Bolt Nigeria has announced in partnership with Nigerian start-up, Credpal that they are introducing the credit option that allows their users to ride now, pay later option.
With the fast rising pace of technology in the world, last year, it had been predicted that credit will soon power logistics, commerce and even construction in Africa.
This prediction is now being acted out by Bolt’s announcement of this new credit policy. With this new development, Nigerians will be able to take bolt rides anywhere and pay for them later.
Credpal is a buy-now-pay-later startup based in Nigeria and has now developed Ride-On, its own checkout option for Bolt, this will be the third option instead of cash or card.
With Credpal, the flow is simple. Credpal pays for its user’ Bolt rides whenever they use it during a given month and then requests bulk repayment by months’ end, which coincides with people’s payday.
This partnership according to Bolt will give riders to a much needed alternative that meets their mobility needs.
Still, a lot of skepticism has been brought up about this new payment option as to whether Nigerians who already lament about the increasing costs of ride-hailing services will now not mind the costs because they can pay later.
Nigeria is gradually becoming a cashless economy and so, as expected, online wallets and credit facilities are being utilized now. Credpal is taking on the mission to integrate credit facilities into the day-to-day lives of Nigerians, and that is what this partnership with Bolt will start to achieve.