Kenyan startup Lipa Later has partnered with Mastercard to enhance Buy Now, Pay Later (BNPL) solutions in Africa, initially in Kenya and later expanding to Rwanda, Uganda, and Nigeria. Lipa Later, founded in 2018, aims to promote e-commerce, financial inclusion, and shopping through its integrated platform. The partnership with Mastercard intends to provide tailored BNPL options and improved payment capabilities, utilizing Mastercard's merchant network and advanced technology infrastructure. This collaboration aims to empower individuals and businesses, enhancing access to essential products and services while simplifying credit access and transactions. The BNPL solution will offer flexible financing at checkout, both online and in-store, with instant Know Your Customer (KYC) processes for smoother experiences. The partnership aims to drive financial inclusion, stimulate economic growth, and transform the retail industry in Africa.
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