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e-Hailing service Bolt has partnered with CredPal a Nigerian fintech startup to offer a service many commuters have been waiting for.
The partnership between CredPal and Bolt will mean users can opt to ride now and pay later for a commute to their destination.
The incoming service means commuters will sign up on the CredPal app to activate an option to pay for their Bolt rides at the end of the month.
This will most likely boost usage for the e-hailing service Bolt to attract patronage to its service.
This Buy now Pay later strategy in the Nigerian market could catapult many startups to launch the service in other parts of the world should the trial period be effective.
Most startups have been offering the option for the past three years to enable users to purchase products and services only to pay later.
The new feature to allow patrons to pay later seems to be a hit not only in Nigeria where the Bolt, CredPal partnership has mushroomed but a hit all over the world.
The credit market has been a challenge to launch in the Nigerian market as most residents lack access to credit, making purchases in the country a mission.
Customers often have to pay once of payments out-of-pocket, a culture slowly migrating out of the dark ages.
CredPal users in Nigeria can now take Bolt rides and pay later.
The catch is that users only have access to the feature after they have signed up on the CredPal app.
Users can then select the pay option to pay the cost of a ride at month end.
Users opting for the service will most likely have to meet a certain criteria so that repayments coincide with the users salary date.