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Review of Digital Credit Products in India, Kenya, Nigeria, Tanzania, and Uganda

EPAR Technical Report #351a

Suggested Citation: Evans School Policy Analysis and Research Group (EPAR) (2017). Digital Credit Products Results Coding. Seattle: University of Washington.

February 24th, 2017

Pierre Biscaye, Kirby Callaway, Melissa Greenaway, Daniel Lunchick-Seymour, Max McDonald,

C. Leigh Anderson, Marieka Klawitter, Travis Reynolds

Evans School Policy Analysis and Research Group (EPAR) (2017). Digital Credit Products Results Coding. Seattle: University of Washington.

Source Info Provider/Company Information

Country Website URL Describe Provider NameNigeria yes https://www.ayes tech blog http://disrupt-aAella CreditIndia yes https://www.bajajfinserv.in/finance/digital-product-fi Bajaj FinservIndia yes https://www.bitbond.com/resources/loans/loans-in-inBitbondIndia no http://www.theyes This webpahttps://yoursto Biz2CreditKenya yes https://branchno BranchIndia yes http://www.capyes scoring inf http://creditvi Capital FirstIndia yes https://www.cyes tech blog https://techcru Capital FloatIndia yes http://cashcaryes tech blog http://www.thehCashCareIndia yes https://play.g yes tech blog http://news.webCasheNigeria yes http://www.dino DiamondIndia yes http://earlysa yes tech blog https://www.cruSocial Worth TechnolKenya yes http://www.e no EquitelKenya yes http://www.e yes EquitelIndia yes https://www.fyes grey lit http://timesofi Fair CentIndia yes https://finom yes grey lit https://www.tecFinomenaIndia yes http://flexiloa yes grey lit http://www.deal4FlexiLoans TechnologiKenya yes https://ke.ge no Get BucksKenya yes http://www.k yes FSD Articlehttp://techcabaKopo KopoIndia yes https://www. no GyandhanIndia yes https://www.iyes tech blog https://yoursto i2ifundingIndia yes https://www.i-yes tech blog https://yourstori-lend.inIndia yes https://indial yes tech blog https://www.tecIndia LendsIndia yes https://www. no India Money MartIndia yes http://www.inyes This is whehttp://www.liveIndifiIndia yes http://instakasyes tech blog http://www.liv InstakashIndia yes https://www.iyes grey lit https://letsta InstaPaisaKenya yes https://ke.kc yes KCB Bank KenyaNigeria yes https://www.kino KiaKia Bits LtdIndia yes https://kissht yes grey lit https://yoursto KisshtKenya yes http://www.kopacash.com/ JumoIndia yes https://www.kno KrazyBeeIndia yes https://www.lazypay.in/faq.html PayUIndia yes https://www.lyes grey lit https://www.bloLendboxIndia yes https://www.lyes finance blohttp://www.crowLendDenClubIndia yes https://www.lyes tech blog http://techstoryLendingkart Technolog

From product/Bank/MNO website?

Non-bank/MNO source

Other website URL (if used for additional information)

Nigeria yes https://www.liyes grey lit http://connectnLidyaIndia yes https://www.lyes grey lit https://mediumLoanMeetMultiple yes https://www.lno L-PesaKenya yes http://www.mjino MjiajiriMultiple yes https://tala.coyes tech blog http://www.wiredMkopo Rahisi (Tala)Kenya yes https://www.mno MicromobileUganda yes https://www. yes tech blog http://www.dig MTNIndia yes https://www.mno Capital Infussion PrivaTanzania yes https://voda yes CGAP VodacomKenya yes http://www.styes CGAP http://www.cgapStima SaccoKenya no yes slideshow http://www.sli Raven Ltd.Kenya yes http://www.sayes CGAP https://www.cgaSafaricomIndia yes https://www.nyes tech blog https://www.accNeoGrowth Credit PvtTanzania yes http://64.202.yes CGAP TigoKenya yes http://www.sayes grey lit http://www.busiSafaricomNigeria yes https://www.pyes tech blog https://techpoi One FinanceKenya yes http://www.avyes finance blohttps://www.loaAVLC GroupKenya yes http://pesapa yes grey lit http://www.howwPaddy Micro Invest.Kenya yes http://pesaze yes FSD Africa PesaZetuIndia yes http://www.q yes finance blohttp://www.crowQberaIndia yes https://www.quyes tech blog http://www.gadgQuick CreditIndia yes http://www.quno AccelIndia yes https://www.rupaiyaexchange.com/p2p-loans-india/ Rupaiya ExchangeIndia yes https://www. yes grey lit http://economicRuppeelendKenya yes http://getsaid yes Profile Greenshoe CapitalIndia yes https://slicepayes grey lit http://www.forbSlicePayNigeria yes http://sterlin yes tech blog http://techcabaBitComKenya yes http://solvest yes tech blog http://disrupt- SolvestingTanzania yes http://africa yes CGAP AirtelTanzania yes http://africa yes grey lit https://www.bloAirtelIndia yes https://vote4cyes tech blog http://www.gadgVote for CashIndia yes http://www.woyes grey lit https://yoursto World of LendingIndia yes https://zestmoyes tech blog http://thetechpZestMoney

68Total Number of Products

Provider/Company Information

Product Name Type Model Partner MNOAella Credit Mobile Money Platfo Other 2015Bajaj Finserv Retail Retail noBitbond P2P P2P yesBiz2Credit Online Platform P2P 2007 yes Branch Loan Mobile Money Platfo Standard 2015 yes SafaricomCapital First Online Platform Standard yesCapital Float Online Platform Standard 2013 noCashCare Retail Retail 2015 noCashe Mobile Money Platfo Standard 2016 noDiamond Y'ello AccouMobile Money Platfo Standard Planned; MM pyes MTNEarlySalary Mobile Money Platfo Standard 2015 noEazzy Loan Mobile Money Platfo Standard 2015 yes AirtelEazzy Loan Plus Mobile Money Platfo Standard 2015 yes AirtelFair Cent P2P P2PFinomena Retail RetailFlexiloans Online Platform Standard/RetailGet Bucks Online Platform Standard yes SafaricomGrow Mobile Money Platfo Standard 2012 yes SafaricomGyandhan P2P P2P 2016i2ifunding P2P P2P 2015i-Lend P2P P2P 2012India Lends Online Platform Standard 2015 yesIndia Money Mart (I P2P P2P 2015Indifi P2P P2P 2015 yesInstakash Online Platform Standard 2015InstaPaisa Mobile Money Platfo P2P 2015 yesKCB M-Pesa Mobile Money Platfo Standard 2015 yes SafaricomKiaKia Online Platform Standard 2015Kissht Online Platform Retail 2015Kopa Cash Mobile Money Platfo Standard 2015 yes SafaricomKrazyBee Retail Retail 2016 noLazypay Online Platform RetailLendbox P2P P2P 2016 noLendDenClub P2P P2P 2016Lendingkart Online Platform Standard 2014

Year Established (Digital Credit Product)

Partner with MNO providers or banks?

Lidya Mobile Money Platfo Standard Planned; Launch seems set for late 2016, early 2017LoanMeet P2P P2P 2015 yesL-Pesa Online Platform Standard yes Airtel/Safaricom/VodacomMjiajiri Mobile Money Platfo Other 2016 yes SafaricomMkopo Rahisi (Tala) Mobile Money Platfo Standard 2016 yes TigoMobiloans Mobile Money Platfo Standard 2013 yes AirtelMoKash Mobile Money Platfo Standard 2016 yes MTNMoney in Minutes Online Platform Standard 2016M-Pawa Mobile Money Platfo Standard 2014 yes VodacomM-Pawa Sacco Mobile Money Platfo Standard 2015 yes SafaricomM-Pepea Mobile Money Platfo Other 2011 yes SafaricomM-Shwari Mobile Money Platfo Standard 2012 yes SafaricomNeoGrowth Online Platform Standard 2013 noNivushe Mobile Money Platfo Standard 2016 yes TigoOkoa Stima Hybrid Other 2015 yes SafaricomPaylater Mobile Money Platfo StandardPesa na Pesa Mobile Money Platfo Other 2015 yes SafaricomPesa Pata P2P P2P 2013 yes SafaricomPesaZetu P2P P2P 2015 yes SafaricomQbera Online Platform StandardQuick Credit P2P P2P 2016Quiklo Retail Retail 2016 noRupaiya Exchange P2P P2PRupeelend Online Platform Standard 2015Saida Mobile Money Platfo Standard 2015 yes Safaricom/AirtelSlicePay Retail Retail 2016 noSocial Lender Online Platform StandardSolvesting Online Platform P2P 2014Timiza Cash Mobile Money Platfo Standard 2014 yes AirtelTimiza Wakala Mobile Money Platfo Other 2015 yes AirtelVote For Cash Online Platform P2P 2015 noWorld of Lending P2P P2P 2010ZestMoney Retail Retail 2016 no

Provider/Company Information Product Details

Partner (Bank) Partner (Other)App

Bajaj Holdings and Investments LTD Public Company listed on N AppWorks independently of banks Bitcoin based on Bitcoin technologyInternetTata Capital, Citibank, Standard Charter, CapiInfotech Pvt. Ltd Gargantuan consulting serviceInternet

a16z, formatioUber, M-Pesa Privately fund 10000 clients AppWorks independently of banks Yes B2B platform Internet; In-p

App; InternetFabFurnish, ShopClues, S Cash care approves credit li Internet

AppDiamond Bank App; USSD

Yes Payday loan program, borroweAppEquity Bank M-Pesa, Oracle, Paladian 2.40% SIM/Thin SIM Equity Bank M-Pesa, Oracle, Paladian (security), Cisco (network i SIM/Thin SIM

Yes P2P platform, private lenderInternetApp; InternetApp; Internet

My Bucks M-Pesa/Geo Trust Mobile money and transfer sApp; InternetM-Pesa, Javelin, Khosla impact, Accion Venture, Bam AppYes P2P platform, private lenderInternetYes Individual borrowers and le Internet

Angaros Group Yes P2P platform, private lenderInternet6 banks 6 non-bank financial companies App; Internet

Yes Individual borrowers and in InternetYes ndifi offers unsecured loan Internet

InternetBanks operate as lenders Yes Delhi based 6245 borroweAppKCB Bank Kenya M-Pesa > 7 m clients SIM/Thin SIM

InternetYes mentions financing partnersApp; Internet

AFB Financial, Kenya M-Pesa USSDonline vendors allocates EMI for products bInternetyes merchants, other financiers InternetP2P P2P platform one of 30 in I InternetP2P P2P platform one of 30 in I Internet

Aadri Infin Li Flipkart, Snapdeal, TradeIndia, Crasftvilla, Voonik, P Internet

Partner (Non-bank financial instiution)

Describe if Other

Market Share Estimate (of country)

Technology channel (choices: app, internet, SMS/USSD/Sim Toolkit)

Look out for EazzyPay sign; at shops, supermarkets, airlines, petrol stations, hotels as well as online.

Planned; Launch seems set for late 2016, early 2017 AppYes private lenders, banks, NBF Internet

Airtel/Safaricom/Vodacom Airtel/Safaricom/Vodacom/Tigo App; SIM M-Pesa SMS

InVenture App M-Pesa, others App

CBA SMSYes Partners offer discounts w Internet

CBA M-Pesa requires Vodacom and M-PeSMSCBA M-Advance/M-Pesa App; USSD

SMSCBA M-pesa 4.5 m users SIM; USSD

IIFL Asset Management, Quona Capital, Omidya Network, Aspada InvInternetSMS

Kenya Power Utility Company SIM; USSDApp

M-pesa, AVLC Capital Ltd SIM/Thin SIM M-pesa, Paddy Micro InveP2P platform, private lenderApp; USSDM-Pesa InternetYes LendFoundry InternetYes P2P platform, private lenderInternetonline vendors allocates EMI for products bApp; Internet

Internet4 partners (economic times) Internet

Safaricom/Airtel M-Pesa, Greenshoe Capital AppYes Retail online vendors App

Sterling Bank App; InternetInternet

JUMO SMSJUMO NOTE: this service is for mo SMS

App; InternetYes P2P platform, private lenderApp; Internet12 partners Has particular online vendo Internet

Product Details

APR minApp Google Play mobile app no 30 website says 4.00%App download appyes noInternet open an accono 42 1825 Says that bo 7.70%Internet 11.69%App Facebook Logyes yes 14 365Internet online platform, can also no 16.00%App; Internetused through website andno 30 365 varies based 18.00%Internet Either create an account yes 365 15.00%App used through mobile app usno 15 90 15, 30, and 90 day repayment optionsApp; SMS Offers both a mobile phonnoApp Login through Facebook 7 50SMS yes no 0 30SMS yes no 60 365Internet online platform yes 182.5 1080 loans funded 12.00%App; Internet no no 365 max 1 year 8.00%App; Internetdownload appno no 30 365 11.99%App; InternetAndroid app,no no 0 45App yes no percentage o 0.00%Internet online platform yesInternet Website login yes 0 730 No charge f 12.00%Internet online platform yes 182.5 1080 6 month inc 12.00%App; Internetused through android app no 365 2190 11.49%Internet IMM Marketplace online yes 90 730 12.00%Internet apply online no no Depends on t 16.00%Internet no yes 365 Can pay week 18.00%App yesSMS yes no 30 180 1.16%Internet Completely online producyes 7 30 Any length between 7 andApp; Internetapply online no no 90 365 another sch 5.00%SMS Online portal,no yes 7 365 If you choose to provide partial early repayment, notify the bank before doing so. If you fInternet online platform, also has no 90 365 3 month increments. Payments must be made via debitInternet apply online no 0 19 Statement Amount is billed either at the end of middle Internet used through online platf yes 182.5 1080 20.00%Internet used through online platf yes 90 540 3 month inc 12.50%Internet Online, website yes 30 365 Biweekly and monthly repayment options

