The KBZPay Quick Access Loan will help sellers and merchants improve their coins flows, as many face troubles in facilitating peer-to-peer cash transactions. The developing quantity of cash transfers calls for the dealers to have enough budget in their mobile wallets to keep away from coins drift problems.The mortgage will offer KPZPay traders with a credit injection of K300,000 with out the need to offer collateral, guarantors or application fees. Eligible debtors can increase their credit restriction up to K2.five million.
The mortgage amount disbursed could be determined primarily based on the quantity and extent of KBZPay transactions facilitated by the applicant in the past. The line of e-credit score furnished is three hundred and sixty five days with a monthly repayment schedule. The interest charge is 13 percent, applied only to the e-credit score quantity used.
“Many of our 270,000 KBZPay agents and traders throughout Myanmar run organizations which want short-term financing this is quickly available. With Quick Access Loan, we offer our companions a financial cushion for growth and operating capital management,'' U Soe Ko Ko, Head of Agent Banking, KBZPay, said.
KBZPay is a mobile wallet delivered in 2018. Users can manage money, pay for goods and services, store coins, remit and conduct daily financial tasks.
