Carbon has been working with Mambu for a decade, having started life as a lender under the name of One Credit in 2012. It rebranded as PayLater in 2016 and as Carbon Finance in 2019. This offers a zero-fee account, instant loans, free money transfers, savings and investment options, and payments like airtime and bills. Mambu says its technology was selected for its “ability to scale and flexibility to disburse instant loans in minutes, helping the lender build credibility in the market”.
The capability to innovate at speed and introduce new products and features quickly is a competitive advantage for Carbon. With growing demand for split payment options among consumers, the bank launched its new BNPL product Carbon Zero to help customers get products and services in areas such as healthcare, finance, travel, and wellness.