Technology Channel

Technology channel - Describe

Mobile phone required? (y/n)

Computer only product Y/N

Repayment Period (days) minimum

Repayment Period (days) maximum

Repayment period - Decribe

from 1 to 6 monthsRepayment period personalized

https://www.techinasia.com/finomena-loan-startup-gets-matrix-funding

http://www.deal4loans.com/loans/loan/bajaj-finserv-flexi-loan-benefits-information/

App Unclear, website suggestsnoInternet apply online no 90 3650 12.00%App; SMS Open accountyes no 0 "Weekly Repayment", # of weeks increase with loan sizSMS used USSD inyes no 0.00%App Android app noApp uses mobile yes yes 30 60 fee for single payment or two monthly repayments. Payment deducted from salary (through employerSMS Used through MTN mobil no 30 30 30 day loans, with 30 day extension if not paidInternet Website login 61 90 0.10%SMS Used through M-Pesa inteno 0 30 30 day loans 0.00%App; SMS used throughyes no varies (set by SACCO). pay through mpesa account (limitSMS Works as an addition to Mno 30 M-Pepea subm 10.00%SMS used throughyes no 0 30Internet In-house technology plat yes 182.5 240 Depends on the type of loan (1 of 4 types), repayment is based on monthly incomeSMS used through Tigo Pesa (ano 7 21 7, 14, or 21 daysSMS used throughyes no 0 7App Google Play mobile app no 15 30 For first ti 346.00%SMS In person regyes no 0 7 website als 10.00%App; SMS agents (lendeyes no 30 30 4 weekly re 30.00%Internet yes yes 0 28 6.00%Internet 14.00%Internet online platform yes 1 30App; Internetonline platform, also has no 182.5 365 will allow 7.50%Internet apply online no 180 1080 business lo 15.00%Internet online platform yes 30 61-90 days p 0.10%App Google Play, yes yes 0 30 7.50%App used through mobile app 0.00%App; InternetSeems to be available botno 30 Website doesn't say what the minimum lending period isInternet Seems to only be availableyes Solvesting matches investors with SMEs, they don't set SMS Used through Airtel moneyno 7 28 Week options (7,14,21,28)SMS used through airtel moneyno 7 28 week options (7,14, 21, 28)App; Internetonline platform, also has yes 1 30 varies - bas 0.10%App; Internetonline platform, also has yes 182.5 1080 6 month increments. Also has 250 rs bounce charge. Internet used through website 365 1080 down paymen 2.50%

47 51

*SMS includes USSD and SIM toolkit Median 30 180

Mode 0 30Mean 62.68 427.61

every loan set to 30 days, repayments encouraged ASAP

Number of Products

http://www.crowdfundinsider.com/2016/07/88022-online-lender-creditexchange-raises-500000-seed-round-participation-kuber-financial/

Product Details

APR max Describe4.00% Per month Fixed at 4 48.00% 48.00%

16.00% Not specified Borrower doesn't pay a 16.00% Rs 749 Listed under "FeNot specified As low as 7 7.70% 1 1-3% Origination fees range based on loan length

25.00% Not specified Website lis 11.69% 25.00% 0 Website says that they do not charge a fee to borrowersno

24.00% Per annum 16.00% 24.00%24.00% Not specified varies base 18.00% 24.00% 1 yes25.00% Per annum 0% for sele 15.00% 25.00% 2, only after 3 yes

15, 30, and 90 day repayment options facilitation fee-based (times) yes

2.50% Per month 30.00% yes 300 per transacti14.00% Per annum 14.00% 2 at a time yes 1% of loan amoun14.00% Per annum 14.00% 1 at a time yes 2-3% of loan amo30.00% Not specified depends on 12.00% 30.00% up to loan limit12.00% per annum Mentions in 8.00% 12.00% Rs. 249 Initial processing fee

Per annum Found on de 11.99% Varies Fees vary depending on asset c77.00% Per annum Personalized rates 77.00% unspec yes 30% per loan

0.00% No interest 0.00% 0.00% no interest ch yes 1% of cash advaninterest rate set through lender bidding proces yes for loans from banks, percentage of loan charged (varies

30.00% Not specified 12.00% 30.00% 1 at a time yes Free to register account, but a Not specified agreed on b 12.00% 1 yes One-time registra

35.00% Per annum APR rates a 11.49% 35.00% yes24.00% Per annum Depends on 12.00% 24.00% Both borrowersyes Rs. 1000 and .5% of the total 24.00% Per annum varies base 16.00% 24.00% yes24.00% per annum 20% per ann 18.00% 24.00%

1.16% Per month 13.92% 13.92% yes 2.5% of loan amount as negotia240.00% Per annum Rates seem fixed at 0 240.00% 1 yes N600

15.00% Not specified depends on 5.00% 5.00% downpayment of If you choose to provide partial early repayment, notify the bank before doing so. If you f1 at a time yes 0.5% daily3 month increments. Payments must be made via debitvaries based on credit score up to credit limitStatement Amount is billed either at the end of middle website says no charges up to maximum allowed fee for participating merchants

24.00% Per annum rates agree 20.00% 24.00% yes30.00% Not specified 12.50% 30.00% yes 1500 Rs registrat

Biweekly and monthly repayment options yes 1% of sanctioned

Interest Rate Timeframe (daily/weekly/monthly/annual)

APR - Describe

Standardized APR Min

Standardized APR Max

Number of loans allowed

Facilitation or transaction fee?

It charges a fee from the lender which is received in parts throughout the life of the loan (livemint)

30.00% Per annum varies base 12.00% 30.00%"Weekly Repayment", # of weeks increase with loan siz individualized loan terms vary unspec

0.00% 0.00% 0.00% yes 200 ksh registration fee15.00% Per month 180.00% 1

fee for single payment or two monthly repayments. Payment deducted from salary (through employer yes30 day loans, with 30 day extension if not paid no interest, fee based (95 of loan amount) yes

1.00% Per day 36.50% 360.00% 1 at a time yes Rs 45 Processing fee0.00% no interest 0.00% 0.00% 1 yes

varies (set by SACCO). pay through mpesa account (limitvaries (interest deducted befor dispersement) (CGAP)15.00% Not specified M-Pepea cha 10.00% 15.00% 6 yes 75 kshs per trans

1 yes 7.5% of loan amDepends on the type of loan (1 of 4 types), repayment is based on monthly income

fee based product (no interest ra 1 yes1 (and up to 3yes 10% of loan amou

380.00% Not specified Interest ra 346.00% 380.00% 1 yes Initial one-time 10.00% Per week 520.00% 520.00% yes 10% of loan amo30.00% Not specified (howwemade 30.00% 30.00% yes 100 ksh to regist10.00% Not specified 6.00% 10.00% yes 6-10% of loan a24.00% Per annum Stated on 14.00% 24.00% 2-3% Stated on websit

interest varies daily. Service fe up to credit li yes 500 rs15.00% 7.5 per 6 months, 15 per an 15.00% 15.00% yes processing fee 36.00% Per annum APR, varie 15.00% 36.00% yes 500 rs processing

1.00% Per day 36.50% 365.00% 110.00% Not specified 7.50% 10.00% yes 7.5% and above, r20.00% Not specified 0.00% 20.00%

Website doesn't say what the minimum lending period isUnclear; this is set by the partner bank yes N100 for loans Solvesting matches investors with SMEs, they don't set Solvesting matches investors with SMEs, they dyes 3-4% management fee on the principle of loansWeek options (7,14,21,28) 1 yesweek options (7,14, 21, 28) 1 yes

0.30% Per day depends on 36.50% 109.50% multiple (up toyes 10 Rs membership6 month increments. Also has 250 rs bounce charge. yes 1500 rs listing fe

2.50% Per month per month 30.00% 30.00% 1 yes Processing, inter

37 41

Median 13% 24% Uganda (1)

Mode 12% 24% Tanzania (2)Mean 38% 71% Kenya (15)

Nigeria (4)

every loan set to 30 days, repayments encouraged ASAP

Number of Products

Country (Number of

products with information)

http://www.crowdfundinsider.com/2016/07/88022-online-lender-creditexchange-raises-500000-seed-round-participation-kuber-financial/

India (32)

Multiple (2)

Total (56)

Product Details

DescribeInstant 0.0032"Instant and o 10000 100000 0.015 $150.00 $1,500.00 loans are for tec

Origination fees range based on loan length 10000 0.015 $150.00Website says that they do not charge a fee to borrowers 0.015

minutes 250 50000 0.0098 $2.45 $490.00"instant" 0.015minutes 100000 10000000 0.015 $1,500.00 $150,000.002-5 minutes 10000 200000 0.015 $150.00 $3,000.00 Minimum 5% down payment r2 hours 5000 100000 0.015 $75.00 $1,500.00

0.003270 minutes (ti 1000 100000 0.015 $15.00 $1,500.00minutes 50 200000 0.0098 $0.49 $1,960.00minutes 1000 3000000 0.0098 $9.80 $29,400.0048-72 hours fo 30000 500000 0.015 $450.00 $7,500.00 1,000,000 for bus

Initial processing fee 0.015Fees vary depending on asset c 15000 10000000 0.015 $225.00 $150,000.00

24 hours 1000 20000 0.0098 $9.80 $196.00 individualizedclient enters mobile number 3000000 0.0098 $29,400.00 individualized

for loans from banks, percentage of loan charged (varies 0.015 up to amount needed for edFree to register account, but a 25000 300000 0.015 $375.00 $4,500.00 5,00,000 Rs. for repeat borrowers. Must be

varies (must 25000 500000 0.015 $375.00 $7,500.00 loan limit depend1 hour 25000 5000000 0.015 $375.00 $75,000.00

Rs. 1000 and .5% of the total 25000 300000 0.015 $375.00 $4,500.00 For lenders: min100000 50000000 0.015 $1,500.00 $750,000.00

48 hours 25,000,000 0.015 $375,000.001-2 hours if ph 30000 200000 0.015 $450.00 $3,000.00

2.5% of loan amount as negotia 50 1000000 0.0098 $0.49 $9,800.00Within minute 10000 60000 0.0032 $32.00 $192.00 Higher loan maxi24 hours 1000 100000 0.015 $15.00 $1,500.00< 24 hours 500 13000 0.0098 $4.90 $127.4024 hours 1499 30000 0.015 $22.49 $450.00 minimum credit li

fee for participating merchants 2500 0.015 $37.5025000 5000000 0.015 $375.00 $75,000.00

18 hours 25000 250000 0.015 $375.00 $3,750.004 hours 50000 10000000 0.015 $750.00 $150,000.00

Time for loan approval

Loan Minimum (Local Currency)

Loan Maximum (Local Currency)

Conversion Rate

Loan Minimum (USD)

Loan Maximum (USD)

It charges a fee from the lender which is received in parts throughout the life of the loan (livemint)

500 15000 0.0032 $1.60 $48.0024 hours 10000 2500000 0.015 $150.00 $37,500.00 Business loans upminutes 1 3000 1 $1.00 $3,000.00

200 ksh registration fee 0.0098minutes 80000 0.00046 $36.80

100000 0.0098 $980.003000 1000000 0.00028 $0.84 $280.00

Rs 45 Processing fee 5000 100000 0.015 $75.00 $1,500.00minutes 1000 500000 0.00046 $0.46 $230.00minutes 100 20000 0.0098 $0.98 $196.00 data from CGAPInstant 5000 15000 0.0098 $49.00 $147.00 Limited to 30000minutes 100 20000 0.0098 $0.98 $196.00 (CGAP)3 to 5 days 200000 10000000 0.015 $3,000.00 $150,000.00 Depends on type minutes 20000 0.00046 $9.20minutes 100 1000 0.0098 $0.98 $9.80 (CGAP)Up to 24 hours 10000 0.0032 $32.00 For first time usminutes 500 10000 0.0098 $4.90 $98.00 terms and conditminutes 2000 20000 0.0098 $19.60 $196.00minutes 0.0098 Once loan terms 10 minutes 50000 500000 0.015 $750.00 $7,500.00minutes (after 20000 50000 0.015 $300.00 $750.00 credit limit depeup to 2 days 10000 30000 0.015 $150.00 $450.00 higher loans availminutes 5000 500000 0.015 $75.00 $7,500.00 Business loans 5within 30 min 10000 1000000 0.015 $150.00 $15,000.001 hour 25000 0.0098 $245.00up to 1 hour (your story) 0.015 May include initial down paUnclear 1000 10000 0.0032 $3.20 $32.00 A maximum of N3,0

3-4% management fee on the principle of loans 0.0098minutes 0.00046minutes 0.00046within 24 hour 1 60000 0.015 $0.02 $900.00 Membership levelvaries (depen 30000 500000 0.015 $450.00 $7,500.00 max of 2,500,000 rs for business loans6-8 hours 75000 15000000 0.015 $1,125.00 $225,000.00

Avg Min (USD) Avg Max (USD)

0.00028 3,000 1,000,000 $0.84 $280.00

0.00046 1,000 260,000 $0.46 $119.600.0098 888 499,600 $8.70 $4,896.080.0032 3,833 23,750 $12.27 $76.00

Conversion Rate (Google 1/31/2017)

Avg Min (Local)

Avg Max (Local)

0.015 31,672 4,622,891 $475.09 $69,343.36

1 41,500 $1.00 $1,518.40

$296.19 $41,005.16

1 for L-Pesa and 0.00046 for Mkopo

Product Details

Instant no yes Bank Verificiation Number (BVN) - Nigerian program to use biometrics to confirm banking customers' identityno funds distributed, rat Yes Payment Account Number Card, Deal ID #"within just a few days" yes Secure online password Late fees are invoiced to borrower

minutes no no 90 default daysyes yes

3 days no yes passport/govt id, voter card, address, business location/legalityMinimum 5% down payment rno yes confirm email ayes May engage in collection efforts to recover amounts, which may inv

minutes (wno yes PAN card, addreyes Repayment reminders through app. 7 day extension

minutes yes yes PIN Should the loan not be paid on theminutes yes yes PIN Should the loan not be paid on the24-48 hourno yes

yes Govt. ID2 days24 hours yes NID, bank stat yes Collections company, credit bureunspec

up to amount needed for edno yes PAN card and bank account late fees5,00,000 Rs. for repeat borrowers. Must beyes email and mobilyes "Any delay or default will attract

7-10 days yes Registration includes providinprovider will purminimum 100 rs 2 days no yes govt-issued ID, bank accountDetermined yes yes Formal signing yes Borrower subject to a fine and add72 hours no yes bank account, govt id72 hours

Physical verification, only if required by bank lenderminutes no yes PIN or with Safaricom Auto-debit from account, reports 1 hour no yes Work identity card picture; B Repayment defaulUnclear

no yes Aadhaar, govt iyes fee for skipping 2.5% of principl<30 minutes If you miss or underpay any paymeninstant up no yes PAN card, addreyes SMS/email remind1% of EMI per da

no yes id, address, emno reminder 3 days 18% of statementno yes identity card, passport, voter If EMI not paid 250 rs bounce ch

24 hours tono yes PAN card and bank account, adwith default, feeminimum 500 Rs3 days Exclusive to e-commerce No pre-closure charges

Time till distribution of funds

Interoperability: is product exclusive for MNO/bank?

