Spredda Buy Now Pay Later: What It’s All About

In today’s fast-paced world, online shopping has become a popular trend. However, not everyone has the means to make immediate payments for their desired purchases. This is where the “Buy Now Pay Later” (BNPL) services come in handy. One of such installment services that is  gaining popularity in Nigeria  is Spredda Buy Now Pay Later. The platform has a user-friendly approach and flexible payment options that can help you to meet your purchasing even when you don’t have the cost amount. Spredda offers a convenient solution for consumers to make purchases without any upfront payment.

Spredda is one of the popular Nigerian digital platforms that allows their users to purchase different products like mobile phones, furniture, laptops, generators, fashion and beauty items,  home appliances, electronics, sports and fitness equipment and defer the payment to a later date.

What is Spredda Buy Now, Pay Later?

Spredda Buy Now Pay Later

Spredda Buy Now Pay Later plan is a financial service that allows consumers to make purchases and pay for them in installments over time, without any interest or fees. It is a convenient alternative to traditional credit cards, offering more flexibility and control over personal finances. Spredda partners with various online retailers like Payqart to provide customers with the option to choose BNPL at the checkout. By splitting the total cost into smaller, manageable payments, Spredda enables customers to buy products they desire without the immediate burden of payment.

How Does Spredda BNPL work?

Spredda BNPL is a simple and straightforward process. After signing up for a Spredda account, customers can search  through their partner websites(Lay-by and PayQart) and select the items they wish to purchase. At the checkout, they can choose Spredda as their payment option. Spredda will assess their eligibility and determine the installment plan details, including the number of payments and payment amounts. Once the purchase is completed, customers receive their products right away, while the payments are spread out over time. By logging into their Spredda account, customers can track their payments, manage their purchases, and even make early repayments if desired, which will further build your reputation.

In other words, Spredda partners with third party consumer finance institutions which are Payqart and  Lay-by to allow their customers to take possession of their orders immediately and defer the payment on installments for over a period of four to six months depending on the plan you opt for..

What happens is that Payqart or Lay-by permits people or entity(ies) that are employed(self employed, salaried employees etc) in Lagos to take possession of their orders placed on Spredda which is worth N50,000 and above and defer the payment. This means that if the order you placed on Spredda or Lay-by is not worth N50,000 and above, you won’t be able to access Payqart or  Lay-by financing.

When you opt for the PayQart option, you will be allowed the possession of your items and you will repay the loan within six months but it attracts interest charges if you fail to repay within six months. 


When you choose Lay-by at checkout, it doesn’t attract interest but they will keep custody of your goods for about 3 – 4 months till you complete the payment. However, before Lay-by can reserve the product for you, you must have made a 20% down payment of the product’s cost price.

If you wish to use Spredda, all you have to do is to select Payqart at checkout since they do the financing. Once you choose Payqart at checkout, follow the onscreen instructions. At this point, if your order is approved, PayQart will pay Spredda on your behalf and your product(s) will be shipped to you within three to five working days while you will repay your monthly payment to the PayQart account. However, there are terms and conditions regulating these transactions, hence it is best to understand it before opting for their service.

Spredda Buy Now Pay Later Requirements

To  be eligible to access buy now pay later offer of Spredda, there are requirements you must present, they include:

  • You are expected to provide valid means of identification like National ID card, Voter’s card, Driver’s license, International passport etc.
  • You must have your Bank Verification Number(BVN) handy.
  • You will be required to present your employment letter or work ID card.
  • Your six month salary bank statement will also be needed.

Benefits Of Using Spredda BNPL

There are numerous benefits that customers stands to enjoy by using Spredda buy now pay later plan, they include: 

1.  Convenience

Spredda BNPL eliminates the need for upfront payments, providing customers with a convenient and stress-free shopping experience. It allows individuals to acquire products without breaking the bank or disrupting their monthly budgets.

2. Flexibility 

Spredda offers flexible payment plans tailored to each customer’s financial capabilities. By splitting payments into smaller installments, individuals can spread the cost of their purchases over time, making it easier to manage their expenses.

3. Interest-free And Transparent

Unlike traditional credit cards, Spredda BNPL does not charge any interest or hidden fees. Customers only pay for the actual cost of the product. Spredda ensures transparency in its payment terms, which would invariably allow customers to make informed decisions.

4. Budgeting Assistance

Spredda provides users with a clear overview of their payment schedule, helping them plan their finances effectively. It empowers individuals to make responsible purchase decisions while maintaining control over their spending.

Is Spredda BNPL Right For You?

Spredda BNPL is ideal for people(s) who prefer the flexibility of paying for purchases over time, without the burden of immediate payments. It suits those who are on a tight budget or have irregular income streams. However, it’s important to remember that while Spredda BNPL can be a convenient option, it’s essential to use it responsibly. Before making a purchase, consider your financial situation, ensure you can afford the installments, and review the payment terms. Ensure that you will make payments on time to avoid any late fees.


Spredda Buy Now Pay Later has emerged as a popular alternative to traditional payment methods. With its convenience, flexibility, and transparent terms, it has positively changed the way people shop. By allowing customers to make purchases without any upfront payment and spreading the cost over time, Spredda offers a practical solution for individuals with varying financial needs. However, it’s vital for you to approach BNPL services responsibly and assess personal financial circumstances before committing to any purchases.

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