Here’s Mobile App Allowing You Borrow From Your Local Shop, Paying Half Of The Debt Instantly

A shop with Paylend services. [PHOTO/ COURTESY]

Even as economic conditions continue to worsen due to Covid-19, mobile App, Paylend, has been saving Kenyans from agony and keeping them afloat in the most difficult moments.

PayLend is a consumer-driven retail financing platform for SMEs, targeted to increase business growth.

It is a holistic platform that enhances trust between business entities and their customers by ensuring value to all users by bridging the credit gap.

The app developed by Ada Labs Africa allows customers to borrow from their local shops, then pays half of the debt to the shopkeeper. The balance is cleared when the borrower pays for what he/she borrowed.

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Millions of Kenyans have been struggling with accessing funds for basic needs such as; food, shelter, clothing, health and education and Paylend has been able to bridge this gap by providing a credit for goods platform to everyday consumers.

“Paylend’s main target is the service provider who includes the shopkeeper, medical officer who operates a clinic facility, a vet or extension services officer who runs an agrovet outlet and mainly small businesses, specifically mama mbogas, food vendors and kiosks. They have been able to make access to services and products between the retailer and the consumer much easier by revolutionising the credit industry. The app ensures that even after offering goods on credit, the retailer does not face financial constraints or lack money to further keep the business running,” the developers say.

Paylend also allows for consumers who purchase on credit to keep track of these payments, ensure continuity to their retailers and improves transparency of credit requests.

All you need to do is to download the Paylend app on your phone, register and sign up as a shopkeeper and the dash board, click on wallet where you will view received credit request from customers and if agreement to the customer’s credit request, click ‘Ok’ and the transaction will be successful.

You will receive a notification of money transaction into your Paylend wallet in accordance to the credit taken.
To access the money in your wallet, withdraw using Mpesa feature found in the wallet.

How it Works;

How to register and offer goods on credit to customers:

  • Download the Paylend app on your phone
  • Register and sign up as a shopkeeper
  • On the dash board, click on wallet where you will view received credit request from customers
  • If in agreement to the customer’s credit request, click ‘Ok’ and the transaction will be successful
  • You will receive a notification of money transaction into your Paylend wallet in accordance to the credit taken. 
  • To access the money in your wallet, withdraw using Mpesa feature found in the wallet.

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