LemFi Merges Credit and Remittance with AI-Driven ‘Send Now, Pay Later
LemFi uses AI in its credit system to power the “send now, pay later” feature, providing timely financial support to UK-immigrants.
LemFi Merges Credit and Remittance with AI-Driven ‘Send Now, Pay Later
The financial technology company that allows over 2 million immigrants to easily send money across the globe— LemFI —has launched “ Send Now, Pay Later ” (SNPL)—a remittance service that embeds credit into money transfers for Africans living in the United Kingdom (UK). The LemFI's SNPL is an artificial intelligence-powered remittance service that lets immigrants in the UK send money home instantly and pay later. This is a first-of-its-kind remittance product that allows cross-border payments on credit. Many UK immigrants send about £10 billion abroad each year, but mismatched pay cycles and urgent family needs often create cash-flow challenges. In fact, traditional remittance services are demanding for upfront payment. But now, everything has changed; LemFi’s “SNPL” offers a lifeline—letting newcomers with limited credit history send funds instantly and settle the balance later. Under SNPL, eligible users can get credit lines between £300 and £1,000 to send funds home immediately, even i…
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Independent journalist covering tech, business, finance, and science | BSc Accounting student | He founded FinNG
