for consumers who are unable to pay the full amount upfront. However, it is important to note that using Lipa Later incurs interest and additional charges, and it is essential to understand the payment terms before entering into an agreement with the platform.

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    Frequently Asked Questions

    What are the best practices for managing cross-border payments?2023-04-18T18:56:57+02:00

    NORBr is a payment orchestrator that connects you to all cross-border payment services providers that can help you manage your cross-border payments efficiently and securely, while also ensuring compliance with relevant regulations. NORBr offers advanced features like fraud detection, currency conversion, and real-time tracking and reporting, which can help you optimize your payment processing for cost efficiency and speed.

    What are the risks associated with cross-border payments?2023-04-18T18:57:21+02:00

    Cross-border payments can be associated with several risks for you, including currency fluctuation risk, regulatory risk, and fraud risk. Currency fluctuation risk refers to the potential impact of exchange rate fluctuations on the value of your payments. Regulatory risk relates to the complexity of complying with different regulations in different countries. Fraud risk refers to the potential for fraudulent activity, which can be more difficult to detect and prevent in cross-border transactions.

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