Credit Direct has introduced a fully digital Buy Now, Pay Later (BNPL) solution alongside other financial products, marking its expansion beyond lending into retail investments and payments for individuals and businesses.
The fintech subsidiary of FCMB Group unveiled these offerings at an exclusive Product Demo Day in Lagos. Licensed by the Central Bank of Nigeria, Credit Direct has served millions of customers nationwide since 2007.
Speaking at the launch, Credit Direct’s Managing Director, Chukwuma Nwanze, highlighted the company’s commitment to supporting individuals and businesses through credit access, payments, and investment products. He emphasized the firm’s capital efficiency, boasting billions in profits, an over 80% return on equity, and one of the industry’s lowest non-performing loan ratios.
The BNPL solution, known as Checkout, aims to provide a seamless credit experience, granting customers up to N1 million in credit at the point of shopping without disrupting their purchase process. According to Faith Ojeiku, Head of Embedded Finance, Checkout is designed to enhance customer convenience while driving measurable value for merchants and ensuring long-term sustainability.
Credit Direct aims to facilitate N500 billion in sales over five years by supporting 200,000 MSMEs and reaching five million customers through this initiative.
Additional digital products launched include “Yield by Credit Direct,” a fund management platform offering up to 21% annual returns to democratize wealth-building, and the “Credit Direct Mobile App,” an integrated platform providing payments, credit, transfers, and wealth management tools. The company is targeting one million downloads of the app within a year, positioning it as a key tool for financial inclusion.
