Absa offers customers ‘buy now and pay later’ solution
Absa Bank Kenya has scaled up its card features by introducing the Buy Now Lipa Pole Pole solution that will allow its credit card customers to manage their expenses. The lender’s Head of Card Payment Linda Kimani said the self-service payment solution on the bank’s mobile and internet banking platform will provide a convenient way to manage customers’ expenses by spreading the cost of their purchases over time.
“The user-friendly card innovation offers Absa’s credit card customers the option to either pay for their purchases in full, immediately or in a structured repayment plan over a defined period of between three to 12 months, thereby stretching their spending power,” she said.
“Given the prevailing economic environment in which many consumers are having to make tough spending decisions, we understand the growing need to manage one’s expenses and make purchases without straining one’s wallet,” Kimani added.
The card feature, she said gives customers the power and ease they need to pay for their purchases flexibly over time.
She said by incorporating buy now pay later payment concept into their budgeting strategy, customers have more room to manage expenses such as payment of school fees or booking for holiday travel while maintaining a healthy financial outlook.
“We expect that the feature will give our customers more cash on hand and therefore more control over their finances, helping them to get things done,” Kimani added.