As the back-to-school mood sets in, most parents are preparing for the financial strain that comes with purchasing textbooks and uniforms and paying tuition fees for their children.

Absa Bank Kenya has introduced the innovative and user-friendly Buy Now, Pay Later (BNPL) credit card option, which provides parents with a quick and flexible alternative.

The Buy Now, Lipa Pole Pole card permits parents to spread the cost of their back-to-school purchases and school fee payments allowing them to pay back in a structured manner for up to 12 months.

Key Benefits

1. Flexible Repayment Plans: Absa Bank's BNPL credit offering allows parents to select a repayment plan that best suits their financial situation to reduce financial strains.

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2. For institutions that accept card payments, parents can also pay school fees using the BNPL option and spread the fees into convenient monthly instalments.

3. Convenient Application Process: The process of setting up and applying for BNPL card is seamless. A parent only has to visit their nearest Absa branch, where the customer service team will assess their monthly income to establish their creditworthiness. You will get a credit card to access the product, if you qualify.

4. Friendly interest rates: With an interest rate as low as 2.67 per cent each month, the Absa Buy Now Lipa Pole Pole is among the most unbeatable rates in the market.

5. Peace of Mind: By using Absa's BNPL credit offering, parents can conveniently give their children the best possible education without compromising their fiscal stability.

How the Absa BNPL solution works

• Visit your favourite bookstore to shop (including getting a service) or pay tuition fees

• You pick an item or pay your school fees and swipe your Credit Card

• You log into the Absa mobile banking app/internet banking platform to convert the transaction into a BNPL plan

• You pick the instalment plan that works best for you (3, 6, 9, or 12 months)

• Your bill is settled and you walk off with your purchases

• BNPL repayments are as per the instalment plan selected.