Shop now and pay later with Vodacom’s cost-efficient new lending scheme

Vodacom has announced the roll out of Voucher Advance, an innovative lending scheme that essentially widens the scope of financial inclusion to millions of unbaked local consumers through their mobile phones - and equally so to customers looking for cost-efficient solutions.

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Mindful of the fact that South Africans face unprecedented economic challenges due to coronavirus, Vodacom has announced the introduction of a first-of kind lending proposition called Voucher Advance.

The scheme not only signifies telcos’ growing influence in offering banking services, but promises cost-efficient solutions to customers.

“Our primary focus is to deliver seamless and rewarding experiences for customers and vendors in a cost-efficient way,” says Quintin Van Vuuren, executive head of Lending at Vodacom. 

VodaLend promises cost-efficient solutions to customers.

From craving a quick meal from a restaurant to needing new appliances, VodaLend | Voucher Advance offers Vodacom customers the ability to get it now or pay for it later.

Allowing customers to choose to ‘pay now’ and buy vouchers at a discounted rate or get an advance and ‘pay later’, vouchers advances starts from as little as R25 interest free from a food outlet or a R250 from a retailer.

Once a voucher has been issued, customers will have 30 days to pay back their Voucher Advance. Vouchers are valid for three years from issue date.

To be eligible for this service, which can be accessed through the My Vodacom App, customers need to be active on the Vodacom network for at least six months as well as have a proven track record of buying airtime or data bundles.

“With our digital lending solutions, we will continue to focus on addressing the challenges related to financial inclusion by going beyond traditional methods. We will continue to innovate to ensure all customers have access to financial services solutions, including those who are unbanked,” concludes Van Vuuren.