Carbon Introduces New Online Service into Banking App

October 14, 2021
8 Views
1 Comments

Nosa Alekhuogie

Carbon, a digital bank active in Nigeria, Kenya, and Ghana has announced the rollout of its buy now, pay later product dubbed ‘Carbon Zero’ to eligible customers on its mobile application.

Carbon Zero, it said in a statement, gives Carbon cardholders the option to split purchases into four installments, to be paid back over time at a zero interest rate.

“With spending decisions getting harder to make, and with the rise of budgeting apps, which could take days, weeks, or even months to buy desired items, Carbon says it has made it easier for people to get items exactly when they need them. Customers can conveniently split payments into four interest-free installments over six weeks, all at a fair and transparent cost. They also receive value for the items upon payment of the first installment of 25 per cent of total cost, at the time of purchase.

“Buy now, pay later services are not new — but what makes Carbon Zero stand out from credit card companies and digital lenders in the space is that Carbon Zero, as the name suggests, does not charge customers any interest. With Carbon Zero, the Bank is removing exorbitant fees and creating a more financially responsible way to pay, “it stated.

“Another key differentiator for Carbon Zero is its availability across various stores and not just its affiliate store partners. Customers have access to an unlimited range of products and brands in fashion and beauty categories, gadgets, furniture, electronics, and more service-based experiences like travel, education, and healthcare. By adopting a direct-to-customer (D2C) approach, Carbon has become the first BNPL provider in Africa to offer a merchant-agnostic payment experience, as customers can shop anywhere Visa cards are accepted, “it added.

Product Manager of Carbon Zero, Ibrahim Ayenajeh, said: “As humans, our most important and expensive asset is time. Zero is a payment option that significantly shortens the time to achieve a better quality of life for individuals. We are providing consumers the ability to be more flexible with their funds and extend a helping hand for those short periods funds may not necessarily be available.”

“Carbon Zero is accessible to all Carbon account holders who have carried out a minimum of three transactions worth N5,000 each with their Carbon Visa Debit Card. Eligible customers are given a pre-approved limit – up to a maximum of N100,000 – which they can use to make a Zero Payment. It has a minimum purchase value of N5,000 and can be used for both online and in-person (POS) purchases.

“Carbon has also invested in making this process as seamless and efficient as possible; using data and analytics to assess customers and provide them with pre-approval limits that fit their financial profiles, ensuring responsible spending,” Ayenajeh said.

You may be interested

Ghana ready to share ideas, experiences – VP Bawumia
Politics
2 views
Politics
2 views

Ghana ready to share ideas, experiences – VP Bawumia

webby - October 16, 2021

Vice President Dr. Mahamudu Bawumia and Vice President of the Co-operative Republic of Guyana, Bharrat Jagdeo Ghana is ready to…

“You’ve all been cowed” – Mahama criticises media for not probing corruption allegations against government
Politics
3 views
Politics
3 views

“You’ve all been cowed” – Mahama criticises media for not probing corruption allegations against government

webby - October 16, 2021

Former President John Dramani Mahama has criticised the Ghanaian media over what he describes as failure to probe the current…

Golden Sunbeam raises concerns over NaSIA list of schools licensed to run Cambridge Assessment
Politics
1 views
Politics
1 views

Golden Sunbeam raises concerns over NaSIA list of schools licensed to run Cambridge Assessment

webby - October 16, 2021

Golden Sunbeam raises concerns over NaSIA list of schools licensed to run Cambridge Assessment The management of Golden Sunbeam International…

One Comment

Leave a Comment

Your email address will not be published.