Telecom giant, MTN has partnered with Intelligra, a pioneering smartphone financing company in Nigeria. Through its latest partnership, MTN is providing its customers access to modern, internet-enabled phones via a flexible buy-now-pay-later scheme.
The scheme will allow existing MTN customers to obtain smartphones and pay the cost within 6-12 months. With this, the telecom giant aims to connect more Nigerians to the internet.
It also aims to create a Nigeria where people are not restricted from achieving their dreams due to lack of internet access.
Read Also: MTN Collaborates with Flutterwave in Mobile Money Partnership.
What is MTN saying?
Speaking on the partnership with Intelligra, Chief Marketing Officer, MTN Nigeria, Adia Sowho said,
“The partnership with Intelligra will drive financial inclusion, and digital financing devices, and make them accessible to the average man. It would also grant customers access to the internet, entertainment, and education while allowing users to communicate easily.”
Also speaking on the partnership, the CEO and founder of Intelligra Solutions Ltd, expressed confidence in the ability of the partnership.
According to him, “this partnership with MTN in collaborations with financing institutions including StanbicIBTC, VFD MFB, Personal Trust MFB, Credit Direct Ltd. and others, will help proffer a solution to the low smartphone penetration for the Africans and increase digital and financial inclusion.”
The deal also entails key partners who will offer “MTN users across the country a unique, convenient, simple, and flexible variant of BNPL with their choice of premium, quality brands, including Samsung, Nokia, Tecno, Infinix, and iTel models.“
How It Works
Although the online KYC process requires submitting a BVN number, Intelligra maintains that customers’ BVNs are collected in line with regulatory practices. Customers are however accessed for credit based on their prior behavior (e.g., airtime recharge pattern on its network).
Note that the phones are restricted to only MTN Sim/network. In the case of loan default, the phone’s functionality can be remotely disabled. The product offerings also come with customers’ being entitled to a one-time screen replacement or a phone replacement in the event of theft.
Final Notes
MTN and its partners are not just offering the regular buy-now-pay-later phones. These phones will come with embedded voice and data plans, which qualify them as wealth-creation tools.
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