MTN Nigeria, in partnership with Intelligra, an open platform for smartphone financing, Stanbic IBTC, and Slot Distribution Company, is bringing a device financing partnership to MTN customers, allowing them to access smartphones of their choice without having to pay for the full cost of the smartphone.
According to the partnership agreement, which was announced yesterday at a press conference in Lagos, the smartphone device comes with a monthly bundle of voice call and data plan, such that the cost of the smartphone device will be spread over a period of time, allowing the customer to pay a certain amount for the voice call and data plan, which ranges from N7,000 to N18,100 per month, depending on the plan that the customer subscribes to.
This collaboration aims to provide individuals with the opportunity to own a smartphone with the option to “buy now, pay later.”
Speaking at the launch event, the Chief Marketing Officer, MTN Nigeria, Adia Sowho, said, “Smartphones have become the computer for many Nigerians today.
“Unfortunately, the high costs of these devices have made them out of reach for many. Factors such as forex fluctuation, chipset shortages, and inflation are continuously driving up the cost of phones.”
She added, “Through this initiative, we have financed over 20,000 devices. With the launch of 5G, MTN is deepening its partnership with Intelligra to drive 5G mobile device growth.
“By 2023, we want to achieve 1,000 units of devices daily transactions even as we onboard more outlets, especially in the North.”
Chief Executive Officer of Intelligra, Mr. Tayo Ogundipe, said the partnership, which officially started in January this year, had finally been sealed to offer credit access to Nigerians to own a smartphone device of their choice, without making a one-off payment, which might be too expensive for many Nigerians.
“The idea of smartphone financing is not just to sell the MTN broadband data, but to enhance digital and financial inclusion by making it easier for MTN customers to own a smartphone and tool that will help them shape their social media lifestyle, and enable them innovate and have business lifestyle of their choice. The total package comes with a smartphone device, monthly voice and data plan and other value added services,” Ogundipe said.
How will the device financing scheme work?
MTN and Intelligra’s take on buy now, pay later is a little different than you might expect. MTN customers can get a smartphone of their choice by subscribing to any MTN bundle plan for as little as N7,000. New smartphone owners can spread their payments over 6 to 12 months.
Subscribers can also get a one-time free screen replacement if their screen breaks or a one-time free phone replacement if their phone is stolen, as long as they have an active and current subscription. The offer includes monthly data allowance and voice call minutes, tenor periods (up to 12 months), an increased financed amount (up to N500,000), and device theft and screen damage protection.
Customers interested in participating in this offer can check their qualification status at participating stores or on the MTN and Intelligra websites.