Olaogun said in instances where consumers pay back before two months, they might not pay any interest — which is covered by fees the company charges merchants. The platform serves as a point-of-sale infrastructure that enables BNPL through a credit payment link, checkout plugin, QR codes, and a transaction management system. Nigeria’s ThankUCash secures $5.3M to build infrastructure for cash back, deals and BNPL servicesAs CredPal looks to expand both product-wise and geographically, the company said part of the new investment will also help it secure a partnership with telecom operator Airtel Nigeria to allow low to middle-income earners to purchase smartphones in instalments. Speaking of merchants, CredPal has 20,000 merchant sign ups; however, it has onboarded over 4,000 with only 600 being monthly active merchants. But becoming a market leader in Nigeria or Africa isn’t CredPal’s for the taking.