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Carbon doubles revenue, continues to disrupt credit banking in Nigeria with ‘Carbon Zero’




  • Debit card ‘Pink passport’ upgraded to include more services

Carbon, a credit-led pan African digital bank has doubled its client base and revenue since 2018 primarily due to their disruptive ‘Carbon Zero’ product. The company’s published 2022 financial report shows a remarkable revenue climb from ₦3.7Bn in December 2018 to ₦7.7bn in December 2021. The product also contributed heavily in the tremendous growth of the company’s customer base to over 3 million active users.

Since its inception as ‘One credit’ in 2012, through its evolution as ‘One-fi’, ‘Paylater’ and finally ‘Carbon’ in 2018, the bank has firmly placed their customers’ needs at the center of their innovative products and services.

“I got my loan approved in less than 5 minutes. I was able to make bank transfers and online payments swiftly. Thanks for this app.” said an excited customer Odunjo Olakunle

The product has been designed to perform better than a loan; with Carbon Zero, customers can make purchases online and offline and spread the cost of any bill and pay in 4 installments at 0% interest. In addition, by signing up on the web or using the Carbon app, customers receive a N30,000 spending limit.

Carbon takes pride in the fact that it has made finance more accessible to Nigerians, offering not only affordable loans but also a deposit account, a high-yield savings account, free bill payments, free transfers and debit cards.

Attesting to the uniqueness of Carbon, Olowolafe Sunday Oladele stated “They got me covered during the ‘rainy days’. Moreso, if you’re tired of all these traditional banks and their hectic stuffs, just get carbon. From loans to paying bills, and most importantly, the savings and investment programs there is just too much”

The bank also expanded the services provided by its debit card, enabling it to do more than just make payments. Dubbed the ‘Pink Passport,’ the Carbon debit card now allows users to buy and split payments in 4 at 0% interest in both online and offline transactions.

In January 2022, the company announced a new Carbon Zero partnership with global retail chain outlet SPAR. The partnership is poised to help even more Nigerians buy anything at any Spar store and pay for items in a wide range of categories in instalment at 0% interest.




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