Mastercard & Lipa Later Group partner to Expand Buy Now, Pay Later Solution in Africa

Mastercard and Lipa Later Group have joined forces to expand the Buy Now, Pay Later (BNPL) solution across the African continent. Through this strategic partnership, the two companies aim to provide flexible financing options to empower individuals and businesses, promote financial inclusion, and drive sustainable economic growth in Africa.

Mastercard’s extensive network of merchants and innovative payment methods will play a crucial role in enabling individuals and businesses to access products and services seamlessly. This partnership opens up new opportunities for consumers and merchants to benefit from digital payment solutions that were previously unavailable to them.

Shehryar Ali, the Country Manager for East Africa at Mastercard, emphasized that financial inclusion is a core mission for Mastercard, and this collaboration with Lipa Later aligns perfectly with that vision. By leveraging technology, Mastercard and Lipa Later aim to provide digitally secure payment solutions and promote seamless consumer experiences through the Buy Now Pay Later model.

With instant Know Your Customer (KYC) capabilities, customers can easily access financing options at checkout while shopping. This streamlined process will facilitate access to credit for previously underserved communities and drive economic growth across the continent.

The BNPL solution will offer flexible financing options both online and in-store, allowing merchants to increase their average basket size and cater to a broader customer base. This expansion of Buy Now Pay Later and lending solutions in Africa marks a significant milestone for Lipa Later, showcasing their commitment to empowering individuals and businesses through financial inclusion.

By bringing together Mastercard’s expertise in digital payments and Lipa Later’s commitment to financial inclusion, this strategic partnership is set to transform the way Africans access credit, shop, and do business. It represents a step forward in promoting inclusive financial services and driving economic prosperity in Africa.