Is Paylater a Scam? Please Read this Story About My Experience With Paylater

You are here because you want to know if Paylater is genuine or one of those loan scams. Well, I will be discussing my experience with Paylater quick loan. After reading this, you will conclude if Paylater is indeed a scam or genuine.

What is Paylater®?

Paylater is an online lending and digital finances management platform where you can: apply and get instant or quick loans to meet your urgent or unexpected financial needs; pay bills; transfer funds, purchase airtime; and invest. Paylater is very easy to use and fast when it comes to quick loan application without collateral.

How I knew about Paylater

In April 2018, I was desperately in need of money to buy a monitor for office use and what I had wasn’t enough to get the money. As I was in a bus thinking about how I could get the amount of money I need, something prompted me to search “how to borrow or get a loan online,” and that was how I knew about Paylater.

The first thing I did was to find and read more information about this quick loan provider. I didn’t forget to read reviews about them on several websites, blogs and Google Playstore. Though I was still skeptical, I really need to try. Of course, I have nothing to lose—only a few megabytes for surfing the net and downloading and surfing their mobile app.

How I Registered and Applied. Was I Paid Eventually?

Hmmm! Firstly, I would like to point out that you can only register and apply for a quick loan via the Paylater App. So I downloaded their app on Google Playstore. After, I registered with my real name and other personal information such as Date of Birth (DoB), home address and mobile phone number. Don’t be surprised: You will be asked to submit your BVN (Bank Verification Number). According to them, your BVN is requested in order to verify the true identity of a Paylater loan applicant and this is a precautionary measure they put in place to prevent authorized use of a user’s details. You can read more about this here. After providing all the information asked, I was able to apply. I was told to input the amount I was interested in borrowing and I did just that—I inputted ₦30,000. After doing this, I was told to wait while my loan offer is calculated. Well, I was a bit disappointed. They only offered ₦15,000 that must be repaid within 30 days.

READ  6 Effective Ways To Reduce Debt

The Good News! After accepting and submitting my picture, I received a credit alert of ₦15,000 within 20 minutes. Wow! I couldn’t believe it. So fast and even it was on a Saturday.

What Happened After I Paid Back the Loan With the Interest?

Well, I paid back on the last date, and after paying back using my GTBank MasterCard linked with Paylater account via the App, I was allowed to apply for another loan and I received a ₦49,000 loan offer. Isn’t that cool?

You know what? After paying back third loan (₦56,000), I borrowed at the appropriate time, I am allowed to borrow as high as ₦124,500 and to be paid back within 6 months. With my story, what can you deduce?

paylater loan screenshot

Do you still think Paylater is a Scam?

Well, I can authoritatively tell you that Paylater is real, genuine and trustworthy. They delivered as promised and that is why they will be my only source to get a quick loan whenever I need one without going to the bank or doing any paperwork.

Hey, Note: I can guarantee that your loan request will be approved just like mine. However, if your loan request is rejected, they have their reasons and I think the best thing you should do is send them an email or chat with them.

If you have any other questions about Paylater loan, drop them as comments or message their agents online.

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.