Sevi is a Buy Now, Pay Later product financing option offered by Sevi Innovation Ltd to enable sellers to sell their products on Sevi credit by allowing their customers order the products they want now, but pay later.
How To Qualify For Sevi Financing
Below are the requirements needed before an applicant can make use of the Sevi Buy Now, Pay Later service. They include;
– Must be 18 years and above
– Possess a valid verification document such as ID card
– Possess an active phone number
Does Sevi perform a credit check? Yes
How To Register & Apply For Sevi Financing
Download, install and launch the Sevi app from the Playstore
Enter your mobile phone number to receive a 6-digit verification code via SMS
Input the verification code to proceed to the next phase which can be completed in 4 simple steps
Step 1: Enter and verify your email address
This step requires you to input your valid and active email address upon which a verification link will be sent. Clicking on the link will direct you to the email verification page notifying you that your email has been successfully updated.
In addition, you will also receive an email verification badge via SMS
Step 2: Take a selfie
This step requires you to update a profile picture by taking a picture of your face. Depending on your phone model, you can use the ‘flip’ button to choose either the front or back camera since the app does not allow uploading from the phone gallery.
Step 3: Scan ID card
In this step, you need to scan the front of your ID card for identity verification purposes.
Confirm the accuracy of the information provided. If inaccurate, use the ‘Edit data’ tab to edit and if accurate, use the ‘Information correct’ tab to proceed
Step 4: PIN generation
Create a 4-digit PIN to complete the registration procedure.
Note: Before you can transact via the app, you are required to create an account
How to create a company account.
Click on the top tab in order to access the ‘Add new account’ option.
Click on ‘Add new account’ and choose your preferred account type i.e
– Company account: involves managing your company orders through buying/selling products/services
– Group account: involves managing group finances
Proceed to select the first option (company account) by tapping on the ‘Start’ button underneath it.
This procedure will require a 3-step process as outlined below
Step 1: Company currency
Click on the flag icon to select your company currency
Step 2: Company objective
Decide whether your company will be buying/selling on the Sevi platform by choosing either ‘Yes’ or ‘No’ options
Step 3: Company KRA PIN
Enter your company KRA PIN
The above process creates a company account via the Sevi platform. However, the company needs to be verified so as to allow transactions. This can be done by;
Clicking on the ‘Verify company’ tab
Enter the company’s physical location
Enter your company’s bank account information
Upload your company’s official documents such as CR12, Certificate of Incorporation, KRA PIN certificate and signed commercial framework & agreement.
Upon completion, your application will be reviewed and verified through a physical visit to the company location provided. Upon successful verification, you will now be able to use the Buy Now, Pay Later service.
Sevi Credit Limit Amount, Interest Rate And Repayment Duration
Sevi offers 4 options of payment plans which include; direct pay, daily, weekly and monthly installments whereby allocation is dependent on CRB rating, size of loan group and credit history.
How To Repay Sevi
Repayments can be made via the Sevi app by clicking on the ‘Installments’ tab to access the installments overview which shows the installments and due dates.
Click on your preferred installment then tap on the ‘Pay’ button alongside it.
How To Contact Sevi
Tel: +254 743623754
Categories: Buy Now Pay Later - Kenya
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