Jumia, Watu Credit unveil BNPL model for smartphones

NAIROBI, Kenya, Sept 17 - E-commerce platform Jumia has partnered with Watu Credit to roll out a buy now, pay later (BNPL) model that enables Kenya breaking news | Kenya news today |..

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Jumia and Watu Credit have partnered to launch a buy now, pay later (BNPL) model for smartphones in Kenya, allowing customers to purchase devices on Jumia and pay in daily, weekly, or monthly installments.

Smartphone penetration in Kenya is estimated at 80 percent.
The initiative aims to help users upgrade to reliable devices, financing premium brands like Samsung.
Watu Credit’s Country Manager, Erick Massawe, stated that their financing model allows customers to pay as they go while building a credit history.
Since 2022, Watu Credit has financed nearly two million devices in Kenya.
Initially, Jumia’s agents will facilitate the financing, with plans for a direct online access rollout in the coming months.

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