Sterling Bank Plc has further expanded credit opportunities to its customers with the launch of a new digital credit solution under its fast-growing lending platform, Specta.
The new solution, PayWithSpecta, allows customers to pay for goods in instalments, while merchants are credited instantly; helping businesses increase sales.
PayWithSpecta offers digital credit limits to customers to purchase items in-store at merchant locations or from merchant online platforms. Also, PayWithSpecta gives merchants the opportunity to access credit for their business activities.
Consumers can make purchases at zero percent interest rate at designated stores for those who choose 30to 90 days repayment tenor and as low as 1.75 per cent monthly for tenors of 7 to 12 months repayment tenor.
Divisional Head, Retail and Consumer Banking, Sterling Bank Plc, Shina Atilola, said the new product will enable customers to buy goods from merchants’ in-store and from online platforms on credit.