Question 1

What is NeoCash and how does it work?

Accepted Answer

NeoCash is a Lagos-focused digital lending app from Shepherd Trust Microfinance Bank that provides unsecured personal and business loans, plus a buy now, pay later option for merchants. You apply through the mobile app in about 5 minutes, submit basic documents, and if approved your loan is disbursed to your bank account, while merchants using Pay Small Small get paid upfront as customers repay in instalments.

Question 2

How much does NeoCash cost?

Accepted Answer

NeoCash does not charge upfront or late fees, instead you pay interest on the loan amount with risk-based rates typically around 2.5% to 5% per month. The total cost of your loan depends on your approved amount, tenor (61 days to 12 months), and your individual risk profile.

Question 3

What countries does NeoCash operate in?

Accepted Answer

NeoCash operates in Nigeria and currently lends only to residents of Lagos State. You need to live in Lagos to qualify for its loan products.

Question 4

How do I sign up for NeoCash?

Accepted Answer

To sign up, download the NeoCash app on Android or iOS, open it, and create an account with your personal details. You then complete a loan or merchant application by providing required information like your bank details and supporting documents so Neocash can assess your eligibility.

Question 5

Does NeoCash have a mobile app?

Accepted Answer

Yes, NeoCash is available on iOS and Android. You can download Neocash on the App Store for iPhone, or get it on Google Play for Android.

Question 6

Who is NeoCash best suited for?

Accepted Answer

NeoCash is best suited for Lagos-based salary earners and self-employed traders or microbusiness owners who need unsecured short to medium term loans. It is also suitable for Lagos merchants who want to offer customers instalment payments through the Pay Small Small checkout while receiving full payment upfront.

Question 7

How do I contact NeoCash support?

Accepted Answer

You can contact Neocash support by email at hi@neocash.ng. They also advertise 24/7 customer care, and additional contact options may be available inside the mobile app.

Question 8

Does NeoCash have a plan for teams or businesses?

Accepted Answer

Yes, NeoCash serves businesses through its business loan offerings and the Pay Small Small merchant product. Traders, microbusiness owners, and other merchants can apply for business financing and integrate Neocash as an instalment payment option at checkout.

Question 9

What popular product is NeoCash an African alternative to?

Accepted Answer

NeoCash is an African-built alternative to Affirm, Afterpay, and Klarna.

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