Accion Microfinance Bank and Justrite Superstore, an e-commerce firm, are partnering to enable customers to purchase goods from the store and pay back later.
This was disclosed at the signing of a Memorandum of Understanding at Accion MfB’s office in Lagos State.
The duo said the partnership would encourage creditworthiness among the customers as only qualified customers would benefit from the initiative.
The Managing Director, Accion MfB, Taiwo Joda, said the initiative would enable customers to make purchases and pay back later.
While everyone was free to apply and benefit, he said only credit-worthy customers would be considered for it.
The managing director said, “We are launching a collaboration between Accion Microfinance Bank and Justrite. We will be providing the needed funds for customers of Justrite and our customers to be able to buy products from Justrite and pay later.
“We are providing the financial capacity for customers to walk into any Justrite shop and shop and some may decide to pay in a week, a month, or the next day. The initiative is like a credit wallet or loan.”
According to him, with the technology it has, it would look at the individual customers selected, their financial history, capability, and willingness to pay, and put all these together to see their creditworthiness.
He added, “Your credit history will show how much should be given to you. It is going to be for customers who qualify but everybody can apply.”
