BANKING

Paylater Rebrands As Carbon

Nigerian fintech company, Paylater, has relaunched as ‘Carbon‘ and has added new services that go beyond banking services. This rebrand marks the company’s transition to a fully-fledged digital financial services platform that now offers bill payments, fund transfers and savings products, in addition to loans. 

This new development lays the foundations for Carbon’s focus on providing a wide portfolio of services for its customers, as it introduces in-app credit reports and partners with Visa to provide credit via QR codes.

Other services that come with the name change include free credit reports and a wallet for its customers to perform discounted transactions. The company also has plans to provide health insurance for its customers and will be launching their own virtual Visa card in the future, for customers to handle transactions. 

According to the company’s co-founder and CEO Chijioke Dozie,“It was very deliberate –most of our customers only know us as Paylater which conjures up images of credit, but we have grown as a company to offer so much more.

Carbon is one of the most essential elements for human life, it is found in all life forms and is extremely versatile. So to us, Carbon represents our aspiration to go everywhere with our customers, become an essential part of their lives and be versatile enough to change or innovate to fulfill their needs. We know what our customers’ pain points and needs are when it comes to banking in Africa and we are building financial products around them”. 

Co-Founder Ngozi Dozie added: “We’re in a competitive space but whoever serves the customer best will reap the rewards. That’s been the thinking behind our product evolution, whether it’s our Bloom account targeted at female entrepreneurs or the partnerships we’ve been working on in the healthcare sector. The focus is on being attentive to what our customers want and need”.  

Asides the rebrand, the company recently acquired payments company Amplify, to aid its new financial services. Carbon also secured a $5mn investment from fintech platform Lendable and in 2018, became the first African fintech platform to secure a Credit Rating

The updated Carbon mobile app is now available for download on the Google Play Store.

This post was originally published here

Whether you’re a farmer, builder or engineer, the opportunities are equal; just add a little innovation.~Strive MasiyiwaTweet
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Briefcase Africa focuses on the African business landscape by highlighting opportunities for investments, connecting investors to relevant in-depth information, inspiring enlightening conversations about Africa’s rising narrative, and fostering economic success across the continent.

We represent a new paradigm on African business information publication and its consumption. We are actively changing the rhetoric and sharing the compelling stories of a business-ready Africa.

Never miss out!

Stay tuned with our weekly Briefs of articles worth reading

Copyright © 2018 ADE Digital Media Ltd

To Top

Sign up to Get Insights, Articles, Reports and Research on the African Business.

Take deep dive into understanding Africa’s game changing market indices and trends.

Make informed business decisions.
* we never share your e-mail with third parties.

Thank you

Share Briefcase Africa with your friends, they will thank you for it