Project Summary

Smartfric designed and built MYDAY, a revolutionary mobile application that enables users to access short-term digital credit fromt selected vendors. The app provides instant access to goods and services without upfront payment, while vendors receive guaranteed payouts through MyDay’s integrated financial infrastructure.

MYDAY is designed to empower consumers, support small businesses, and promote financial inclusion by providing a fast, transparent, and automated credit journey.

Client Challenges

The retail ecosystem faces several gaps:

1. Consumers often lack quick access to emergency funds
2. Small vendors lose sales when customers cannot pay immediately
3. No unified credit decision system for low-income customers
4. Manual or informal credit arrangements are high-risk
5. Vendors lack tools to track credit customers and repayment

MYDAY was created to solve these challenges with a secure, automated digital credit system.

Solution Delivered by Smartfric

Smartfric developed MYDAY as a complete ecosystem integrating mobile app technology, credit scoring, digital payments, and vendor management.

1. MYDAY Mobile App for Consumers

The app allows users to:

1. Register and create an account instantly
2. Access approved credit limits
3. Shop at selected vendors and pay later
4. Manage repayments directly in the app
5. View credit history, invoices, and limits
6. Receive reminders and notifications

2. Vendor Portal + POS Integration

MYDAY supports vendors with:

1. Digital customer verification
2. Real-time credit approval
3. Receipt issuance through the vendor portal
4. Automatic settlement after sale
5. Dashboard for tracking sales, repayments, and customer activity

3. Seamless Credit Application & Approvals

The system provides:

1. Automated credit scoring
2. Intelligent approval workflows
3. Tiered credit limits based on data and history
4. Instant vendor payout

This allows customers to access credit within minutes—no paperwork required.

4. Integration With Smartcore

Smartcore acts as the financial engine powering MYDAY:

1. Credit account creation
2. Repayment schedules
3. Interest calculations
4. Wallet management
5. Real-time ledgers and reconciliation
6. Reporting and analytics

Everything syncs automatically in the background.

5. Secure Digital Payments Ecosystem

The app integrates with payments channels to support:

1. Mobile money repayments
2. Wallet-to-vendor settlements
3. Automated reconciliation
4. Instant payment notifications

6. In-App Communication & Notifications

Built-in communication features include:

1. Due date reminders
2. Vendor promotions
3. Credit limit updates
4. Transaction confirmations

Keeping customers fully engaged.

Impact & Results

The MYDAY solution unlocked major improvements for both customers and merchants:

1. Increased vendor sales due to credit-enabled purchases
2. Improved customer access to essential goods
3. Reduced credit risk through automated scoring and repayment tracking
4. Digital audit trails replacing informal lending
5. Seamless, fast credit approvals
6. Strong financial inclusion impact for low-income earners