Uses identity confirmation?

How to confirm identity (e.g. thumbprint, passport info)?

Deliquency warnings?

Describe delinquency procedure

Delinquency Fee Amount

Up to 72 hours72 hours no yes govt id, bank statements, address proof, PAN 2% penal interes

no yes National ID Credit score to 0, terminate yes Mpesa account, or register

minutes yesminutes no yes Employer, Govt ID/passport

yes If loan not paid 9% feeyes If you choose to 750 rupees

minutes yes yes any of the follono Amount equal to oAdditional 9% feminutes yes yes PIN/Mpesa accountInstant yes yes Customers mustnominutes yes yes PIN/Mpesa accoyes loan repayment e7.5% of outstand3 days Exclusive to e Yes passport, PAN card, voter's ID, rent agreement, Adhaar card, VAT certificate of businessminutes yes yes SMS sent before payment due. longinstant yes yes National ID # turn off power 10% of the loan aUp to 72 h no yes BVN Account suspended; credit bureauinstantly no yes National ID # yes Default warnings 10% extension finstantly yes yes mpesa user (6 myes reminder on due5% interest fee pgoal of 2-3 no yes Transunion veriyes Calls and reminders, report to bur24 hoursminutes no yes PAN card, address/govt id, la provider leverages social contactsup to 2 dayno yes Govt ID, Addresyes auto debit on repayment dates fup to 60 days (listed on yes identify proof, address proof may pursue throu48% APR penal int24 hours no yes PAN card, employment proof, bank account, m1% interest per instantly yes yes PIN report to credit bureau, hand over

May include initial down pa yes yesUnclear yes yes Via "Social Audit" and checki

noyes yes identity or pas no SMS messages rep10% of unpaid ayes yes identity or pas no SMS messages rep5% of unpaid loa

within 24 hno yes PAN card, addreyes SMS repayment re500 Rs per day plmax of 2,500,000 rs for business loans yes Govt ID, Bank statements, incWorld of lending 500 rs collection

6-8 hours no yes PAN card/Aadhayes auto-debit on duunclear

"In a situation where a user is not be able to repay the cash request by the end of a 30 day period, user must roll over the cash request, this will be recognized as a new cash request. However, the user must pay the service charge by the end of the 30 day period regardless of repayment of the principal."

Product Details

Describe DescribeBank Verificiation Number (BVN) - Nigerian program to use biometrics to confirm banking customers' identity yes Checks BVN, musyes

lender Yes Bitbond "verifies" all borrower

provider none oustanding amount/interest becomes immediately payableproviderprovider 0.50% yes business verification. No collat

May engage in collection efforts to recover amounts, which may invMay take legal action and affect credit score yesRepayment reminders through app. 7 day extension 2-2.5% (webindia)

provider yesprovider yeslender yes physical verification

yes Aadhaar card number or passport and voter ID card, 12 months' bank statemenYes Audited Financial Statements and Tax Receipts

provider yes Paystub, Mpesayes

lender collateral/cosigner not requirlender In case of delay of repayment, addiyes May perform physical verification along with matching the uploaded documentslender All EMIs will be yes physical verificationbank partner n/a partners carry loayes depends on partner (sometimes unsecured)lender yes IMM platform colyeslender yesprovider

provider yesprovider yes Work Idenity Caryesprovider 0.50% requires bank ayesprovider Unspecified fee yesprovider yes physical verific yesprovider; financial partner yeslender yes bank account verificationlender 0.3% (livemint) prepayment fees waived after 3

No pre-closure charges

Who carries risk of default (provider, central bank, other)?

Non-performing or default loan interest rate rate

Security Checks present (payroll statement verification, balance req in mobile money account)?

Reports to credit bureaus (Y/N)?

lenderprovider yes

provider noprovider no yesbank no yes

yes We do a credit yesbank yes Verifies identityyesprovider no

yes Customers must sign contract provider yes must be M-pesa user for at le

passport, PAN card, voter's ID, rent agreement, Adhaar card, VAT certificate of business yes 6 months bank statement, sales of more than 2 lacs per month from online channprovider no no collateral requiredproviderprovider yes Short online fo yesprovider yes in person registyesprovider yes physical meetinyeslender yes

lender yes check of bank statementsprovider yes background calls/verificationlender yesprovider yes may make calls to employersprovider yes

yesPartner bank; also, some of the burden is shared byyes Must be Sterling Bank customer to enroll; "Social Reputation Scores" are evaluatedlenderbank partner yesbank partner no yesprovider 1% (gadget) no collateral reqlender yes verification of 6 months activitprovider May submit default information to cneed verifiable yes

Product Segments

Targets men? yes Online auto repa 1

0no no no 0

0 yesno 0

yes MSME loans, two- 1yes no four different ty 1 yesyes Payment for good 1 yes

0 yes00 yes

yes Airtime mins, call 1yes Airtime mins, call 1yes two-wheeler loans 1

Aadhaar card number or passport and voter ID card, 12 months' bank statemen 0 yesAudited Financial Statements and Tax Receipts 0

yes money transfer, s 1 yes payments for goo 1no yes scholarship platf 1 yes

May perform physical verification along with matching the uploaded documents 00

depends on partner (sometimes unsecured) yes credit cards, hom 10

no no 0yes no car loans, line of 1

0 yesyes Savings: Fixed & 1

0no no 0 yesyes Pay Kopa Cash lo 1no no 0 yesno no 0 yes

0yes Fixed deposit and 1 yes

0

Product combined with other DFS digital services?

Product combined with other DFS services, non-digital?

Which other services? Describe (e.g. Savings)

Count of Products with either DFS/non-digital

Targets urban population?

Targets rural population?

0yes no business loans, v 1yes money transfer 1 yes mobile money (co 1no no 0yes bill pay, transfe 1yes Combined w/ DFS 1

0yes M-Pawa also comb 1yes Savings, Bill Pay, 1yes Loans are disbur 1yes Savings 1

6 months bank statement, sales of more than 2 lacs per month from online chann 0yes combined with tra 1

electricity paymen 0yes Repayment powere 1

0 yes0

no no 0 0

no no 0no no 0 yesyes no business loans 1no no 0no yes Phone insurance 1

0Must be Sterling Bank customer to enroll; "Social Reputation Scores" are evaluated 0

0yes Money deposited 1yes Money deposited 1no no 0yes yes business loans, c 1 yesno no 0

Credit Scoring

Targets ag?yes Targeted ayes Planned decreasyesnot specified yes “BFL Reward Poiyesnot specified yes yes

yes not specified yes yesnot specified yes 75% use loayes larger loans, moyesnot specifiednot specified yes business o no yesnot specified Young people with salary jobs yesnot specified yes targets 20-yes faster repaymentyesnot specifiednot specified young people 22-30 who are in their fiyesnot specified yes partners with Equitel allonot specifiedyes yes yesyes yesnot specified yes yes

not specified yes yes loan increasenot specified yes yes improved loan termsyes students gononot specified yesnot specified individuals with bank account yesnot specified yes targets entyes some gift card oyesnot specifiednot specified yes business to business loans yesnot specified yes ecommerce sellers yesnot specified targets mid-sized NBFCS, mostly in Deyesnot specified yes Loyalty Points, yesnot specified yes "Trust Points" yesnot specified targets stu yes low or no rates yesnot specified Must be emyes Build up a higheyesyes college stuyes on time paymentsyesnot specified those with bank accounts yesnot specified yesnot specified salaried indyes credit worthineyesnot specified yes At present, it is focusing on e-comme yes

Targets women?

Targets low-income users?

Targets small business owners?

Describe marketing/customer segments

Rewards for increased use of digital credit?

Describe rewards

Uses own scoring algorithm?

not specified yes yesnot specified yes

yes yes yes loan increase, l yesyes yes yes increased loan limits for recruiting new members (40 ksh commission for registration, 50 kes per invite)not specified yesnot specified employed yesnot specified yes yesnot specified Must be fulyes Reduce monthly yesnot specified yes increased chance of loan approval, increased loan limits not specified yesyesyes unbanked, yes loan limit incre yesnot specified yes Loans for online sellers and business yesyes yes larger loan limits, lower fenot specified Utility clients yesnot specified yes Users earn "badyesnot specified yes office workyes loan increase f yesyes yes Kiosk, P2P yes commission earned for lending to clients.

yes yes P2P yes loan increase yesnot specifiednot specified salaried indyes faster repaymentyesnot specified students (currently only in Bangalore)yesnot specified yes personal and business loans yesnot specified employed iyes lower interest yes

not specified yes yes loan increase yesnot specified students yesnot specified "Online maryes Greater maximumyesyes yes Product aimed at providing business yesnot specified yes larger loan size yesnot specified yes only availa yes larger loan size yesyes yes If customer is a yesnot specified yes individuals with salaries/bank accountyesnot specified those with an income source who needno

Total 53

Credit Scoring

Ageyesyes

yes relevant in c yes 1

no yes 1 1yes Credit Vidya yes

yesyes CIBIL yes 1

yes 1 1 1 1

yes 1yes Experian yes 1 1 1 1yes yes 1 1 1 1yes yes 1yes CIBIL (Credit yes 1 1

yes

1

CIBIL yesyes NY based, als yes 1 1

yes 1 1 1 11 1

yes 1yes

CIBILyes 1 1 1 1yesyes 1 1

no yes 1 1 1yes 1 1yes 1yes 1 1 1 1yes 1 1

yes yes

Third party scoring?

Name of credit scoring company (third party)

Uses alternative credit data? (aka not using financial history)

Utility payment history

Mobile airtime/top-ups

MM transaction or balance data

Remittance information

Previous digital credit loans

yes 1 1 1

increased loan limits for recruiting new members (40 ksh commission for registration, 50 kes per invite)yes Inventure yes 1 1

yes 1 1 1yes 1 1 1 1

CIBIL, Experian, etc. 1increased chance of loan approval, increased loan limits yes 1 1 1

yes 1 1 1 1

yes 1 1 1 1yes 1

yes JUMO yes 1 1 1 1yes CRB yes 1 1 1

yes 1yes CRB yes 1 1 1 1

commission earned for lending to clients. yes 1yes Trans yes 1 1

yes 1 1yes 1 1yes 1yes 1 1yes 1 1 1

yes

yes 1 1 1 1yes 1 1 1 1yes 1 1yes 1 1 1

yes no

Total 5 19 20 0 39 28

Credit Scoring

Call logs SMS logs GPS data1

11 1

1 1 1 1 1 1 1

1 11 1 1 1 1

1 1 1 1

1 1 11 1 1 1 1 11 1 1 1 1 1

111

1 11 1 1 1 1 11 1

11 1 1 1 1 1 1 1

1 11 1 1 1 11 1 1 1 1

1 11 1 1 1 1 1

1 1 11

1 1 1 1 11

1 1

Social media data

Contact lists

Handset Details

Online Transactions

Traditional financial history

Travel history

Occupation details

1 1 1 11 1 1 1

1 1 1 11 1 1

11 1 1

1 1 11 1 1 1 1

11 1 1 1 1

1 1 1

1 11 1 1 1 1

1 1 1 1

1 1 1 11

1 1 11

1 1 1

1

1 1 11 1 1

1 11 1 1

24 26 20 21 12 12 5 21 1 20

Credit Scoring Consolidated Data Types

Notes1 0 0 1 0 0 1 This product is only available to employees of companies who sign up for the service. The employees are able to receive a credit decision instantly through their algorithm, and the payments on the loan are taken directly from their pay checks. So far, the default rate is very low, pointing to fairly low risk

0 0 0 1 0 0 Bajajfinserv offers personal, home, business, and doctors loans. Their personal loan characteristics fit our definition of digital credit: online approval in five mins and cash disbursement within 72 hours1 0 0 1 1 1 0 Bitbond is a German P2P company that uses Bitcoin technology. All contracts are subject to German law

0 0 0 0 0 0 Biz2Credit offers personal and business loans through its online platform. It uses its Biz Analyzer technology to create a score for businesses applying for loans1 0 1 1 1 1 0

