Card Pesa
Card Pesa
The Card Pesa Ethos

Ethos is an argument that appeals to the audience by emphasizing the speaker's credibility and authority.

When we talk about our ethos we are explaining what we believe and how we work that sets us apart from all other financial services providers in the sector.

We have successfully run the first month after the Covid lockdown and we are proud and thankful that as a business we are still viable.

During this month our staff has made an effort to reach out to as many of our clients as possible to find out how they are doing and see how best to mitigate any challenges that some may have found.

As a result of these communication we have endeavoured to understand more intricately what our clients are doing for their livelihoods and see where their earnings are coming from so we can appropriately find credit limits that suit them and will work for them.

Key to assessment of any client is trying to determine whether a client will afford the credit we will provide them with and so many were asked for more details about their different sources of income and what activities they carry out on a monthly basis that provide revenue to them.

From the information we have gathered and from the results we are seeing on the platform we can now gauge what most of our clients capacities are.

A question that keeps coming up time and time again especially when clients pay is why isn't my credit limit rising and we have clients who from time to time put in special requests for particular limits.

It has therefore become important for us to educate our clients on how the system determines what a limit should be.

To quickly answer this question we bring it down to whether with the information we have about a client we are comfortable that the client will be able to pay back the limit being requested based on their information provided, passed record and the performance of those we can link to them on the platform.

If during the interviews and communication you did not provide proof of income either by bank or mobile statement and when asked what your projections for the month look like, you couldnt tell us clearly, then your requests for higher limits will most likely not go through.

Since we provide a revolving line of credit whereby our credit once paid today can be taken anytime again during the year a client is subscribed, then we advise that our advances should be best used to engage in enterprise in which the returns/profits will be many times greater than the cost of the advance.

To put it simply if you are a boda boda rider, our credit should not be used to buy the boda, insure the boda or other capital costs.

It should be used to ensure that the rider is healthy so they can work, repair the boda so it is functional but most importantly, it should be used to fuel the boda so the rider can be guaranteed to earn his income for the days work.

Because we are cognizant of the cost of our advances, when evaluating a client, we do not provide multiples of their projected revenue but fractions of their projected revenue to be used to fund the most vital activities of enterprise.

We believe that with this strategy we keep our clients in business and ensure that as they grow we also grow with them.
Card Pesa
Card Pesa
The future of credit

One of our core beliefs as a business is that in the near future most if not all commercial transactions will be digital.

The article below gives an insight to the growth of mobile money and the number of accounts in question which is what we believe in the short to medium term will be the channel through which we will service our market.

We also know that there is an underserved market of people who have access to mobile money and do not have bank accounts and the setup of banks as they are now do not work for these people which we feel is the majority of the working population.

Our belief is 80% of the working adults engaged in economic activity are not in formal employment, transacting through formal enterprise and are most likely to engage in more activities than their formal employment from which they derive sustenance.

We as Card Pesa want to be the financial provider of choice for the two groups mentioned above.

To do that we are investing heavily in using data and client interactions to understand the economic habits of our clients and tweaking our platform to service clients based on their individual and group circumstances.

We will therefore be reaching out time and again on all our communication channels to all our customers in a bid to intricately understand their business and personal needs and from that information we can see how to conveniently design products that serve them better as the system will then have more data points to determine how much credit to give.

As we go through this trying time please feel free to interact with us on any of our communication platforms to help us know as much about your economic activity as possible so that that forms the basis of how we service you.

It's mostly through the above interactions that we will build a strong foundation for future mutual operation.
Card Pesa
Card Pesa
Step into the future

If you are to understand what we are about and the opportunity we represent please watch the video below.

Imagine a world where you will be able to borrow for 24 hours or even for hours or do business at scale in seconds enabled by digital payments.

The future of finance is coming from Asia and Africa because we are not hamstrung by legacy technology so the future is here with us.

Every day we make small steps to get us into what we feel is a massive future of opportunities for those who believe in us and join us.
Card Pesa
Kids creating the future bank | Chris Skinner | TEDxAthens
Our children and our children’s children, or Gen Y millennials and the Gen Z teenagers, are reinventing finance with code. What world of finance do they want...
Card Pesa
Card Pesa
Covid 19 has presented challenges for our platform unlike anything we could have envisioned or prepared for.

We have therefore waited for guidance from our regulator on how to deal with these challenges that have resulted from the lockdown in terms of how it has affected clients and how it has affected our ability to provide the same level of service we had set out to provide for all clients on the platform.

Please see the guidance provided by UMRA below

Based on the above guidance and the need to be sure that we do not adversely affect the livihood of our clients at a point when many are not involved in economic activity we will be getting in touch with each client on the platform to determine how the lockdown has affected them before we advance credit.

Our role here would be to confirm that the details provided on the platform pre-lockdown are the same as post lockdown and that we are able to ensure that clients still have the capacity to meet their obligations on the platform as predetermined.

We are also not going to charge late fees for the period of the lockdown. We however will change our interest rates for all future advances so that the fund from which we advance credit is not too adversely affected by the loss as a result of this action.

We are aware that many would like to get advances during the lockdown. Our belief is that as soon as the lockdown is over and each client can assess what their working capital needs would be would be the best time to access credit and restart automated lending.

That is what we are preparing for and we pledge to fund recovery as soon as the lockdown is lifted.

Stay Home and Stay Safe
Card Pesa
Card Pesa
Its during times like these that we focus on why organisations like ours have to survive and thrive.

As a result of the current worldwide pandemic what is clear is that the movement towards digital banking and transactions in an era where a virus can be spread through use of cash is ever so crucial

We at Card Pesa will continue to service all clients who are on our platform and will grow it to meet the challenge the current situation presents for us and our clients.

Stay safe. Wash your hands
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