What is PayLater?
PayLater is a bidorbuy and VentureCapitalworks initiative that facilitates personal loans through third party registered credit provider, GoLoans (Pty) Ltd.
bidorbuy shoppers are able to apply for credit in order to finance their online shopping on the bidorbuy platform through affordable monthly repayments to GoLoans.
GoLoans (Pty) Ltd NCRCP6369 is registered in accordance with the National Credit Act, No 34 of 2005.
How Does it Work?
When shopping on bidorbuy you can apply for credit during checkout or you can get pre-approved for credit. Look out for the PayLater payment option and apply for a personal loan with GoLoans
Option One - Get Credit As You Shop
Sam buys an item on bidorbuy
She applies for a personal loan with GoLoans via the PayLater platform
Sam qualifies for a personal loan after completing a short application form
GoLoans immediately pays the seller, who then ships the item off to Sam
Sam repays the personal loan via monthly debit orders to GoLoans
Option Two - Get Pre-Approved Credit
Tim applies to be pre-approved for credit with GoLoans
Tim gets pre-approved after completing a short application form
He buys items on bidorbuy and selects the PayLater payment option
Tim verifies a few details and gets approved for a personal loan with GoLoans
GoLoans immediately pays the seller, who then ships the items off to Tim
Tim repays the personal loan via monthly debit orders to GoLoans