Low-key Kenyan ride-hailing app, MARAMOJA has signed a partnership with Switchlink Africa to offer loan services to its customers. According to a statement from the company, the platform will provide access to its API. This will enable a service provider to link up with MARAMOJA’s +100K drivers and customers through an Open API.
So, Fintechs and insurtechs will now have an opportunity to connect to MARAMOJA’s ecosystem via a single API and Third-Party Service Providers, including petrol stations, garages, service centers, car wash, car spares, and car tracking.
How MARAMOJA customer loans work
A customer will be able to use the MARAMOJA app to acquire and repay loans from within the platform. This way, they will avoid the need for a third-party site.
A lender, on the other hand, will seamlessly offer customers a credit limit/discount. However, the customer won’t have to borrow the entire amount. They just can use what they need.
A credit limit will be determined by the customer’s financial strength, their activity on the platform, as well as their credit history. However, some lenders may extend this limit depending on their credit policies or if one can demonstrate another means of being able to repay what one borrows.
Additionally, service providers will utilize the same mechanisms to give discounts and buy now pay later programs (BNPL) to customers.
MARAMOJA clients will enjoy embedded credit, finance, and lending facilities, which will enable them to access loans, financial offerings, and credit as an in-app experience increasing digital financial inclusion in the process.
Currently, MARAMOJA has partnerships with fintech companies including Imalipay, Power, Pezesha; and Insurtech companies including Afya Poa and Motisure.
Through this API all these partners will be able to tap into the MARAMOJA ecosystem seamlessly.
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