Spot credit… for spot purchases
FEATURES
An innovative application that complements Modefin’s Merchant Acquiring and Payment solution. Enables the customer to request for micro credit at the checkout counter and get spot approval based on pre-set limits and credit score. Customer benefits from “buy now, pay later” facility, while the merchant is at zero risk having received spot payment.

value proposition Why PoS Lending from Modefin

Increases the scope for credit eligibility for the lower income segment.

Lending can be initiated from the Merchant Solution POS App and functionally linked to the customer’s Mobile Banking app.

Customer may also download App and register for ‘Buy Now Pay Later’ Credit Service using Web/Mobile Application.

Using Maker & Checker Process, Bank staff approves the Application or Credit.

Based on Credit Score, Customer Account is activated with Limits.

Transaction continues in real time on Merchant App and purchase is marked as completed using the current Credit / Loan applied for.
Insights
Success Stories

Universal Merchant Bank Ghana
Universal Merchant Bank (UMB) is a leading indigenous bank in Ghana which offers a diverse range of financial services to meet the banking needs of its customers.

Equity Bank Kenya
Equity Bank Fuels massive Transformation; migrates 3.5 mn SIM application Tool kit users and brings flexibility, stability and cost savings.
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