This online lending app is making waves in Nigeria

The PayLater app allows anyone resident in Nigeria and who has a monthly income to sign up and take an initial loan of N10,000. That sounds small; right? But that is part of the beauty. That saying about one being faithful with little applies. You earn points each time you make a timely repayment and lose points if you default. As you accumulate more points, you can borrow more money at lower interest rates.

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