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 afordable amounts over time.
PAYG comes 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 3 software companies and has integrated their technology in our solar home systems.
PaygOps, Solaris Offgrid SaaS Software, connects energy and utility appliances, payment methods (mobile money) to a suite of enterprise applications (SaaS) or to API services (PaaS) allowing the smooth management of Pay-as-you-go (Paygo) lease financing and field operations while providing key financial data and metrics to investors into this market.
Consumers pay with a token, purchased through mobile money or through a designated local vendor to make payments on a weekly or monthly basis. Once the customer stops paying, the system will shut automatically off.
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.
Rural customers once unreachable by the grid can get immediate access to basic electricity without having to take out a loan.
Since the customer will only pay if the system works, PAYGO ensure a good after-sales-service and long-term success of rural electrification projects.