CedisPay is focused on providing quick and accessible financial services to individuals and businesses that meet specific criteria. The company targets business owners with stable operations and locations, who consistently pay their bills or loans, use mobile money accounts to pay for business inventory and expenses, and have a track record of good savings habits. Additionally, CedisPay targets salaried workers with stable employment and a history of consistently paying bills or credit, and good savings habits.

Mandatory Qualities

The following mandatory qualities must be met:

1. Customers must have a mobile money account that can be used to receive and repay the loan
2. Customers must consistently pay bills (utilities, rent, postpaid goods and services, association dues, etc.) and credit from financial institutions on time
3. Customers must use their mobile money account for both personal and business transactions
4. Customers must keep records of their business activities or provide reference descriptions on their mobile money statements
5. Businesses must have a specific location that they have been operating from for at least three months
6. Businesses must have at least 20 business transactions per month
7. Salaried workers must have been employed by their current employer for at least three months
8. Customers must have a smartphone with internet access to perform loan applications, provide loan documents and interact with CedisPay using digital channels

Additional Qualities

In addition to these mandatory qualities, CedisPay prefers to work with businesses that meet the following criteria:

1. Businesses that trade in fast-moving, non-discretionary consumer goods, and operate in sectors less sensitive to economic conditions are preferred
2. Businesses that regularly stock inventory and can convert inventory to cash sales in not more than 15 days are preferred
3. Consistently savings habits

CedisPay targets customers who are financially responsible, have a stable income and have a track record of repaying loans on time. The company prefers customers who use mobile money accounts for financial transactions and those who are comfortable using digital channels for loan applications and interactions. The additional qualities are aimed at businesses that are more likely to be successful and profitable, making them better candidates for CedisPay's financial services.

CedisPay Target audience for personal loans

1. Demographics: 18-60 years old, employed full-time or self-employed, earning at least GHS 1,000 per month, basic education requirement and single or married males and females.
2. Psychographic segmentation: Values financial stability, independence, and growth. Has a positive attitude towards technology and online services. Has a busy, ambitious, and tech-savvy lifestyle.
3. Behavioral segmentation: Has a history of paying bills on time, uses mobile banking or online banking services, uses a mobile money account for personal transactions, has a savings account, and regularly saves money. Has a history of taking out loans and consistently pays bills. Has been employed with current employer for at least 3 months.
4. Interests and Behaviors: Interested in financial products and services. Active on social media and online platforms. Follows financial and business news.
5. Job titles and industries: Professionals in business, finance, technology, and healthcare. Self-employed entrepreneurs and small business owners.
6. Online behavior: Active on social media and financial websites. Uses mobile banking or online banking services. Regularly searches for financial products and services online.

CedisPay Target audience for business loans

1. Demographics: at least 18 years old, self-employed or small business owners earning at least GHS 1,000 per month, no education requirement, and single or married males and females.
2. Psychographic segmentation: Values entrepreneurship, self-reliance, and growth. Has a positive attitude towards technology and online services. Has an ambitious, hardworking, and tech-savvy lifestyle.
3. Behavioral segmentation: Has a history of paying bills on time, uses a mobile money account for business transactions and may use mobile banking or online banking services, has a savings account, and regularly saves money. Has a history of taking out loans and consistently pays bills. Has been in business for at least 1 year. Has been operating in the current location for at least 3 months, has a mobile money account for at least 3 months, and at least 5 business transactions on their mobile money account in a month. Has good cash flow.
4. Interests and Behaviors: Interested in financial products and services for small businesses. Active on social media and online platforms. Follows financial and business news. Follows news and trends related to their industry.
5. Job titles and industries: small business owners and entrepreneurs in various industries such as retail, services, construction, and manufacturing.
6. Online behavior: Active on social media and financial websites. Uses mobile money account. Uses mobile banking or online banking services. Regularly searches for financial products and services online for small business. Actively seeks ways to improve and grow their business.