Introducing “Send Now, Pay Later” with LemFi
Oct 9, 2025
We are pleased to announce the launch of Send Now, Pay Later (SNPL), a service that combines Credit and Remittances, allowing users to use their LemFi credit line to send money home to their families when they need it most.
For the millions of immigrants who send nearly £150 billion back home annually, there is often a timing mismatch between unexpected expenses and local earning cycles. This can force them to delay important transfers home or turn to unregulated, expensive credit solutions. Since traditional remittance providers typically require immediate payment, Send Now, Pay Later aims to address this critical pain point and provide vital service to customers who are new to the country and have a limited credit history.
Ridwan Olalere, our co-founder and CEO, explained: “The rise of Buy Now, Pay Later means people across the world can buy products and stagger the payments depending on their cash flow. However, this has never been possible before with remittance, despite it being such a core part of the immigrant financial experience. With Send Now, Pay Later, we’re integrating credit directly into the remittance experience, ensuring financial support is never delayed by cash flow timing.”
Behind SNPL is our Ensemble AI model, which combines multiple data sources to inform credit decisions, including national credit bureaus, open banking data, as well as our own remittance data. The intelligent system automatically adapts to each user, factoring in their customer journey and available data to offer risk-adjusted credit with fair limits and repayment plans.
“It’s also a testament to our commitment to building a full-stack, AI-enabled financial ecosystem that understands and serves the unique challenges faced by global citizens,” he concludes.
How Send Now, Pay Later Works
- Activate LemFi Credit: Successfully onboarded customers receive a tailored credit line ranging from £300 to £1,000, depending on their credit profile and assessment.
- AI-powered assessment: The customer's financial data is reviewed across diverse data points, including remittance history, international credit history, and alternative credit assessment methods, to offer risk-adjusted credit with fair limits and repayment plans, making it even more accessible to recent immigrants.
- Credit “Visibility": Customers start with smaller credit limits and build their UK credit profile over time while accessing essential financial services.
- Send now, pay later: Customers can access their credit limit to send money to any of the 30+ LemFi-supported destination countries and repay with flexible repayment plans.
Bridging the Credit Divide
Many immigrants worldwide face challenges accessing traditional credit and banking services. Approximately five million individuals in the UK are considered “credit invisible”, with immigrants from emerging countries disproportionately affected. Research indicates that nine in 10 immigrants report that accessing credit has become more difficult in recent years, while 13% of migrants are excluded from banking services compared to just 3% of the general UK population. This exclusion creates a cascade of financial challenges that extend beyond simple access to credit. Our approach to credit assessment specifically addresses these challenges. Through SNPL, we will tackle friction points related to timing and bank transfers.
Following the UK launch, we plan to offer our expanded range of offerings to our other markets in the United States, Canada and Europe. We invite customers and other stakeholders to join us as we advance in our mission to become the world’s most trusted financial services platform for immigrants.
Related Posts
We're Making Changes.
We are making a few changes here at Lemonade Finance. We are rebranding and changing our name, which we will reveal to you soon.
The wait is over: Ghanaians in Canada can now use Lemonade Finance - The Lemonade Stand
Starting today, Ghanaians in Canada will be able to send money to the bank and Mobile Money accounts of friends and family back in Ghana for free