Carbon Bank Launches Buy Now Pay Later App

Carbon, a credit-led Pan-African digital bank on Friday announced the launch of Carbon Zero, a buy now, pay later web app which helps customers spread the cost of purchases into interest-free instalments, in-store or online.

Since its inception in late 2021, the bank says Carbon Zero has generated $5.44million in requests from 41,000 customers who have applied for a spending limit.

Carbon decision engines can automatically assess affordability and give accurate credit decisions in seconds. By simply sharing their BVN and bank account number, millions of people can make purchases with interest-free credit seamlessly.

Based on affordability, Carbon Zero allows customers to spend up to $5,919. The platform charges zero per cent interest on all purchases repaid on time.

“We believe that having access to credit and good financial services is a fundamental human right. The costs of basic goods and services are rising and increasingly out of reach for customers, so it’s natural that people need help financing what we consider everyday modern necessities.” Chijioke Dozie. CEO, Carbon.

Carbon was founded in 2012 as One Credit to give loans to salary earners in Lagos, then introduced a raft of alternative services like bill payments, airtime purchases, and issuing free credit reports to users.

The company’s headquarters are in Lagos, Nigeria, with operations in Nigeria, Ghana, and Kenya,