MTN Ghana has partnered with Mobile Money Ltd and Access Bank Ghana PLC to launch a device financing service for its customers. Named “MTN Pick and Pay Later,” this initiative allows customers to select a smartphone, make an initial payment, and pay off the remaining balance in instalments over either four or six months via MoMo.
The smartphone options available to customers will depend on their creditworthiness, assessed through a credit scoring engine on the MTN network. To access this service, customers can dial *170#, select Financial Services, and choose “Device Pick and Pay Later” under the Loans section.
Mr. Noel Kojo-Ganson, Chief Commercial Officer for MTN, emphasized the company’s commitment to ensuring that everyone benefits from a modern, connected life, including access to high-speed internet through quality smartphones. He noted that this initiative is designed to assist customers who desire smartphones but face financial constraints for upfront purchases. The collaboration with MobileMoney Ltd and Access Bank is crucial for reducing communication costs.
Access Bank will provide financing options that enable customers to purchase smartphones capable of accessing digital banking services, ensuring they remain connected online. This partnership aligns with the bank’s objective 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 significance of this initiative: “Only 13% of the eligible population have access to borrowing, leaving a substantial gap for those who qualify but lack access to finance.” She added, “This partnership reflects Access Bank’s vision of delivering innovative solutions to the markets we serve, empowering individuals to support their lifestyles in an increasingly digital world, all through the convenience of a mobile phone.”
The “Pick and Pay Later” service is supported by additional partners, including Hollard Insurance, PaySwitch, and Atlantic Phones, all of which contribute various services to enhance the customer experience.
With a diverse range of smartphone options—from entry-level to mid-tier 4G devices—the MTN “Pick and Pay Later” service aims to meet customer needs and support their ability to transact anytime, anywhere. Through this financing initiative, MTN Ghana, Access Bank, and their partners are committed to reaching the unbanked population and promoting the adoption of digital financial solutions.
Source: mywordfmonline.com/Gaspard Ayuureneeya.