Welcome the new age of Finance.
Manage your expenses with Ai
Besides keeping an eye on your expenses Akafay has an in-built AI assistant named Agaz (አጋዥ) to help plan out purchases and not overspend accordingly.
Embedded Finance
Akafay integrates with ecommerce platforms, payment gateways and shopping carts. This makes it easy for businesses to diversify and receive payment instantly.
Flexible re-payment for purchases
Allowing customers to pay over time in interest-free installments. This can increase conversion rates and average order values.
Data privacy and security with dlt
By connecting your web3 wallet, you can be the owner of your identity and data on Akafay. Ensuring SSI and enhancing security.
Market Outlook
As the latest data shows, Ethiopia, with a total population of 129,881,880 has 50% of its population employed and 50% using mobile money, with an assumed average credit amount per user of 3,800 Birr.
The total addressable market as per the figures from National Bank’s report.
The serviceable available market as per the figures from National Bank’s report.
The total cost Akafay will have to spend in order to acquire a single customer.
Valued Stakeholders
With Akafay, there are 3 major stakeholders in play. While Akafay makes it easy and cheap to purchase products or acquire services for customers, it generates leads, improves average order for the merchant while creating appealing returns both in cash and customers for the partnering banks.
Shoppers
Financial Inclusiveness & Access to Credit
Flexible repayment options
Earn points and redeem discounts
Merchants
Increase average cart size up to 30%
Drive repeat purchases and loyalty
Access new demographics
Improved Customer Experience
Reduced Risk of Non-Payment
Banks and Insurances
Customer Acquisition and Retention
Risk Mitigation through data
Revenue Generation
Diversification
Customer Engagement
Agaz AI
Agaz AI is customers' in app AI companion, which helps you in finding products based on your interest, showing you top products, recommend products or even as far as finding a specific gift and when to buy it.
Circle Protocol
Mixing behavioral, biometrics and transactional data, Circle protocol takes identity and product security to the next level, by verifying and approving users on a transaction level.
AKAFAY
Core
Akafay web3
Akafay will utilize smart contracts for managing BNPL transactions, tokenization for transparency, decentralized storage for data privacy, and strong encryption for security.
Akafay Halal
Offering Islamic and sharia complaint services through Akafay, which is built fundamentally on transparency and fairness
main Features
Credit Scoring AI Engine
Analyze customer data and provide improved creditworthiness prediction, credit score assignment and determining eligibility for use.
BNPL Marketplace
Introducing a spectrum of innovative features and services that empower individuals and businesses to embrace flexibility in their payment methods.
Insured Credit Lines
By partnering with local insurance organizations, we ensure that customer’s repayments are covered in the event of extreme circumstances.
Bank, wallet and card linked repayments
Enable customers to access instalment plans directly through their payment cards, enhancing convenience and reducing friction in the purchasing process.
customer value Propositions
Access to credit, even without a traditional credit history.
Flexible payment plans to fit your budget.
Streamlined application and approval process.
Personalized offers and rewards.
User-friendly interface with clear payment schedules.
Repayment
options
- Regular Users:
- Split and repay in 2 Months
- Split and repay in 3 Months
- Split and repay in 4 Months
- Akafay Plus Members:
- Pay in full after 2 weeks
- Split and repay in 6 Months
- Split and repay in 12 Months
Extras:
- Score rewards on timely repayment
- Late fees on delayed repayments
- Repayment extension functionality
- Penalty on payment defaults
Want to start using Akafay?
Our platform is offered in various outlets, depending on the user types:
For Customers:
Mobile Application
Web portal and Dashboard
For Merchants and Ecommerce Platforms
Mobile Application
Checkout plug-in
Web portal and Dashboard
API endpoints
For Banks and Partners:
API endpoints
Activity and metrics dashboard
Affordability redefined
FAQ
Is BNPL an installment loan?
Yes, BNPL is a type of installment loan that allows consumers to pay for their purchases over a fixed number of payments, usually incurring minimal facilitation or service fees.
Where can I use Akafay BNPL?
You can use BNPL at any participating retailer that has partnered with Akafay, either online or in-store.
What happens if I don’t pay BNPL?
If you don’t pay your BNPL installments on time, you may incur late fees, interest charges, or penalties, depending on the plan you choose. You may also damage your credit score.
Are banks offering BNPL?
Some banks are offering their own versions of BNPL, either through their own apps or by partnering with existing BNPL providers. For example: Appollo, DubeAle