0 0 0 0 0 00 0 1 1 0 0 uses formal financial data as well0 0 1 1 0 1 Looks at name, mobile number, PAN number, date of birth, and uses this to access shopping and travel hisotry. Acts as online lending system for online purchases. Doesn't require bank account (FAQ), does require proof of employment and salary1 1 1 1 1 0 score determined is "Social Loan Quotient" (SLQ)0 0 0 0 0 0 This is a planned segment of a currently operating MM platform, details are so far hazy0 0 1 1 0 0 Combines traditional credit scoring with new social and online scoring technology-linked risk assessment concepts. Users of the application are able to login though their Facebook accounts, communicate the amount they need as a loan and a date they could settle it, submit basic documents, and get the money credited to their bank accounts. (crunchbase)1 1 1 0 1 0 It is a mobile-based banking service provided by Equity Bank (Kenya) Ltd that allows a customer to conveniently get a loan to meet their emergency needs with ease. Your initial credit limit is determined by the behaviour on both your Equity bank account and Equitel line usage. Various parameters that are used include; how frequent the customer banks in a month, the average amount that remains in the account, default history of the customer, CRB rating etc. All these are analysed, aggregated and based on this aggregate score a limit is awarded. If the score is too low the customer will not be awarded a limit.1 1 1 0 1 0 It is a term loan accessed via the mobile-based banking service provided by Equity Bank (Kenya) Ltd that allows a customer to conveniently get a loan payable in easy monthly instalments. Eazzy Plus also takes into account other term loans that a customer holds with the bank, thus if a customer has existing loans the limit awarded will be consumed by the outstanding loan balances.0 0 1 0 0 01 0 0 1 1 0 Finomena finances retail purchases such as mobile phones, laptops, household appliances, and furniture. Applicants either go online or downloads their app and applies. They can paste the URL for the product of their interest from various Biz2Credit partners. Finomena also target millenials (see link "Other") and heavily use alternative data. 0 0 0 1 0 0 Flexiloans offers businesses working capital loans and equipment financing options. They appear to target only SMEs. 0 0 0 0 0 0 Ag loans available 1 0 0 0 0 00 0 0 0 0 0 student loan platform (also includes scholarship info). Currently only for higher education abroad0 0 1 0 0 0 Credit Score Model is based on 20+ parameters in addition to CIBIL score. Requires loan requirement personal details, employment history, and financial details. investors receive up to 30% returns with Principle Protection. i2i diligently evaluates the credit risk of each of the loan projects, post which it assigns risk category and recommends an interest rate for that project (a borrower can borrow at an interest rate which is higher than or equal to this rate). This helps the borrowers as well as the investors to have a benchmark interest rate. In the process, the investors get an opportunity to earn higher 'risk adjusted returns' while the borrowers get an opportunity to get funded at the lowest cost possible as per their risk profile and market based demand. We also provide legal and recovery support to investors in case of default by any borrower.0 1 1 1 1 0 01 1 1 1 0 1 only apply online, unsecured loans and credit reports

1 0 0 1 0 0 1 IMM lenders get a return on their investments up to 24% per annum. Our platform uses the online data accessing technology to quickly determine the credit rating and risk factors of our applicants before enlisting them on our marketplace. Additionally, physical verification is also carried out to ensure that only authentic people participates on IMM. Only those applicants, who satisfies our verification process will be registered as Lenders and Borrowers with IndiamoneyMart. It's only after the approval, applicants can then see each other’s profile and identify their match and carry out transactions on IndiaMoneyMart e-lending platform.1 0 1 1 1 0 0

0 0 1 0 0 0 This asks for a lot of business data, applies only to ecommerce SME1 0 1 1 1 0 0 Our online and mobile platform brings together lenders and borrowers, creates credit profiles using our proprietary, new-age data based proxy credit score technology, matches borrowers to the best lenders for their profile, and executes lending transactions.

1 1 1 0 1 0 Be a registered and active Safaricom M-PESA customer. KCB has several ag specific loan products0 0 1 1 0 0 Completely online product, amounts seem fairly high so maybe targeted at higher-income individuals or SMEs

1 0 1 1 1 1 01 1 0 1 1 1 0 To qualify for the loan, the applicant simply needs to be over 18 years of age, and either in active business or employed and an Mpesa statement for the last 3 months. After a quick verification of identity, particulars and viability, the cash is instantly sent to the applicant's mobile phone. Kopa is specifically designed to cater for the unique needs of this fast-paced and digital society, so we have incorporated Social Media as one of the platforms used in the operations of Kopa.

0 1 1 0 1 00 0 1 0 0 01 1 1 1 0 1 also looks at online spending patterns. Lendbox facilitates transactions between investors and borrowers using multiple platforms0 0 1 1 1 0

1 0 0 1 0 0 0 Educational qualification, family background, reputation, competitiveness in the market, etc. (techstory). Focuses on current year's cash flows and business growth. Data determines the customer's intent to pay back a loan, quality of product/service, financial health of the business, and ability to survive with competition

living habits

Income level

Social, demographic details

Mobile Money Data

Mobile Phone Data

Traditional Financial History Data

Online Activity and Social Media

Previous Digital Credit Loans

Other Personal Information

scoring platform not as clear, supposedly using "100" data points. lendenclub has borrower default funds for those not classified as "very high risk"

0 0 0 0 0 0 This is a planned product that is set to launch soon, there are very few details available currently. Lydia will be the first totally digital (branchless) bank in Nigeria.1 0 1 1 0 0 0

1 1 0 0 1 0 Client inputs mobile # and "within minutes" they have an answer0 0 0 0 0 0 similar to pyramid scheme (encouraging referrals)1 1 0 1 0 0 inventure = scoring platform

1 1 1 1 0 0 01 1 1 0 1 0

1 0 0 1 1 0 0 Name, address, phone numbers, employer, salary amount, and bank account details and nnumber. 1 1 1 0 1 01 1 1 0 1 00 0 1 0 0 0 M-Pepea is only available to customers whose employer signs up for the service; it is only meant to provide small emergency loans that effectively act as pay-day loans or salary advances1 1 1 0 1 0 Has Deposit Insurance up to $1,2000 0 1 0 0 0 Reviews average card/online sales for company to forecast projected timeline for repayment (accion)1 1 1 0 1 0 loans targeted to avg 10,000 tsh ($5). Includes insurance for loan amount against death or permanent disability. Money can be transferred to other MM services (Mpesa or banks), and can be used to pay bills or cashed out with agent.1 0 1 0 0 1 loans for utility payments only

1 1 0 0 1 1 0 1 Seems to be a fairly standard product within the definition of digital credit we've defined. Unique aspect: app requires logging on to Facebook before communicating loan decision.1 1 1 0 1 00 0 1 0 0 0 agent commission scheme

1 0 1 1 0 1 00 0 0 0 0 0 Offers unsecured personal loans to individuals. Uses a proprietary risk assesment model to determine creditworthiness. Sources do not offer details.0 1 1 1 1 00 1 1 0 1 0 student loans for online purchases

1 0 1 1 1 0 00 0 1 1 1 01 1 0 0 1 00 0 0 0 0 0 only allows members to buy specific online products (essentially an online credit card). Matches student with financing0 0 0 1 0 0 This product determines loan eligibility based on social media presence (right now they use data from Facebook and Twitter, planning to add more in the future); the algorithm scoring is provided by BitCom (parent company) and the terms of the loan are set by partner banks that use the product, currently only Sterling Bank is a partner0 0 0 0 0 0 Solvesting is more of a P2P lending marketplace than an actual digital credit product, but they use algorithms to determine the risk of loans posted to their marketplace1 1 1 0 1 0 Not clear how mobile phone number is used. Reports information to credit bureaus. Jumo has 4% non performing loan rate1 1 1 0 1 00 1 1 1 1 0 potentially a scam - website seems less than legitimate0 1 1 1 1 1 also reviews traditional credit history and financial documents0 0 0 0 0 0 payment option for online merchants. Downpayment required but then pay as you go (similar to online credit card). Scrapes data from bank statements (not from phone)

1 14 1 22 31 49 27 28 8

This product is only available to employees of companies who sign up for the service. The employees are able to receive a credit decision instantly through their algorithm, and the payments on the loan are taken directly from their pay checks. So far, the default rate is very low, pointing to fairly low riskBajajfinserv offers personal, home, business, and doctors loans. Their personal loan characteristics fit our definition of digital credit: online approval in five mins and cash disbursement within 72 hoursBitbond is a German P2P company that uses Bitcoin technology. All contracts are subject to German lawBiz2Credit offers personal and business loans through its online platform. It uses its Biz Analyzer technology to create a score for businesses applying for loans

uses formal financial data as wellLooks at name, mobile number, PAN number, date of birth, and uses this to access shopping and travel hisotry. Acts as online lending system for online purchases. Doesn't require bank account (FAQ), does require proof of employment and salaryscore determined is "Social Loan Quotient" (SLQ)This is a planned segment of a currently operating MM platform, details are so far hazyCombines traditional credit scoring with new social and online scoring technology-linked risk assessment concepts. Users of the application are able to login though their Facebook accounts, communicate the amount they need as a loan and a date they could settle it, submit basic documents, and get the money credited to their bank accounts. (crunchbase)It is a mobile-based banking service provided by Equity Bank (Kenya) Ltd that allows a customer to conveniently get a loan to meet their emergency needs with ease. Your initial credit limit is determined by the behaviour on both your Equity bank account and Equitel line usage. Various parameters that are used include; how frequent the customer banks in a month, the average amount that remains in the account, default history of the customer, CRB rating etc. All these are analysed, aggregated and based on this aggregate score a limit is awarded. If the score is too low the customer will not be awarded a limit.It is a term loan accessed via the mobile-based banking service provided by Equity Bank (Kenya) Ltd that allows a customer to conveniently get a loan payable in easy monthly instalments. Eazzy Plus also takes into account other term loans that a customer holds with the bank, thus if a customer has existing loans the limit awarded will be consumed by the outstanding loan balances.

Finomena finances retail purchases such as mobile phones, laptops, household appliances, and furniture. Applicants either go online or downloads their app and applies. They can paste the URL for the product of their interest from various Biz2Credit partners. Finomena also target millenials (see link "Other") and heavily use alternative data. Flexiloans offers businesses working capital loans and equipment financing options. They appear to target only SMEs. Ag loans available

student loan platform (also includes scholarship info). Currently only for higher education abroadCredit Score Model is based on 20+ parameters in addition to CIBIL score. Requires loan requirement personal details, employment history, and financial details. investors receive up to 30% returns with Principle Protection. i2i diligently evaluates the credit risk of each of the loan projects, post which it assigns risk category and recommends an interest rate for that project (a borrower can borrow at an interest rate which is higher than or equal to this rate). This helps the borrowers as well as the investors to have a benchmark interest rate. In the process, the investors get an opportunity to earn higher 'risk adjusted returns' while the borrowers get an opportunity to get funded at the lowest cost possible as per their risk profile and market based demand. We also provide legal and recovery support to investors in case of default by any borrower.

1 1 1 1 0only apply online, unsecured loans and credit reportsIMM lenders get a return on their investments up to 24% per annum. Our platform uses the online data accessing technology to quickly determine the credit rating and risk factors of our applicants before enlisting them on our marketplace. Additionally, physical verification is also carried out to ensure that only authentic people participates on IMM. Only those applicants, who satisfies our verification process will be registered as Lenders and Borrowers with IndiamoneyMart. It's only after the approval, applicants can then see each other’s profile and identify their match and carry out transactions on IndiaMoneyMart e-lending platform.

This asks for a lot of business data, applies only to ecommerce SMEOur online and mobile platform brings together lenders and borrowers, creates credit profiles using our proprietary, new-age data based proxy credit score technology, matches borrowers to the best lenders for their profile, and executes lending transactions.Be a registered and active Safaricom M-PESA customer. KCB has several ag specific loan productsCompletely online product, amounts seem fairly high so maybe targeted at higher-income individuals or SMEs

To qualify for the loan, the applicant simply needs to be over 18 years of age, and either in active business or employed and an Mpesa statement for the last 3 months. After a quick verification of identity, particulars and viability, the cash is instantly sent to the applicant's mobile phone. Kopa is specifically designed to cater for the unique needs of this fast-paced and digital society, so we have incorporated Social Media as one of the platforms used in the operations of Kopa.

also looks at online spending patterns. Lendbox facilitates transactions between investors and borrowers using multiple platforms

Educational qualification, family background, reputation, competitiveness in the market, etc. (techstory). Focuses on current year's cash flows and business growth. Data determines the customer's intent to pay back a loan, quality of product/service, financial health of the business, and ability to survive with competition

Individuals register themselves on i-lend as borrower or lender. Registration includes providing information such as personal, professional, financial details which i-lend verifies. We also require documents to be submitted to verify the information provided by individuals. In addition to this, i-lend verifies information through other available resources. This is in line with the KYC norms set by RBI and followed across the BFSI sector.

scoring platform not as clear, supposedly using "100" data points. lendenclub has borrower default funds for those not classified as "very high risk"

This is a planned product that is set to launch soon, there are very few details available currently. Lydia will be the first totally digital (branchless) bank in Nigeria.

Client inputs mobile # and "within minutes" they have an answersimilar to pyramid scheme (encouraging referrals)inventure = scoring platform

Name, address, phone numbers, employer, salary amount, and bank account details and nnumber.

