Pay-As-You-Go (PAYG) is a technology which helps overcome the upfront price barrier of solar home systems by enabling users to divide the system cost into affordable amounts over time. PAYG software companies provide distributors with a user-friendly interface to manage and track payments, expanding the market to the lowest incomes and thus increasing sales volume. Fosera works closely together with these companies, integrating their technology in our solar home systems and allowing communication with the final user through LED lights.
THREE KEY POINTS
1 Consumers pay with a token, purchased through mobile money or through a designated local vendor to make payments on a weekly or monthly basis.
2 Flexible repayment conditions allow customers to pay from their savings or current income. Customers can transfer their spending on kerosene, candles or batteries to an entry-level solar home system. Further, users only pay when the system is working.
3 Rural customers once unreachable by the grid can get immediate access to basic electricity without having to take out a loan.