Paylater by One Finance (www.paylater.ng) is one of the Numerous Online Lending Platforms in Nigeria.
But they have recently kickstarted a Beta Program on their app, where a selected number of beta testers are able to have access to new features, before those features get onto the main app.
I am one of the beta tester, having used the PayLater service a number of times.
Recently, they upgraded their app to be able to handle payTV subscription, vend data / airtime, and transfer money. From what I can see, the new features are very very well implemented, like the original app.
For example when you specify an account number, the app is intelligent enough to show ONLY relevant banks (based on the account number) to select from.
I noticed there doesn’t appear to be any charge made for transferring money. That opens interesting possibilities for people in the money transfer business.. if it remains that way. And yes, banks should / would be worried, if the situation remains this way.
By the way, GTB recently sent this…
Dear Customer, We Have Reduced The Charges On Nip Transfers. This Means That, You Now Pay N40 Only When You Transfer Money To Other Banks Via *737#
Every offering on the PayLater App is comprehensive (even more comprehensive than many other services that are singularly for bill payment / money transfer). Thsor thoroughness reminds me of the ZOTO app.
Top marks for this. No crashes. Everything just works seamlessly.
The competition in the Bills Payment arena is certainly heating up and services like fetsWallet, QuickCash, CellulantWallet, NairaBox and Paga have to, constantly, keep on their toes, by enhancing their service offering, to continue to stay relevant.!
I expect ZOTO to add additional features to their service offering too, soon.
One thing PayLater can do to make things even more attractive is offer discounts on some of their offerings, the way some similar services do. How about jettisoning convenience fee on payTv payments, for inatance or offerong odrcentages off call credit purchase through the app.?
Also, their website seems go load only on laptops and not on Mobile phones running lightweight browsers, limiting lots of people to just Their App.
Great job, One Finance.!