M-Pepea is only available to customers whose employer signs up for the service; it is only meant to provide small emergency loans that effectively act as pay-day loans or salary advancesHas Deposit Insurance up to $1,200Reviews average card/online sales for company to forecast projected timeline for repayment (accion)loans targeted to avg 10,000 tsh ($5). Includes insurance for loan amount against death or permanent disability. Money can be transferred to other MM services (Mpesa or banks), and can be used to pay bills or cashed out with agent.loans for utility payments onlySeems to be a fairly standard product within the definition of digital credit we've defined. Unique aspect: app requires logging on to Facebook before communicating loan decision.

agent commission scheme

Offers unsecured personal loans to individuals. Uses a proprietary risk assesment model to determine creditworthiness. Sources do not offer details.

student loans for online purchases

only allows members to buy specific online products (essentially an online credit card). Matches student with financingThis product determines loan eligibility based on social media presence (right now they use data from Facebook and Twitter, planning to add more in the future); the algorithm scoring is provided by BitCom (parent company) and the terms of the loan are set by partner banks that use the product, currently only Sterling Bank is a partnerSolvesting is more of a P2P lending marketplace than an actual digital credit product, but they use algorithms to determine the risk of loans posted to their marketplaceNot clear how mobile phone number is used. Reports information to credit bureaus. Jumo has 4% non performing loan rate

potentially a scam - website seems less than legitimatealso reviews traditional credit history and financial documentspayment option for online merchants. Downpayment required but then pay as you go (similar to online credit card). Scrapes data from bank statements (not from phone)

This product is only available to employees of companies who sign up for the service. The employees are able to receive a credit decision instantly through their algorithm, and the payments on the loan are taken directly from their pay checks. So far, the default rate is very low, pointing to fairly low riskBajajfinserv offers personal, home, business, and doctors loans. Their personal loan characteristics fit our definition of digital credit: online approval in five mins and cash disbursement within 72 hours

Biz2Credit offers personal and business loans through its online platform. It uses its Biz Analyzer technology to create a score for businesses applying for loans

Looks at name, mobile number, PAN number, date of birth, and uses this to access shopping and travel hisotry. Acts as online lending system for online purchases. Doesn't require bank account (FAQ), does require proof of employment and salary

Combines traditional credit scoring with new social and online scoring technology-linked risk assessment concepts. Users of the application are able to login though their Facebook accounts, communicate the amount they need as a loan and a date they could settle it, submit basic documents, and get the money credited to their bank accounts. (crunchbase)It is a mobile-based banking service provided by Equity Bank (Kenya) Ltd that allows a customer to conveniently get a loan to meet their emergency needs with ease. Your initial credit limit is determined by the behaviour on both your Equity bank account and Equitel line usage. Various parameters that are used include; how frequent the customer banks in a month, the average amount that remains in the account, default history of the customer, CRB rating etc. All these are analysed, aggregated and based on this aggregate score a limit is awarded. If the score is too low the customer will not be awarded a limit.It is a term loan accessed via the mobile-based banking service provided by Equity Bank (Kenya) Ltd that allows a customer to conveniently get a loan payable in easy monthly instalments. Eazzy Plus also takes into account other term loans that a customer holds with the bank, thus if a customer has existing loans the limit awarded will be consumed by the outstanding loan balances.

Finomena finances retail purchases such as mobile phones, laptops, household appliances, and furniture. Applicants either go online or downloads their app and applies. They can paste the URL for the product of their interest from various Biz2Credit partners. Finomena also target millenials (see link "Other") and heavily use alternative data.

Credit Score Model is based on 20+ parameters in addition to CIBIL score. Requires loan requirement personal details, employment history, and financial details. investors receive up to 30% returns with Principle Protection. i2i diligently evaluates the credit risk of each of the loan projects, post which it assigns risk category and recommends an interest rate for that project (a borrower can borrow at an interest rate which is higher than or equal to this rate). This helps the borrowers as well as the investors to have a benchmark interest rate. In the process, the investors get an opportunity to earn higher 'risk adjusted returns' while the borrowers get an opportunity to get funded at the lowest cost possible as per their risk profile and market based demand. We also provide legal and recovery support to investors in case of default by any borrower.

IMM lenders get a return on their investments up to 24% per annum. Our platform uses the online data accessing technology to quickly determine the credit rating and risk factors of our applicants before enlisting them on our marketplace. Additionally, physical verification is also carried out to ensure that only authentic people participates on IMM. Only those applicants, who satisfies our verification process will be registered as Lenders and Borrowers with IndiamoneyMart. It's only after the approval, applicants can then see each other’s profile and identify their match and carry out transactions on IndiaMoneyMart e-lending platform.

Our online and mobile platform brings together lenders and borrowers, creates credit profiles using our proprietary, new-age data based proxy credit score technology, matches borrowers to the best lenders for their profile, and executes lending transactions.


also looks at online spending patterns. Lendbox facilitates transactions between investors and borrowers using multiple platforms



lendenclub has borrower default funds for those not classified as "very high risk"

This is a planned product that is set to launch soon, there are very few details available currently. Lydia will be the first totally digital (branchless) bank in Nigeria.

M-Pepea is only available to customers whose employer signs up for the service; it is only meant to provide small emergency loans that effectively act as pay-day loans or salary advances

loans targeted to avg 10,000 tsh ($5). Includes insurance for loan amount against death or permanent disability. Money can be transferred to other MM services (Mpesa or banks), and can be used to pay bills or cashed out with agent.

Seems to be a fairly standard product within the definition of digital credit we've defined. Unique aspect: app requires logging on to Facebook before communicating loan decision.

Offers unsecured personal loans to individuals. Uses a proprietary risk assesment model to determine creditworthiness. Sources do not offer details.

This product determines loan eligibility based on social media presence (right now they use data from Facebook and Twitter, planning to add more in the future); the algorithm scoring is provided by BitCom (parent company) and the terms of the loan are set by partner banks that use the product, currently only Sterling Bank is a partnerSolvesting is more of a P2P lending marketplace than an actual digital credit product, but they use algorithms to determine the risk of loans posted to their marketplaceNot clear how mobile phone number is used. Reports information to credit bureaus. Jumo has 4% non performing loan rate

payment option for online merchants. Downpayment required but then pay as you go (similar to online credit card). Scrapes data from bank statements (not from phone)

This product is only available to employees of companies who sign up for the service. The employees are able to receive a credit decision instantly through their algorithm, and the payments on the loan are taken directly from their pay checks. So far, the default rate is very low, pointing to fairly low risk

Looks at name, mobile number, PAN number, date of birth, and uses this to access shopping and travel hisotry. Acts as online lending system for online purchases. Doesn't require bank account (FAQ), does require proof of employment and salary





Our online and mobile platform brings together lenders and borrowers, creates credit profiles using our proprietary, new-age data based proxy credit score technology, matches borrowers to the best lenders for their profile, and executes lending transactions.




loans targeted to avg 10,000 tsh ($5). Includes insurance for loan amount against death or permanent disability. Money can be transferred to other MM services (Mpesa or banks), and can be used to pay bills or cashed out with agent.

This product determines loan eligibility based on social media presence (right now they use data from Facebook and Twitter, planning to add more in the future); the algorithm scoring is provided by BitCom (parent company) and the terms of the loan are set by partner banks that use the product, currently only Sterling Bank is a partner







It is a mobile-based banking service provided by Equity Bank (Kenya) Ltd that allows a customer to conveniently get a loan to meet their emergency needs with ease. Your initial credit limit is determined by the behaviour on both your Equity bank account and Equitel line usage. Various parameters that are used include; how frequent the customer banks in a month, the average amount that remains in the account, default history of the customer, CRB rating etc. All these are analysed, aggregated and based on this aggregate score a limit is awarded. If the score is too low the customer will not be awarded a limit.





It is a mobile-based banking service provided by Equity Bank (Kenya) Ltd that allows a customer to conveniently get a loan to meet their emergency needs with ease. Your initial credit limit is determined by the behaviour on both your Equity bank account and Equitel line usage. Various parameters that are used include; how frequent the customer banks in a month, the average amount that remains in the account, default history of the customer, CRB rating etc. All these are analysed, aggregated and based on this aggregate score a limit is awarded. If the score is too low the customer will not be awarded a limit.





Country Product Name ProviderIndia Capital First Capital FirstIndia Capital Float Capital FloatIndia CashCare CashCareIndia Cashe CasheIndia EarlySalary Social Worth TechnologieIndia Fair Cent Fair CentIndia Gyandhan GyandhanIndia i-Lend i-lend.inIndia i2ifunding i2ifundingIndia India Lends India LendsIndia India Money Mart (IMM) India Money MartIndia InstaPaisa InstaPaisaIndia KrazyBee KrazyBeeIndia Lendbox LendboxIndia LendDenClub LendDenClubIndia Lendingkart Lendingkart Technologies India Money in Minutes Capital Infussion Private LIndia Nano Credit Suvidhaa/Axis BankIndia NeoGrowth NeoGrowth Credit Pvt. LtIndia Quick Credit Quick CreditIndia Quiklo AccelIndia Rupeelend RuppeelendIndia SlicePay SlicePayIndia Vote For Cash Vote for CashIndia World of Lending World of LendingIndia ZestMoney ZestMoneyIndia Bajaj Finserv Bajaj FinservIndia Bitbond BitbondIndia Biz2Credit Biz2CreditIndia CreditXchange (website now calls It Qbera) CreditXchange (website now calls It Qbera)India Finomena FinomenaIndia FlexiLoans FlexiLoansIndia Indifi IndifiIndia Instakash InstakashIndia Kissht KisshtIndia PayU LazypayIndia LoanMeet LoanMeetIndia Rupaiya Exchange Rupaiya ExchangeKenya Branch Loan BranchKenya Eazzy Loan EquitelKenya Eazzy Loan Plus EquitelKenya Grow Kopo KopoKenya KCB M-Pesa KCB Bank KenyaKenya Kopa Cash JumoKenya M-Pawa Sacco Stima SaccoKenya M-Pepea Raven Ltd.Kenya M-Shwari Safaricom

Kenya Mjiajiri MjiajiriKenya Mobiloans MicromobileKenya Okoa Stima SafaricomKenya Pesa na Pesa AVLC GroupKenya Pesa Pata Paddy Micro Invest.Kenya PesaZetu PesaZetuKenya Saida Greenshoe CapitalKenya SME/Business/AG Get BucksKenya Solvesting SolvestingMultiple Personal & Group L-PesaNigeria Aella Credit Aella CreditNigeria Diamond Y'ello Account DiamondNigeria KiaKia KiaKia Bits LtdNigeria Lidya LidyaNigeria Paylater One FinanceNigeria Social Lender BitComTanzania M-Pawa VodacomTanzania Mkopo Rahisi (Tala) Mkopo Rahisi (Tala)Tanzania Nivushe TigoTanzania Timiza Cash AirtelTanzania Timiza Wakala AirtelUganda MoKash MTN

Year Established Primary Source

2013201520162015

20162012201520152015201520162016201620142016201620132016201620152016201520102016

2007CreditXchange (website now calls It Qbera)

201520152015

2015

201520152015201220152015201520112012

Capital First WebsiteCapital Float WebsiteCash Care WebsiteWeb India October 2016EarlySalary WebsiteFair Cent WebsiteGyandhan Websitei-Lend Websitei2ifunding WebsiteIndia Lends WebsiteIndia Money Mart WebsiteInstaPaisa WebsiteKrazyBee WebsiteLendbox WebsiteLenDenClub WebsiteLendingkart WebsiteMoney in Minutes WebsiteUnited News of India August 2016NeoGrowth WebsiteQuick Credit WebsiteQuiklo WebsiteRupeelend WebsiteSlicePay WebsiteVote For Cash WebsiteWorld of Lending WebsiteZestMoney WebsiteBajaj Finserv SiteBit Bond SiteBiz2Credit WebsiteCredit Exchange (Now Qbera) SiteFinomena SiteFlexiLoans SiteIndifi SiteInstakash SiteKissht SiteLazyPay SiteLoanMeet SiteRupaiya Exchange SiteBranch WebsiteEquitel WebsiteSoft Kenya February 2016Tech Cabal December 2015KCB M-Pesa WebsiteKopa Cash WebsiteIT News Africa May 2015SlideShare November 2011M-Shwari Website

http://www.capitalfirst.com/

https://www.capitalfloat.com/

http://cashcare.in/

http://news.webindia123.com/news/Articles/India/20161016/2970614.html,%20http:/timesofindia.indiatimes.com/business/india-business/Indias-first-cash-giving-app-CASHe-launched/articleshow/51659515.cms,%20http:/timesofindia.indiatimes.com/business/ind

http://earlysalary.com/

https://www.faircent.com/

https://www.gyandhan.com/

https://www.i-lend.in/

https://www.i2ifunding.com/

https://indialends.com/

https://www.indiamoneymart.com/

https://www.instapaisa.com/

https://www.krazybee.com/

https://www.lendbox.in/

https://www.lendenclub.com/

https://www.lendingkart.com/

https://www.moneyinminutes.in/

http://www.uniindia.com/axis-bank-ties-with-suvidhaa-infoserve-to-offer-nano-credit/business-economy/news/587963.html

https://www.neogrowth.in/

https://www.quickcredit.in/

http://www.quiklo.com/

https://www.rupeelend.com/

https://slicepay.in/

https://vote4cash.in/

http://www.worldoflending.com/

https://zestmoney.in/

https://www.bajajfinserv.in/finance/digital-product-finance/salaried-digital-product-finance.aspx

https://www.bitbond.com/resources/loans/loans-in-india/

http://www.biz2credit.in/personal-loans

http://www.qbera.com/

https://finomena.com/faqs/

http://flexiloans.in/

http://www.indifi.com/

http://instakash.in/

https://kissht.com/faq/

https://www.lazypay.in/faq.html

https://www.loanmeet.com/faqs/faqs/lenderquestions

https://www.rupaiyaexchange.com/p2p-loans-india/

https://branch.co/

http://www.equitel.com/my-money/howtoguide

https://softkenya.com/equitel/

http://techcabal.com/2015/12/01/kopo-kopo-micro-lending-switch/

https://ke.kcbbankgroup.com/home/loans/mobile/kcb-m-pesa

http://www.kopacash.com/

http://www.itnewsafrica.com/2015/05/kenyas-stima-introduces-m-pawa/

http://www.slideshare.net/edwinmaina/welcome-to-mpepea-credit

http://www.safaricom.co.ke/personal/m-pesa/do-more-with-m-pesa/m-shwari

2016201320152015201320152015

2014

2015Planned2015Planned

201420162016201420152016

blanks indicated no clear info on website

Mjiajiri WebsiteMicromobile WebsiteOkoa Stime WebsitePesa na Pesa WebsitePesa Pata WebsitePesaZetu WebsiteSaida WebsiteGet Bucks WebsiteSolvesting WebsiteL-Pesa WebsiteAella Credit WebsiteDiamond Y'ello WebsiteKiaKia WebsiteConnect Nigeria November 2016Paylater WebsiteSocial Lender WebsiteM-Pawa WebsiteTala WebsiteTigo Nivushe WebsiteTimiza Cash WebsiteAll Africa August 2016MoKash Website

http://www.mjiajiri.co.ke/index.html

https://www.micromobile.co.ke/

http://www.avlc-group.com/pesa-na-pesa

http://pesapata.com/

http://pesazetu.co/app/howitworks.html

http://getsaida.com/

https://ke.getbucks.com/

http://solvesting.com/

https://l-pesa.com/

https://www.aellacredit.com/

http://www.diamondbank.com/personal/financial-inclusion/diamond-yello-account/

https://www.kiakia.co/

http://connectnigeria.com/articles/2016/11/comes-digital-bank-lidya-bank/

https://www.paylater.ng/

http://sterling.sociallenderng.com/

https://vodacom.co.tz/mpesa/mpawa/welcome

http://tala.co/

http://64.202.123.140/stg-tigo.co.tz/tigo-nivushe

http://africa.airtel.com/wps/wcm/connect/africarevamp/tanzania/airtel_money_new/home/timiza

http://allafrica.com/stories/201608230214.html

https://www.mtn.co.ug/Mobile%20Money/Banking/Pages/MoKash.aspx

351: Review of Digital Credit Product Offerings - Targeted Low Income Products vs. those that are not specified.

