LayUp Technologies CEO, Andrew Katzwinkel, Discusses the Impact of Save Now, Buy Later in Africa

Financial Inclusion Africa recently hosted Andrew Katzwinkel, CEO of LayUp Technologies, a fintech startup revolutionizing the prepayment market with its innovative “Save Now, Buy Later” (SNBL) model. During the discussion, Andrew spoke on the topic “How Save Now, Buy Later is Empowering Consumers and Transforming the Prepayment Market in Africa.”

In his introductory speech, Katzwinkel explained that the SNBL model allows consumers to spread the cost of a purchase into manageable, interest-free payments, with no need for credit checks. According to him, this model helps consumers who struggle with credit access or affordability issues and offers a sustainable and ethical approach to fostering financial inclusion across Africa.

He shared that the inspiration behind SNBL came from his personal experience in his early twenties when he and some members of his family, faced financial challenges when trying to purchase an item. This led him to create a product that helps consumers save systematically for purchases while avoiding the burdens associated with credit.

When asked about the key benefits of SNBL, Katzwinkel emphasized that the absence of credit checks removes a significant barrier for consumers who lack the necessary Know Your Customer (KYC) documentation to apply for credit. He also highlighted that SNBL encourages healthy saving habits, rewarding consumers with incentives or cashback, which provides them with extra spending power.

Regarding financial discipline, he noted that SNBL helps consumers avoid debt by fostering a savings culture. Alos, he disclosed that the model builds strong customer relationships, with 1 in 3 customers returning to use the system again. This, he believes, reflects the trust and satisfaction consumers find in the service.

On the topic of financial inclusion, Katzwinkel stressed that SNBL is playing a critical role in bridging the affordability gap, offering consumers access to the products they need while benefiting merchants with guaranteed prepayments.

Looking ahead, he expressed confidence in the growth of the SNBL model, predicting that it will expand significantly across Africa and continue to transform how consumers approach savings and payments.