Omnibiz Africa introduces ‘Buy Now Pay Later’ payment model; launches bookkeeping app

At an event recently held at Raddison Blu Anchorage Hotel, Victoria Island, Lagos, Nigerian B2B e-commerce company, Omnibiz Africa, launched its new products: Buy Now Pay Later (BNPL) payment model and a bookkeeping app called MyStore.

This comes after the $3,000,000 funding round closed by Omnibiz Africa, leading to the expansion of its operations.

While the Buy Now Pay Later model will help retailers scale their businesses faster by providing them with credit options to grow their businesses, MyStore is a book-keeping application for retailers to track their sales, cost, price, profit and manage customers.

Speaking at the launch, Deepankar Rustagi, CEO of Omnibiz Africa said the introduction of MyStore App will help retailers replace the traditional paper-based book-keeping with the automated book-keeping app where they can now record sales and measure profit.

“They will also be able to manage their stock inventory effectively and monitor their customers with the app. There is also the advantage of being able to manage their stores online with the app when they are not physically present at their locations,” he said.

Speaking further, Rustagi said the credit feature, Buy Now Pay Later, will help retailers scale their businesses as they now have access to purchase more goods and pay back after selling the products. He also reiterated the company’s commitment to improving the lives of the key stakeholders in their business.

Launched in 2019 by Deepankar Rustagi, Omnibiz Africa has provided over 50,000 retailers with the convenience to buy from over 500 products, ensuring retailers get a better rate of interest and distributors/manufacturers grow volume and reach through a wider distribution network.

The company currently delivers to six states across Nigeria including Lagos, Abuja, Port Harcourt, Kaduna, Ibadan and Kano, and is set to grow beyond the borders of Nigeria.