Sunday, August 9, 2020
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Paylater, now carbon, loan requirements and application


Paylater which is now carbon is a convenient online mobile app that allows users to get short-term loans. This is one of the leading lending platforms in Nigeria. It was created in 2016. The app gives the ability to receive loans online.

In order to keep improving the loan process, a new version of the app called Paylater v2 was created enabling users to be able to access loans of up to N500,000. A new version has a new design, there are loyalty badges levels and referral system. Maximum loan request amount is N100,000, and loan repayment period is 90 days. Paylater loan interest rate for a new version is 4-10%, the rates depend on your loyalty level.

It is possible to get loan from paylater(carbon) in few minutes. The following are list of its loans rates:

  • loan amount N10 000: loan rate 10%, repayment period 15 – 30 days
  • loan amount N50 000: loan rate 5%, repayment period 1 – 3 months
  • loan amount N100 000: loan rate 4%, repayment period 1 – 3 months

Paylater loan requirements

It is important to know that loans from 50,000 Naira require ID card. Paylater accepts such a documents:

  • Voters card
  • Drivers license
  • Tax ID
  • National Identity card (NIMC/NIN)
  • Staff ID card
  • International passport
  • Your picture (to be accompanied by a supporting document).
  • Employment letter

Things to do or have to access Paylater loan registration :

  • Android phone, you cannot use iOS or Windows to work with the platform.
  • Download the app, it is easy to do it from Google Play store
  • Install the app and after that you are required to enter some information: BVN, home address, occupation e.t.c.
  • Be ready to enter debit card details. The loans can be automatically deducted from the card on the end of the loan date
  • When the registration is done, you can click “Apply for the loan” and get your loan
  • When the loan is approved, a user receives money on the bank account, just wait 10-20 minutes

Ways of repaying the loans:

  • Automatic Repayment

You just need to have enough money at your card at the end of the loan term

  • Repay by Quickteller

Quickteller is a partner of Paylater. Go to and pay the loan.

  • Repay with a card that is not listed in your Paylater account

It can be any debit card. Find the bottom “pay now,” and select the bar “Pay with the card.”

Like any other loan apps, paymaster want their customers to pay your loans on time as it increases their credibility level and enable them to get bigger sum of loans on more favorable terms.

You can follow or contact paylater(carbon) via the following :

  1. Twitter: or @paylaterng
  2. Facebook:
  3. Email:

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Akinola Olusegun is a blogger and publisher of this blog, You can also check out his other blogs : (videos & news), (e-commerce), (news) among others. Follow him via any or all of his social media pages to get fresh posts update.

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