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

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 Orbit Flexible Pay

Flexible Repayment Options: up to 180 days repayment cycles.

Credit Limits: From 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 Orbit Capital 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.

Fees & Penalties

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 payments.

Benefits

For Customers:

1. Access to essential high-quality goods and services immediately.

2. Manageable repayment plans.

3. Builds credit profile with Orbit Capital.

For Merchants:

1. Boosts sales by increasing affordability.

2. Guaranteed upfront payment by Orbit Capital.

3. Customer loyalty through financing support.

Sample Use Cases

Electronics: Customer buys a laptop worth KES 50,000 and pays in 3 installments of KES 20,000 and agreed value charges.

Healthcare: Family uses Orbit Flexible Pay for hospital bills, spreading KES 100,000 cost over 60 days.

School Fees: Parents get their fee settled and then pay Orbit Capital in installments for 3 months.