•Smart mobile devices will now be more accessible to customers through affordable monthly instalments.
•Consumers can pay for the same in up to 12 monthly instalments.
The uptake of smartphones continues to grow with more people getting to appreciate the advantages of having access to the Internet in the palm of their hand.
Technology firm Telkom, and Buy-Now-Pay-Later company Lipa Later, have partnered to offer Kenyans a product financing solution that will make it easier to purchase smart mobile devices.
With the partnership, both companies are looking to make these devices more accessible to consumers through affordable monthly instalments.
“We are excited to announce this partnership as it speaks to our belief that access to Mobile Data is a fundamental human right. This is due to its strategic potential to progressively address digital inclusion; ensuring the benefits of the Internet and digital technologies are available to more Kenyans, consequently empowering the digital economy,” Telkom CEO, Mugo Kibati said.
According to the Global Systems for Mobile Communications Association (GSMA), there is ample opportunity for the mobile industry and ecosystem players to improve smartphone affordability among these consumer segments.
“We want to enable our customers to have access to a wide range of authentic products and services, affordably and conveniently. Through this partnership with Lipa Later, our customers will also be able to enjoy affordable Mobile Data through our products.”
Lipa Later CEO, Eric Muli said that consumers can walk into any Telkom store, sign up with Lipa Later, get a credit limit in less than 5 minutes, pick a device of their choice at zero deposit, and get connected to mobile and data services, and pay for the same in up to 12 monthly instalments.
“Additionally with our integration with UzaPoint, the process at the checkout till will be seamless for the consumer across all the Telkom outlets in the country,” Muli said.
Through this partnership, consumers will be able to access select phones from brands such as iPhone, Nokia, Oppo, Realme, Tecno, Ulefone, Vivo, Xiaomi, Huawei, Bontel and Itel.
Retailers are now offering Buy Now Pay Later solutions that enable their customers to purchase essential goods by choosing an affordable financing plan and paying in instalments instead of the entire cost all at once.
The increase in the adoption of online payment methods across developing nations is also accelerating the growth of the buy-now pay-later payment market.