How Carbon Loan Works | Requirements | USSD Code
Carbon, formally known as one credit is a digital mobile financial platform in Nigeria with a presence in five different countries. They are owned by one finance and investments limited (OneFi). Before the company adopted its new name, It provided loans to salary earners. Using the traditional manual method where paper documents are required to obtain a loan. $ads={1} As the company continued to grow in the lending space, It evolved into One Finance and Investment Limited (OneFi). When the bank verification number (BVN) was introduced by the federal government and made mandatory for all bank accounts owners in Nigeria, the company saw an opportunity to extend its services to non-salary earners. But still relied on its field agents for processing loans. In 2016, It was able to fully automate its lending services and became a fully digitised platform. This was when it changed its name to Paylater. Because of the introduction of the BVN, it could exten...