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MTN Ghana offers device financing to its clients through partnerships with Access Bank Ghana PLC and MobileMoney Ltd. With this new service, “MTN Pick and Pay Later,” customers can choose a smartphone, pay a down payment, and then use MoMo to pay off the remaining amount in instalments over four or six months.
Customers’ creditworthiness, which is evaluated using a credit scoring engine on the MTN network, will dictate the smartphone selections they can choose from. Customers can use this service by dialing *170#, selecting Financial Services, and then selecting “Device Pick and Pay Later” from the Loans menu.
Mr. Noel Kojo-Ganson, the Chief Commercial Officer for MTN, emphasized the company’s belief that everyone deserves the benefit of a modern, connected life, including having a good smartphone for high-speed internet services. He noted that this initiative is intended to help customers who want smartphones but may have limited cash for upfront purchases. The collaboration with MobileMoney Ltd and Access Bank is important for reducing communication costs.
As part of this collaboration, Access Bank will offer financing options for customers to purchase smartphones that enable access to digital banking services, ensuring they can stay connected online. This partnership aligns with the bank’s goal of promoting financial inclusion and supporting a cash-light economy, making it easier for customers to afford smartphones and access digital services.
Matilda Asante-Asiedu, Group Head of Retail Banking at Access Bank Ghana, highlighted the importance of this initiative: “Only 13% of the eligible population have access to borrowing leaving a substantial gap for those who qualify but do not have access to finance.” She added, “This partnership reflects Access Bank’s vision of providing innovative solutions to the markets we serve, empowering individuals to support their lifestyles in a world that is rapidly becoming more digital, all through the convenience of a mobile phone.”
Other partners that offer a variety of services to improve the client experience, such as Hollard Insurance, PaySwitch, and Atlantic Phones, support the “Pick and Pay Later” service.
The MTN “Pick and Pay Later” service offers a variety of smartphone alternatives, ranging from entry-level to mid-tier 4G phones, with the goal of satisfying customers’ demands and facilitating their capacity to transact at any time and from any location. MTN Ghana, Access Bank, and its partners are committed to addressing the unbanked population and encouraging the use of digital financial solutions, which is why they are funding these devices.
Source: Ghanatodayonline.com