DataTargets women? Average of Standardized APR Min Average of StandardizedAverage of Lo 6.75% 32.33% 16,000yes 11.69% 25.00%(empty) 40.33% 75.71% 2,963,708Total Result 37.74% 71.30% 2,805,795

Low Income Products that offer rewards for Digital Credit UseCount of Product Name Targets women? Describe marketing/custom yes (empty)"Online marketing via social media and various online portals" 175% use loans to start or grow a business 1At present, it is focusing on e-commerce vendors and plans to branch out in other domains 1business owners 1business to business loans 1college students at selected colleges 1ecommerce sellers 1employed 1employed individuals 1individuals with bank account 1individuals with salaries/bank accounts, businesses 1Kiosk, P2P 1Loans for online sellers and businesses that use EDC card swipe machines, minimum of 2 ye 1Must be employed, no loans to students 1Must be full time with minimum monthly salary of 18,000 1office workers, entrepreneurs 1only available to mobile money agents (Airtel) 1P2P 1personal and business loans 1Product aimed at providing business loans to SMEs in low-income areas 1salaried individuals 2students 1students (currently only in Bangalore) 1students going to certain foreign schools 1Targeted at those who need pay day loans 1targets 20-35 year olds (webindia) 1targets entrepreneurs/salaried individuals 1targets mid-sized NBFCS, mostly in Delhi but may expand in the future. 1

targets students 1those with an income source who need access to credit 1those with bank accounts 1unbanked, low-income 1Utility clients 1young people 22-30 who are in their first job drawing a salary of Rs 30,000 or above per mo 1Young people with salary jobs 1(empty) 3 1 28Total Result 4 1 63

351: Review of Digital Credit Product Offerings - Targeted Low Income Products vs. those that are not specified.

Average of Lo Average of Repayment PeAverage of Repayment Period (days) maximum$5.40 0 34.3333333333333

$309.11 68.5116279069767 452.1875$296.19 62.6808510638298 427.607843137255

Total Result1111111111111111111121111111

1111111

3268

Country Product NameNigeria Aella CrediAella Credit 4.00% 4.00% Per monthIndia Bajaj FinseBajaj Finserv 16.00% Not specifiedIndia Bitbond Bitbond 7.70% Not specifiedIndia Biz2Credit Biz2Credit 11.69% 25.00% Not specifiedKenya Branch Branch LoanIndia Capital FirsCapital First 16.00% 24.00% Per annumIndia Capital Flo Capital Float 18.00% 24.00% Not specifiedIndia CashCare CashCare 15.00% 25.00% Per annumIndia Cashe CasheNigeria Diamond Diamond Y'ello AccountIndia Social WorEarlySalary 2.50% Per monthKenya Equitel Eazzy Loan 14.00% Per annumKenya Equitel Eazzy Loan Plus 14.00% Per annumIndia Fair Cent Fair Cent 12.00% 30.00% Not specifiedIndia Finomena Finomena 8.00% 12.00% per annumIndia FlexiLoans FlexiLoans 11.99% Per annumKenya Get Bucks Get Bucks 77.00% Per annumKenya Kopo KopoGrow 0.00% 0.00%India Gyandhan GyandhanIndia i2ifunding i2ifunding 12.00% 30.00% Not specifiedIndia i-lend.in i-Lend 12.00% Not specifiedIndia India LendsIndia Lends 11.49% 35.00% Per annumIndia India MoneIndia Money Mart (IMM) 12.00% 24.00% Per annumIndia Indifi Indifi 16.00% 24.00% Per annumIndia Instakash Instakash 18.00% 24.00% per annumIndia InstaPaisa InstaPaisaKenya KCB Bank KCB M-Pesa 1.16% 1.16% Per monthNigeria KiaKia Bits KiaKia 240.00% Per annumIndia Kissht Kissht 5.00% 15.00% Not specifiedKenya Jumo Kopa CashIndia KrazyBee KrazyBeeIndia PayU LazypayIndia Lendbox Lendbox 20.00% 24.00% Per annumIndia LendDenClLendDenClub 12.50% 30.00% Not specifiedIndia LendingkartLendingkartNigeria Lidya LidyaIndia LoanMeet LoanMeet 12.00% 30.00% Per annumMultiple L-Pesa L-PesaKenya Mjiajiri Mjiajiri 0.00% 0.00%

Provider Name

Interest Rate Min

Interest Rate Max

Interest Rate Timeframe: Daily, Weekly, Monthly, or Yearly?

Multiple Mkopo RahiMkopo Rahisi (Tala) 15.00% Per monthKenya MicromobiMobiloansUganda MTN MoKashIndia Capital Inf Money in Minutes 0.10% 1.00% Per dayTanzania Vodacom M-Pawa 0.00% 0.00%Kenya Stima SaccM-Pawa SaccoKenya Raven Ltd.M-Pepea 10.00% 15.00% Not specifiedKenya Safaricom M-ShwariIndia NeoGrowth NeoGrowthTanzania Tigo NivusheKenya Safaricom Okoa StimaNigeria One FinancPaylater 346.00% 380.00% Not specifiedKenya AVLC GrouPesa na Pesa 10.00% 10.00% Per weekKenya Paddy MicrPesa Pata 30.00% 30.00% Not specifiedKenya PesaZetu PesaZetu 6.00% 10.00% Not specifiedIndia Qbera Qbera 14.00% 24.00% Per annumIndia Quick CrediQuick CreditIndia Accel Quiklo 7.50% 15.00% 7.5 per 6 months, 1India Rupaiya ExRupaiya Exchange 15.00% 36.00% Per annumIndia RuppeelenRupeelend 0.10% 1.00% Per dayKenya Greenshoe Saida 7.50% 10.00% Not specifiedIndia SlicePay SlicePay 0.00% 20.00% Not specifiedNigeria BitCom Social LenderKenya Solvesting SolvestingTanzania Airtel Timiza CashTanzania Airtel Timiza WakalaIndia Vote for C Vote For Cash 0.10% 0.30% Per dayIndia World of L World of LendingIndia ZestMoneyZestMoney 2.50% 2.50% Per month

MedianModeMean

APR - Notes48.00% 48.00% Fixed at 4% per mont http://techc

16.00% https://www.bankbazaar.com/bajaj-finserv-personal-loan-interest-rates.html7.70% from site: Low interest business loan https://www.bitbond.com/resources/loans/loans-in-india/

11.69% 25.00% Personal loan interest rates o http://www.biz2credit.in/personal-loansVaries BIL reserves the right (in its sole an https://bran

16.00% 24.00% Interest information Capital First offers an interest of 16 http://www.c18.00% 24.00% Varies based on credi https://www.capitalfloat.com/regulatory15.00% 25.00% 0% for select merchanThe interest charged on loans offeredhttps://apply.cashcare.in/app/assets/faq.scala.html

Changes based on theWe charge you 1.5% flat interest for https://www.cashe.co.in/faq/website says loans currently unavaila http://www.diamondbank.com/personal/financial-inclusion/diamond-yello-account/

30.00% Opposing findings on http://earlysalary.com/faqs-salaried-applicants/; http://economictimes.indiatimes.com/small-biz/startups/earlysalary-an-app-to-avail-short-term-loans-through-smartphones/articleshow/51114062.cms14.00% http://ke.equitybankgroup.com/Eazzy-Loan-Terms-Conditions-Final.pdf; http://www.nation.co.ke/business/KCB-stops-three--six-month-M-Pesa-loans-after-rate-cut/996-3399690-q7l76n/14.00% The Interest rate chargeable shall be http://ke.equitybankgroup.com/Eazzy-Plus-Loan-Terms%20-Conditions-Final.pdf

12.00% 30.00% 12-30 suggested, dep https://www.faircent.com/interest-rates-and-fees; https://www.faircent.com/faircent-faq8.00% 12.00% Mentions in FAQs thatThe interest rate charged on your loahttps://finomena.com/faqs/

11.99% Information found at We may charge Processing fee to facilhttp://www.deal4loans.com/loans/loan/bajaj-finserv-flexi-loan-benefits-information/77.00% This exists in more t Annual Percentage Rate: Each client ihttps://za.getbucks.com/

0.00% 0.00% No interest The service enables existing and new http://techInterest rate set thro https://ww

12.00% 30.00% May also be 12-36% ba https://www12.00% Agreed on by lenders/ https://www.i-lend.in/how-it-works; https://www.i-lend.in/legal-agreements/loan-agreement-between-borrower-and-investor; https://yourstory.com/2012/06/i-lend-introduces-social-lending-india/11.49% 35.00% APR rates are differen https://indialends.com/personal-loan12.00% 24.00% Depends on credentialreturns will vary in-between 1 https://www.indiamoneymart.com/16.00% 24.00% Information found at “We are extending loans to segments whhttp://www.financialexpress.com/industry/banking-finance/how-indifi-technologies-helps-you-in-getting-small-loan/264668/18.00% 24.00% Found on website. StaWeekly, Fortnightly or Monthly repayhttp://instakash.in/smb-form.html

No mention of rates on product websithttps://www.instapaisa.com/13.92% 13.92% 1.16% per month https://ke.

240.00% Rates seem fixed at 0Our loan rates could be as high as 2 https://www.kiakia.co/ (under Index of Terms)5.00% 5.00% Loan terms are from 3The interest rate depends on the prodhttps://kiss

.5% daily (could not fiWhere the Interest Rate is variable orhttp://www.kopacash.com/terms-conditions/terms-and-conditions.htmlVaries based on credit https://wwwNo information neither on website nor on terms and condi https://www.lazypay.in/faq.html

20.00% 24.00% May be 20-24% accord https://www.lendbox.in/borrowers#5; http://www.financialexpress.com/industry/banking-finance/small-loans-of-rs-5000-to-rs-2-lakhs-startups-like-cashcare-lendbox-come-to-help/238828/12.50% 30.00% Blog suggests 12.5-3 Interest rate is curated for individua https://www.lendenclub.com/Borrowing/; https://www.quora.com/How-safe-is-money-in-P2P-platform-in-India

No information on rat https://wwwno information on site or in other sitehttps://www.

12.00% 30.00% Information found at The APR charged on the loan starts frhttps://www.loanmeet.com/howitworksNo information about Borrowing with L-Peas is also much chehttps://l-pesa.com/tz/news/view/lpesa-reduced-interest-rates/eDREb21KV0YzNjdIMWluUE9MaWwzUT09

0.00% 0.00% Maximum APR varies You enjoy easy and cheap loan at 0%.http://www.m

Standardized APR Min


Exact Text from Website Regarding Interest Rate

Source(s) Corresponding With TextNothing on product website.

Aella’s is fixed at 4 percent per month. Quick mathematicians may sum it up to 48 percent per annum, and they’d be right. But not so fast, there’s a difference. “The difference between us and the banks is that we loan on a short term basis, which means you can pay down your loan at any time, usually three to nine months, which is not an option banks give. This way, you can limit your loan footprint since you can pay back in one month which would accrue just 4%. from bankbazaar: 16%https://www.bankbazaar.com/bajaj-finserv-personal-loan-interest-rates.html

18-24%. The Company has laid down appropriate internal principles and procedure in determining interest rates, processing fees and other charges. The Company has adopted an interest rate model taking into account relevant factors such as, cost of funds, margin and risk premium, etc. and determine the rate of interest to be charged for loans and advances. The rate of interest and the approach for gradations of risk and rationale for charging different rate of interest to different categories of customers shall be communicated explicitly in the sanction letter.

Interest rate of 24-30%The Interest rate chargeable shall be as set out in the Banking Act comprising the Central Bank Rate (“CBR”) plus a margin of 4%. The CBR currently being 10% per annum, the effective interest rate is thus 14% per annum. This rate is subject to change as stipulated by law.

