Traditional financial services don’t make it easy for customers to purchase items on credit. Some potential customers are unable to pay the full amount up front — even if they could afford to responsibly finance the purchase in installments.
Retailers lose out when customers can’t buy what they want when they need it, and their customers lose out too. This impacts brand loyalty, repeat business, and their bottom line.
Lipalater’s platform, powered by a proprietary credit model, enables retailers to sell their products to customers, on credit, at point of sale, with customers paying for their purchases in affordable, monthly instalments.
Lipalater can increase retailer’ sales by up to 30%, and increase customer retention by 25%. They currently have over 500 retail partners they are working with across Kenya and Rwanda.
Lipapater is looking to partner with financial services companies and major retailers across Africa.