Orbit Flexible Pay
Product Overview
Orbit Flexible Pay is a tailored consumer financing solution that allows customers to purchase goods and services immediately, and pay for them in manageable installments over time. The product aims to increase affordability for customers while driving higher sales for partner merchants.
Target Market
Target Market
Retail customers: Salaried employees, young professionals, and middle-income earners.
Merchants
Electronics shops, supermarkets, fashion retailers, online stores, and service providers (e.g., schools, hospitals).
Key Features
Instant Approval
Digital onboarding and quick eligibility assessment via website
Flexible Repayment Options
Upto 180 days repayment cycles.
Credit Limits
From KES KES 50,000 to KES 500,000 depending on credit score and income profile.
Zero or Low Interest
Interest-free option for repayments within 30 days; extended plans attract a service fee of 3% – 5% per month.
Partnership Merchant Discounts
Exclusive deals and promotions with partnered merchants.
Mobile Integration
Accessible via website and merchant payment portals.
Eligibility Criteria
Must be 18 years and above.
Valid Kenyan ID (National ID/Passport).
Active mobile number (M-PESA/Airtel Money registered).
Demonstrated income source (employment, business, or digital wallet statements).
How It Works
1
Customer selects Orbit Flexible Pay at checkout (in-store or online).
2
Orbit Capital instantly checks creditworthiness and approves the transaction.
3
Orbit Capital pays the merchant upfront.
4
Customer repays Orbit Capital in installments via M-PESA, Airtel Money, or bank transfer.
5
Automatic reminders sent via sms/email.
Customer Service Fee/Interest
3% – 5% per month depending on repayment duration.
Application fees
5% only on approved transactions.
Late Payment Penalties
Fixed 1% daily penalty on missed payment.
Benefits
For Customers
- Access to essential high quality goods and services immediately.
- Manageable repayment plans.
- Builds credit profile with Orbit Capital.
For Merchants
- Boosts sales by increasing affordability.
- Guaranteed upfront payment by Orbit Capital.
- Customer loyalty through financing support.