On the one month loan, Equity charges an appraisal fee of one per cent (that also attracts a 10 per cent excise duty), which is added to the interest that comes to no more than 1.17 per cent as per the legal limit.

A: Maximum recommended interest rates are assigned to each borrower by an automated underwriting mechanism that uses the personal and financial information provided by borrowers across more than 35 criteria to risk-asses the borrowers and understand the strength of their credit profile. The interest rate thus assigned ranges from 12% to 30%. However, final interest rates can only be decided between the concerned Borrower and Lenders who are free to negotiate without any intervention from Faircent. It’s a reverse auction model where Borrowers are empowered to reject a Lender offer and make counter-offers. Thus, the lowest bidder wins.

We charge a usage fee, which is charged only if/when two users enter into an agreement to give/receive funds.The interest rate is set by the bids of the investors. In the event of a tie, the bid placed earliest will be declared the winner.At the time of listing a loan, a borrower can set any interest rate equal to or above the i2i Recommended Interest Rate. However, if the borrower does not accept the i2i Recommended Interest Rate, i2i will refund all the fees (except the fee for borrower registration / creating borrower account), if any, as per Terms & Conditions. The borrower can then increase this interest rate during the period of listing to attract more investors.

A blog says the rates ranged between 12-30%The rate of interest applicable to the said loan as at the date of execution of this agreement is…………..………, compounded with the monthly rests on the outstanding balance, namely the balance of loan and unpaid interest and costs, charges and expenses outstanding at the end of the month. In India, Personal Loans starts from 11.49% and goes up to 35% per annum depending upon personal circumstances, credit assessment procedures and other related factors. Interest rates may also differ from lender to lender depending upon the credit score, Income, Loan amount, tenure.

debited monthly.

What are the interest rates that you guys are charging?We decide the interest rate based on the creditworthiness of the documents provided by you. In most cases however, it shall be the best rate available in the market.

The loans are at an average rate of 20-24 per cent per annum

There are no hidden charges. Our Group NBFC levy only one time processing fee equal to 1% of the sanctioned amount (personal loans)for Business loans: The company aims at simplifying the credit evaluation process, through efficient use of technology, making loan disbursement in three days at fair interest rates, it said. (source: https://yourstory.com/2015/11/lendingkart-paytm-tie-up/)

180.00% https://qz.com/768713/kenyans-got-the-better-loan-terms-they-wanted-but-banks-still-arent-ready-to-lend/Not sure if I put 0% or https://www.mobiloans.com/terms-and-conditions; https://www.nerdwallet.com/blog/loans/mobiloans-payday-loans/No information Competitive interest rates. In considerhttps://www.mtn.co.ug/Mobile%20Money/Banking/Pages/MoKash.aspx

36.50% 360.00% Website says max APR https://www.moneyinminutes.in/; https://www.moneyinminutes.in/our-charges.php0.00% 0.00% No interest fee, only fThere is no interest charged. There is https://vodacom.co.tz/mpesa/mpawa/faq

Varies (interest dedu In consideration of the Sacco grantinghttp://www.stima-sacco.com/index.php/mpawa10.00% 15.00% Not sure if it is 15, or http://afritorial.com/m-pepea/; http://www.africastrictlybusiness.com/news-analysis/faba-africa-africans-m-pepea; http://www.slideshare.net/edwinmaina/welcome-to-mpepea-credit

No interest rate http://www.nation.co.ke/business/MShwari-loan-charge-not-interest-CBA-tells-customers/996-3386682-3cgjj5z/; https://www.safaricom.co.ke/personal/m-pesa/do-more-with-m-pesa/m-shwari#1No information on we https://www.neogrowth.in/fair-practice-code; http://blog.neogrowth.in/index.php/2015/01/25/neogrowth-business-loan-interest-rate/No information Most importantly, as the product is f http://www.dignited.com/18013/tigo-tanzania-launches-tigo-nivushe-nano-lending-scheme/Not sure if a facility http://www.safaricom.co.ke/personal/m-pesa/lipa-na-m-pesa/okoa-stima#1

346.00% 380.00% Provided both a range https://www520.00% 520.00% Not from product web http://www.loans.info.ke/2016/05/pesa-na-pesa-m-pesa-loans-in-kenya.html; https://www.loans.or.ke/pesa-na-pesa/

30% 8.2.6. In consideration of Pesa Pata http://pesapata.com/terms-conditions/6.00% 10.00% http://pesazetu.co/app/howitworks.html

14.00% 24.00% Direct from website Loan amounts range from Rs.50,000 tohttp://www.qbera.com/personal-loans-in-bangalore.htmlInterest varies the sliders on the HOME page, HOW IThttps://www.quickcredit.in/index.php/page/faqs

15.00% 15.00% No information on webs http://www.quiklo.com/terms; http://www.crunchytricks.com/2016/12/quiklo-review-buy-laptops-phones-on-emi.html; http://www.gotechhero.com/2017/01/21/quiklo-review-students-can-buy-desired-products-ease/15.00% 36.00% Unambiguous from their website https://www.rupaiyaexchange.com/p2p-loans-india/36.50% 365.00% Rate of interest @ 0.1% to 1% /day https://www.rupeelend.com/

7.50% 10.00% http://getsaida.com/; https://www.loans.or.ke/saida/0.00% 20.00% https://yourstory.com/2016/08/slicepay/

Set by the partner ba http://sterling.sociallenderng.com/ Solvesting matches in http://solvesting.com/AboutUs

"Only with Timiza, you get affordable http://africa.airtel.com/wps/wcm/connect/africarevamp/tanzania/airtel_money_new/home/timiza"Only with Timiza, you get affordable http://africa.airtel.com/wps/wcm/connect/africarevamp/tanzania/airtel_money_new/home/timiza

36.50% 109.50% Depends on membershi http://vote4cash.in/faqs.htmlInterest rates are ne Interest rates are finalized by you an http://www.worldoflending.com/

30.00% 30.00% The interest is paid Payable monthly by the customer, direhttps://zestmoney.in

12.25% 24.00%12.00% 24.00%37.95% 72.34%

while loans on Tala (an online microcredit provider) attract a monthly interest rate of 15%.Source: https://qz.com/768713/kenyans-got-the-better-loan-terms-they-wanted-but-banks-still-arent-ready-to-lend/No interest, just a fixed finance charge and a cash advance fee

The interest rate applied to the unpaid principal balance…is 0%.Eg- On a loan of 10000/- Rupees for 90 days, total interest @1% payable is 6525/- Rupees. Total Amount payable ( Principal + Interest)= 16525/- ( Sixteen Thousand Five Hundred Twenty Five Rupees Only) * Payable in 3 EMI

M-Pepea charges about a 10 percent interest rate.“There is no interest levied on M-Shwari loans. What we have is a one off facilitation fee of 7.5 per cent charged at disbursement,” Mr Eric Muriuki, the general manager new business ventures at CBA told the Daily Nation.

Micro Credit (Loan) Loan Facilitation Fee 7.5%For interest rates, please contact your executive by filling our application form:

Okoa Stima is charged a facility fee of 10% of value of the top up meaning you will receive tokens worth 10% less the amount requested. For example, if you request KShs. 1,000, you will receive top up worth KShs. 900, with KShs. 100 retained as facilitation fee.

APR: Keep in mind that depending on the duration of the Paylater loan, the annual percentage rate (APR) on a Paylater loan can vary from 346% to 380%.Borrowing a loan from pesa na pesa is simply through your mobile phone by dialling*415*33# .The lender gives micro loans of up to ksh5000.A good repayment history will make your loan limit increased.The interest rate is 10%weekly.

For Pesa na Pesa loans collateral is required as stated above. Minimum loan amount is Kshs.500 while maximum is Kshs.10, 000. Repayment duration is 10 days. Loan interest rate is 10%.We are currently piloting 3 loan products for 28 day loans. Interest rates for borrowers vary from 6% to 10%.

Borrowers are charged a fee of 10% of outstanding loan principal on amounts not paid on schedule and on a weekly basis.

Quiklo has aimed to make the finance as supportable as they can for the students. The website charges a minimal interest rate of 7.5% for 6 months and 15% for a 12-month tenure.

Charge low as 7.5% The rate you get is tailor made for you - so each customer gets a different rate.

Loan interest rate is between 7.5% and 10%. The rate you get is tailor made for you, so each customer gets a different rate. Loan disbursement mode is via M-pesa or Airtel Money.From yourstory: The interest rate charged on it varies between zero and 20 percent.https://yourstory.com/2016/08/slicepay/from blog on site:The interest rate is largely dependent on the financial institution that is involved. Sterling Bank will do about ten percentOur interest setting decision making process is based on extrapolations of financial models we have built and as such may be subject to unreliable information or to extreme scenarios which we did not foresee. Actual returns on loans may vary considerably from the advertised returns to due factors which could not have been foreseen at the inception of each loan.

Our interest setting decision making process relies on information passed to us by partner companies and third party entities, and as such is not perfect. We do not have the capacity to check every piece of information, and therefore, our interest rate could be materially different than the actual risk of each individual loan.

Rate of Interest: GOLD Member

1-6 days - 0.1% per day7-14 days -0.15% per day15-30 days -0.25% per day

12-170%https://www.bankbazaar.com/bajaj-finserv-personal-loan-interest-rates.htmlhttps://www.bitbond.com/resources/loans/loans-in-india/http://www.biz2credit.in/personal-loans

27%21-27%

https://www.capitalfloat.com/regulatoryhttps://apply.cashcare.in/app/assets/faq.scala.htmlhttps://www.cashe.co.in/faq/http://www.diamondbank.com/personal/financial-inclusion/diamond-yello-account/http://earlysalary.com/faqs-salaried-applicants/; http://economictimes.indiatimes.com/small-biz/startups/earlysalary-an-app-to-avail-short-term-loans-through-smartphones/articleshow/51114062.cmshttp://ke.equitybankgroup.com/Eazzy-Loan-Terms-Conditions-Final.pdf; http://www.nation.co.ke/business/KCB-stops-three--six-month-M-Pesa-loans-after-rate-cut/996-3399690-q7l76n/http://ke.equitybankgroup.com/Eazzy-Plus-Loan-Terms%20-Conditions-Final.pdfhttps://www.faircent.com/interest-rates-and-fees; https://www.faircent.com/faircent-faqhttps://finomena.com/faqs/ http://www.deal4loans.com/loans/loan/bajaj-finserv-flexi-loan-benefits-information/https://za.getbucks.com/

73, 61, 49%183%

Varies, set by SACCOhttps://www.i-lend.in/how-it-works; https://www.i-lend.in/legal-agreements/loan-agreement-between-borrower-and-investor; https://yourstory.com/2012/06/i-lend-introduces-social-lending-india/https://indialends.com/personal-loanhttps://www.indiamoneymart.com/http://www.financialexpress.com/industry/banking-finance/how-indifi-technologies-helps-you-in-getting-small-loan/264668/http://instakash.in/smb-form.htmlhttps://www.instapaisa.com/

91%https://www.kiakia.co/ (under Index of Terms)

Similar to pyramid schemehttp://www.kopacash.com/terms-conditions/terms-and-conditions.html

521%https://www.lazypay.in/faq.htmlhttps://www.lendbox.in/borrowers#5; http://www.financialexpress.com/industry/banking-finance/small-loans-of-rs-5000-to-rs-2-lakhs-startups-like-cashcare-lendbox-come-to-help/238828/https://www.lendenclub.com/Borrowing/; https://www.quora.com/How-safe-is-money-in-P2P-platform-in-India

521%365%

https://www.loanmeet.com/howitworkshttps://l-pesa.com/tz/news/view/lpesa-reduced-interest-rates/eDREb21KV0YzNjdIMWluUE9MaWwzUT09

85-130%

CGAP APR Information (if available) (http://www.cgap.org/blog/digital-credit-kenya-time-celebration-or-concern)

https://qz.com/768713/kenyans-got-the-better-loan-terms-they-wanted-but-banks-still-arent-ready-to-lend/https://www.mobiloans.com/terms-and-conditions; https://www.nerdwallet.com/blog/loans/mobiloans-payday-loans/https://www.mtn.co.ug/Mobile%20Money/Banking/Pages/MoKash.aspxhttps://www.moneyinminutes.in/; https://www.moneyinminutes.in/our-charges.phphttps://vodacom.co.tz/mpesa/mpawa/faqhttp://www.stima-sacco.com/index.php/mpawahttp://afritorial.com/m-pepea/; http://www.africastrictlybusiness.com/news-analysis/faba-africa-africans-m-pepea; http://www.slideshare.net/edwinmaina/welcome-to-mpepea-credithttp://www.nation.co.ke/business/MShwari-loan-charge-not-interest-CBA-tells-customers/996-3386682-3cgjj5z/; https://www.safaricom.co.ke/personal/m-pesa/do-more-with-m-pesa/m-shwari#1https://www.neogrowth.in/fair-practice-code; http://blog.neogrowth.in/index.php/2015/01/25/neogrowth-business-loan-interest-rate/http://www.dignited.com/18013/tigo-tanzania-launches-tigo-nivushe-nano-lending-scheme/http://www.safaricom.co.ke/personal/m-pesa/lipa-na-m-pesa/okoa-stima#1

