Easybuy Payment Account Number Nigeria


Easybuy has become a popular way for Nigerians to purchase new mobile phones through affordable monthly installments. However, unlike traditional loan accounts, Easybuy does not operate using standard “account numbers” for repayments.

This can cause confusion for customers unfamiliar with Easybuy’s more technology-driven financing model. In this comprehensive guide, we’ll explain in detail how Easybuy’s service works in Nigeria and why account numbers are not part of the equation.

Easybuy Payment Account Number Nigeria

Introduction to Easybuy

Headquartered in Lagos, Easybuy is a fast-growing fintech company founded in 2020 that offers “Buy Now, Pay Later” financing for retail purchases, primarily focused on mobile phones.

With Easybuy, customers can spread out payment for a new smartphone over 3 to 6 month installments. This makes the latest devices more affordable compared to steep upfront costs.

Easybuy partners with mobile phone retailers across Nigeria to offer point-of-sale financing as well as providing financing directly to customers through their mobile app.

How Easybuy Works Without Account Numbers

When a customer purchases a phone using Easybuy at a retailer or on the app, here is the process:

1. Select Phone

Customer chooses their desired phone model and price point either at a partnered retailer or browsing options on the Easybuy app.

2. Apply for Financing

Customer provides key information like BVN, ID number, and contact details for an instant credit check by Easybuy. This determines the loan amount they qualify for.

3. Make Down Payment

If approved, the customer makes an upfront down payment, usually around 30% of the phone’s retail price. This reserves their phone.

4. Receive Phone

Customer takes home their new phone right away. Easybuy then sets up a repayment schedule for the remaining balance.

5. Make Monthly Installments

Over the following months, the customer repays the outstanding balance in equal installments on fixed dates via the Easybuy app, USSD, or other payment channels.

So in summary – instead of being assigned an account number, the customer’s unique identifier for repayments is their:

  • Phone number used in application
  • BVN
  • Reference ID provided upon approval

Easybuy’s systems automatically link monthly installments to the right loan based on these identifiers. This enables account numberless repayments.

Benefits of Easybuy’s Accountless Model

Easybuy’s approach brings several advantages:


  • No need to remember long account digits. Repayment channels like mobile app are intuitive.


  • Using identifiers like phone and BVN adds an extra layer of security and reduces risk of wrong account deposits.


  • Phone numbers and BVNs are universal identifiers already known, improving accessibility for those unfamiliar with traditional accounts.

Cost Savings

  • Not issuing physical account numbers results in operational efficiencies that help keep costs and thus customer fees lower.


  • Easybuy’s technology integrations allow them to add innovative repayment channels like USSD as they arise.

For a digital-first fintech provider, accountless repayments allow Easybuy to offer a smooth, efficient customer experience.

SEE How To Get Loan From Easybuy

Requirements for Repaying Easybuy Loans

To remain in good standing, Easybuy customers must:

  • Have the required amount in their bank account on the scheduled installment dates.
  • Make on-time payments via Easybuy’s mobile app, USSD, bank transfer or designated agents.
  • Keep their phone number/BVN/ID details up to date if anything changes.
  • Contact Easybuy support if repayment issues arise to avoid penalties.

Missing installments can result in late fees, disrupted phone service, and negative credit impacts that could limit future lending.

SEE How To Repay Easybuy Loan: Easy Steps

Easybuy Customer Support Channels

If customers have any questions or issues regarding payments, they can reach Easybuy support through:

  • In-app chat
  • Email: help@easybuynowpaylater.com
  • WhatsApp: +234 903 000 1023
  • Telephone support hotline: +234 1 227 9228

The Easybuy website and app also include extensive FAQs on managing your account, making repayments, eligibility criteria and more.

The Future of Digital Credit in Nigeria

Easybuy represents the vanguard of digital-based lending in Nigeria. By leveraging alternative data sources, innovative repayment channels and automation, Easybuy can offer financing to broader consumer segments compared to traditional banks.

Many expect services like Easybuy to continue disrupting Nigeria’s credit industry thanks to their technology-enabled underwriting, ease of use, and flexibility.


In summary, Easybuy is pioneering more accessible financing for device purchases in Nigeria by using alternative identifiers like phone numbers instead of traditional account numbers.

This innovative approach creates a smooth “Buy Now Pay Later” experience that aligns with mobile-centric consumer preferences. Understanding Easybuy’s accountless repayments model can help you take advantage of flexible financing for your next smartphone purchase.

Let me know if you have any other questions!

Frequently Asked Questions

Here are some common questions about Easybuy’s service:

Do I need a bank account to use Easybuy?

Yes, you need an account to deposit funds for making your monthly repayments.

What happens if I change my phone number?

Inform Easybuy immediately to update your details and avoid repayment issues.

Can I repay faster than the installment schedule?

Yes, you can pay off the full outstanding balance early with no pre-payment penalties.

What happens if I miss a repayment?

Your account will be flagged which may limit your phone functionality. Late fees and penalties may apply.

Can Easybuy terminate my plan early?

They reserve the right to terminate in cases of contract breaches like extreme delays in repayments.

Let me know if you have any other questions!


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