Flexipay is a blended financing concept, designed to help low-income families meet large financing needs, like school fees. Flexipay enables families to pool resources from their social networks transparently, pay their own bills in a flexible way, and (potentially) tap into advances for urgent payments that exceed liquid savings. This experiment was designed to test whether the concept could be an effective tool in helping families pay secondary school fees.
BFA helped to better position Flexipay to be adopted and scaled by one or more technology and payments service providers through a proof-of-concept stage, understanding actual demand from end consumers and service providers, clarifying the technical and service specifications and considering a preliminary business model for the roll-out of the product.
Photo credit: FSD Kenya