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Carbon, formerly Paylater, is a pioneer financial service that came up with the smart solution of allowing users to obtain instant short term loans without collateral and also invest their money to get huge interest returns. The service was formerly known as Paylater but it rebranded to Carbon in 2019, reflecting its transition from just a money lending company to a full-fledged digital bank. This was followed by a seed fund of $5m from an international lending company, Lendable and the acquisition of payments company Amplify. The service now specialises in not only loans but also provides users with a wide range of services including bill payments, airtime purchases, free credit reports, and a wallet. Due to its expansion of services, the company’s rebrand to Carbon fits the bill.

Read more about other Apps of the Week

Meet The App

To get started on Carbon, all you have to do is download it from the Google Play store and proceed to register by providing details such as BVN, address, debit card details, etc. While registering, you will be required to provide your BVN and a selfie. This is to verify that your identity matches the one on their system and prevent fraudsters from stealing your identity.

You will then be given a client ID number which will serve as your account number and reflect on your app dashboard. This number will always serve as a form of recognition for any financial service you want to carry out on the app. Customers usually get loans within a few minutes of applying.

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Getting The App

Carbon is available on the Google Play store at a downloadable size of 18MB and requires android versions from 4.1 and above. It has been downloaded multiple times and has decent reviews. Click the link below to download it.


Featured Image Source: Techish Kenya

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This article was first published on 25th January 2020


My name is Samuel Okoruwa. I am an ardent researcher, reading is life and writing is fun.

Comments (1)

One thought on “App Of The Week: Carbon (Paylater)”

  • I quite like reading through an article that will make people think. Also, thank you for allowing for me to comment!

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