91% and uphttp://www.loans.info.ke/2016/05/pesa-na-pesa-m-pesa-loans-in-kenya.html; https://www.loans.or.ke/pesa-na-pesa/http://pesapata.com/terms-conditions/http://pesazetu.co/app/howitworks.htmlhttp://www.qbera.com/personal-loans-in-bangalore.htmlhttps://www.quickcredit.in/index.php/page/faqshttp://www.quiklo.com/terms; http://www.crunchytricks.com/2016/12/quiklo-review-buy-laptops-phones-on-emi.html; http://www.gotechhero.com/2017/01/21/quiklo-review-students-can-buy-desired-products-ease/https://www.rupaiyaexchange.com/p2p-loans-india/https://www.rupeelend.com/http://getsaida.com/; https://www.loans.or.ke/saida/https://yourstory.com/2016/08/slicepay/http://sterling.sociallenderng.com/ http://solvesting.com/AboutUshttp://africa.airtel.com/wps/wcm/connect/africarevamp/tanzania/airtel_money_new/home/timizahttp://africa.airtel.com/wps/wcm/connect/africarevamp/tanzania/airtel_money_new/home/timizahttp://vote4cash.in/faqs.htmlhttp://www.worldoflending.com/https://zestmoney.in

http://earlysalary.com/faqs-salaried-applicants/; http://economictimes.indiatimes.com/small-biz/startups/earlysalary-an-app-to-avail-short-term-loans-through-smartphones/articleshow/51114062.cmshttp://ke.equitybankgroup.com/Eazzy-Loan-Terms-Conditions-Final.pdf; http://www.nation.co.ke/business/KCB-stops-three--six-month-M-Pesa-loans-after-rate-cut/996-3399690-q7l76n/

https://www.i-lend.in/how-it-works; https://www.i-lend.in/legal-agreements/loan-agreement-between-borrower-and-investor; https://yourstory.com/2012/06/i-lend-introduces-social-lending-india/

http://www.financialexpress.com/industry/banking-finance/how-indifi-technologies-helps-you-in-getting-small-loan/264668/

https://www.lendbox.in/borrowers#5; http://www.financialexpress.com/industry/banking-finance/small-loans-of-rs-5000-to-rs-2-lakhs-startups-like-cashcare-lendbox-come-to-help/238828/

https://www.mobiloans.com/terms-and-conditions; https://www.nerdwallet.com/blog/loans/mobiloans-payday-loans/

http://afritorial.com/m-pepea/; http://www.africastrictlybusiness.com/news-analysis/faba-africa-africans-m-pepea; http://www.slideshare.net/edwinmaina/welcome-to-mpepea-credithttp://www.nation.co.ke/business/MShwari-loan-charge-not-interest-CBA-tells-customers/996-3386682-3cgjj5z/; https://www.safaricom.co.ke/personal/m-pesa/do-more-with-m-pesa/m-shwari#1https://www.neogrowth.in/fair-practice-code; http://blog.neogrowth.in/index.php/2015/01/25/neogrowth-business-loan-interest-rate/

http://www.quiklo.com/terms; http://www.crunchytricks.com/2016/12/quiklo-review-buy-laptops-phones-on-emi.html; http://www.gotechhero.com/2017/01/21/quiklo-review-students-can-buy-desired-products-ease/

Country ModelIndia Bajaj FinseBajaj FinseRetail 16.00% $150.00 $1,500.00India Bitbond Bitbond P2P 42 1825 7.70% $150.00India Biz2Credit Biz2Credit P2P 11.69% 25.00%India Capital FirsCapital FirsStandard 16.00% 24.00%India Capital FloCapital FloStandard 30 365 18.00% 24.00% $1,500.00 $150,000.00India CashCare CashCare Retail 365 15.00% 25.00% $150.00 $3,000.00India Cashe Cashe Standard 15 90 $75.00 $1,500.00India Social WorEarlySalaryStandard 7 50 30.00% $15.00 $1,500.00India Fair Cent Fair Cent P2P 182.5 1080 12.00% 30.00% $450.00 $7,500.00India Finomena Finomena Retail 365 8.00% 12.00%India FlexiLoansFlexiloans Standard/R 30 365 11.99% $225.00 $150,000.00India Gyandhan Gyandhan P2PIndia i2ifunding i2ifunding P2P 0 730 12.00% 30.00% $375.00 $4,500.00India i-lend.in i-Lend P2P 182.5 1080 12.00% $375.00 $7,500.00India India LendIndia LendStandard 365 2190 11.49% 35.00% $375.00 $75,000.00India India Mon India Mon P2P 90 730 12.00% 24.00% $375.00 $4,500.00India Indifi Indifi P2P 16.00% 24.00% $1,500.00 $750,000.00India Instakash Instakash Standard 365 18.00% 24.00% $375,000.00India InstaPaisa InstaPaisa P2P $450.00 $3,000.00India Kissht Kissht Retail 90 365 5.00% 5.00% $15.00 $1,500.00India KrazyBee KrazyBee Retail 90 365 $22.49 $450.00India PayU Lazypay Retail 0 19 $37.50India Lendbox Lendbox P2P 182.5 1080 20.00% 24.00% $375.00 $75,000.00India LendDenClLendDenClP2P 90 540 12.50% 30.00% $375.00 $3,750.00India LendingkarLendingkarStandard 30 365 $750.00 $150,000.00India LoanMeet LoanMeet P2P 90 3650 12.00% 30.00% $150.00 $37,500.00India Capital Inf Money in Standard 61 90 36.50% 360.00% $75.00 $1,500.00India NeoGrowth NeoGrowtStandard 182.5 240 $3,000.00 $150,000.00India Qbera Qbera Standard 14.00% 24.00% $750.00 $7,500.00India Quick CredQuick CredP2P 1 30 $300.00 $750.00India Accel Quiklo Retail 182.5 365 15.00% 15.00% $150.00 $450.00India Rupaiya E Rupaiya E P2P 180 1080 15.00% 36.00% $75.00 $7,500.00India RuppeelenRupeelendStandard 30 36.50% 365.00% $150.00 $15,000.00India SlicePay SlicePay Retail 0.00% 20.00%India Vote for C Vote For CP2P 1 30 36.50% 109.50% $0.02 $900.00India World of LWorld of LP2P 182.5 1080 $450.00 $7,500.00India ZestMoneyZestMoneyRetail 365 1080 30.00% 30.00% $1,125.00 $225,000.00

Median 90 365 13% 25% $375.00 $6,000.00

Product Name

Product Name



Standardized APR min


Loan Minimum (USD)

Loan Maximum (USD)

Mode 182.5 365 12% 24% $375.00 $1,500.00Mean 106.88 689.9655 16% 55% $475.09 $69,343.36

Country Model APR min APR maxKenya Branch LoaStandard 14 365 $2.45 $490.00Kenya Eazzy LoanStandard 0 30 14.00% $0.49 $1,960.00Kenya Eazzy LoanStandard 60 365 14.00% $9.80 $29,400.00Kenya Get Bucks Standard 0 45 77.00% $9.80 $196.00Kenya Grow Standard 0.00% 0.00% $29,400.00Kenya KCB M-PesStandard 30 180 13.92% 13.92% $0.49 $9,800.00Kenya Kopa CashStandard 7 365 $4.90 $127.40Kenya Mjiajiri Other 0.00% 0.00%Kenya MobiloansStandard 30 60 $980.00Kenya M-Pawa SaStandard $0.98 $196.00Kenya M-Pepea Other 30 10.00% 15.00% $49.00 $147.00Kenya M-Shwari Standard 0 30 $0.98 $196.00Kenya Okoa StimOther 0 7 $0.98 $9.80Kenya Pesa na PeOther 0 7 520.00% 520.00% $4.90 $98.00Kenya Pesa Pata P2P 30 30 30.00% 30.00% $19.60 $196.00Kenya PesaZetu P2P 0 28 6.00% 10.00%Kenya Saida Standard 0 30 7.50% 10.00% $245.00Kenya Solvesting P2P

Median 0 30 9% 14% $3.68 $196.00Mode 0 30 0% 14% $0.98 $196.00Mean 13.15385 112.2857 73% 64% $8.70 $4,896.08

Product Name



Loan Minimum (USD)

Loan Maximum (USD)

Country Model APR min APR maxMultiple L-Pesa Standard 0 $1.00 $3,000.00Multiple Mkopo RahiStandard 180.00% $36.80

Median 0 180% $1.00 $1,518.40ModeMean 0 180% $1.00 $1,518.40

Product Name



Loan Minimum (USD)

Loan Maximum (USD)

Country Model APR min APR maxNigeria Aella CrediOther 30 48.00% 48.00%Nigeria Diamond Y'StandardNigeria KiaKia Standard 7 30 240.00% $32.00 $192.00Nigeria Lidya Standard $1.60 $48.00Nigeria Paylater Standard 15 30 346.00% 380.00% $32.00Nigeria Social Len Standard 30 $3.20 $32.00

Median 15 30 197.00% 240.00% $3.20 $40.00Mode 30 $32.00Mean 17.33333 30 197.00% 222.67% $12.27 $76.00

Product Name



Loan Minimum (USD)

Loan Maximum (USD)

Country Model APR min APR maxTanzania M-Pawa Standard 0 30 0.00% 0.00% $0.46 $230.00Tanzania Nivushe Standard 7 21 $9.20Tanzania Timiza CasStandard 7 28Tanzania Timiza WakOther 7 28

Median 7 28 0% 0% $0.46 $119.60Mode 7 28Mean 5.25 26.75 0% 0% $0.46 $119.60

Product Name



Loan Minimum (USD)

Loan Maximum (USD)

Country Model APR min APR maxUganda MoKash Standard 30 30 $0.00 $0.00

Median 30 30 $0.00 $0.00ModeMean 30 30 $0.00 $0.00

Product Name



Loan Minimum (USD)

Loan Maximum (USD)

Source Info Provider/Company Information

Country Describe TypeIndia http://creditvidya.com/ Credit VidyB2BIndia For women https://www.rangde.org/ Rangde 2008Multiple http://www.mo-de.coKenya, Uganda, India MODE Nano 2015Kenya yes Inuka Pap Inuka Cash 2016Kenya yes Zidisha Zidisha loa P2P, Nonpro 2009India yes http://www.fullertonindia.com/ Fullerton Fullerton Bank 2007

From Bank/MNO website?

Website URL

Non-bank/MNO source

Other website URL (if used for additional information)

Provider Name

Product Name

Year Established (Digital Credit Product)

http://www.livemint.com/Industry/A9zOtt8IIHPV3doRIQGzII/Private-agencies-devise-new-credit-score-models-for-firstti.html

http://inukapap.co.ke/Article Profilehttps://www.zidisha.org/Zidisha Team Wiki

http://www.livemint.com/Industry/A9zOtt8IIHPV3doRIQGzII/Private-agencies-devise-new-credit-score-models-for-firstti.html

http://inukapap.co.ke/

http://disrupt-africa.com/2016/08/kenyas-inuka-pap-simplifies-access-to-loans/

https://www.zidisha.org/

https://sites.google.com/a/zidisha.org/zidisha-staff/home/country-liaison-intern-guide/borrower-faqs/how-can-i-get-lenders-to-fund-my-loan-application

Provider/Company Information Product Details

digital credB2B scoring platform

noyes M-Pesa Privately Funded Safaricom/Airtel >50,000 subMobile AppApp yesyes M-Pesa P2P Website Open accouyes

Bank using alternativeonline, in online platform, can a

Partner with MNO providers or banks?

Partner MNO

Partner (Bank)

Partner (Non-bank financial instiution)

Partner (Other)

Describe if Other

Market Share Estimate (of country)

Technology channel (choices: app, internet, SMS/USSD/Sim Toolkit)

Technology channel - Describe

Mobile phone required? (y/n)

Product Details

APR min APR max Describe

noyes Varies Varies very flexibl 0 0 fee based (no interest5% startup startup feeno 12 months 48 months

Computer only product Y/N



Repayment period - Decribe

APR - Describe

Number of loans allowed

Facilitation or transaction fee?

Product Details

Describe

yes yes PINdays 100 Kshs 1000000 KsLocal banks or M-Pes yes yes National IDyes Zidisha volunteers adj"instant" 20,000 Lak (30,000 lakhs for se yes yes

Time for loan approval

Loan Minimum

Loan Maximum

Time till distribution of funds

Interoperability: is product exclusive for MNO/bank?

Uses identity confirmation?

How to confirm identity (e.g. thumbprint, passport info)?

Deliquency warnings?

Describe delinquency procedure

Product Details Product Segments

Describe Describe

yes no Airtime credit loans, remittance transfer productyes yes prepaid electricity, airtime, insurance

Zidisha volunteers adjinvestor Address, NID, Facebook linked t no no NAbank (provider) no collateral required yes SME loans

Delinquency Fee Amount

Who carries risk of default (provider, central bank, other)?

Non-performing or default loan interest rate rate

Security Checks present (payroll statement verification, balance req in mobile money account)?

Reports to credit bureaus (Y/N)?

Product combined with other DFS digital services?

Product combined with other DFS services, non-digital?

Which other services? Describe (e.g. Savings)

Airtime credit loans, remittance transfer productprepaid electricity, airtime, insurance

yes P2P

Targets urban population?

Targets rural population?

Targets men?

Targets women?

Targets low-income users?

Targets small business owners?

Targets ag?

Describe marketing/customer segments

Rewards for increased use of digital credit?

Describe rewards

Credit Scoring

Ageyes 1

yes no no 1 yes Credit Vidyyes 1

Uses own scoring algorithm?

Third party scoring?

Name of credit scoring company (third party)

Uses alternative credit data? (aka not using financial history)

Utility payment history

Mobile airtime/top-ups

MM transaction or balance data

Remittance information

Previous digital credit loans

Credit Scoring

Call logs SMS logs GPS data1 1 1

1

1 1 1

Social media data

Contact lists

Handset Details

Online Transactions

Traditional financial history

Travel history

Occupation details

Credit Scoring

Notes

For women and can be for ag, but doesn't seem to allow borrowers to freely enter. Intended for investors that want to freely enter. https://www.rangde.org/

No additional information on website Investors vet potential clients. Zidisha does no vetting

living habits

Income level

Social, demographic details

For women and can be for ag, but doesn't seem to allow borrowers to freely enter. Intended for investors that want to freely enter. https://www.rangde.org/

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