Bolt has introduced a ride-now-pay-later option in Nigeria, in partnership with Nigerian BNPL start-up, Credpal.
The option means Nigerians will soon be able to take quick rides anywhere and pay for them later.
Credpal, a BNPL startup based in Nigeria, has developed Ride-On, its product offering that serves as a checkout option on Bolt, instead of cash or card. The flow is simple: Credpal pays for its users’ day-to-day Bolt rides during any given month and requests bulk repayment by the month’s end—which coincides with payday.
“This partnership gives riders access to a much-needed alternative that meets their mobility needs…” Bolt’s country sales manager, Kwaku Ampadu-Manu said.
Meanwhile, the high cost of ride-hailing services is a issue in Nigeria, just like in other countries across Africa. So, industry watchers are still asking whether Nigerians would turn a blind eye to the costs because they can pay later?
This is a question the market would eventually answer as Credpal takes on this mission to integrate credit facilities into the day-to-day lives of Nigerians. Hopefully, Credpal proves the existence of its market, just as India’s Ola Money was able to do with its BNPL offering for cabs.