MTN Ghana, Access Bank Unveil Innovative Smartphone Financing Scheme
Making Smartphones More Accessible Through Flexible Payment Plans
- Customers can pay for smartphones in 4 or 6 monthly instalments via MoMo
- Available devices are based on customers' creditworthiness assessed through MTN’s network
- The initiative aims to improve access to digital banking services and reduce communication costs
MTN Ghana has partnered with MobileMoney Ltd and Access Bank Ghana PLC to introduce a device financing service called “MTN Pick and Pay Later”.
This innovative service allows MTN customers to purchase smartphones and pay for them in instalments over 4 or 6 months using MoMo.
To access the service, customers can dial *170#, select Financial Services, and choose “Device Pick and Pay Later” under the Loans section. The smartphone options available will be determined by the customer’s creditworthiness, assessed through a credit scoring engine on the MTN network.
According to Mr. Noel Kojo-Ganson, Chief Commercial Officer for MTN, this initiative aims to make smartphones more accessible to customers who may not have the means for upfront purchases.
The partnership with Access Bank is designed to reduce communication costs and promote financial inclusion. Access Bank will offer financing options for customers to purchase smartphones that enable access to digital banking services.
Matilda Asante-Asiedu, Group Head of Retail Banking at Access Bank Ghana, emphasized the importance of this initiative, citing the limited access to borrowing for eligible populations.
The “Pick and Pay Later” service is supported by other partners, including Hollard Insurance, PaySwitch, and Atlantic Phones. With a range of smartphone options available, this service aims to meet customers’ needs and support their ability to transact anytime and anywhere.
For more information, customers can visit (link unavailable) and (link unavailable), send an email to (link unavailable)@mtn.com, or access ‘Device Pick and Pay Later’ under the loan menu using the MTN short code *170#.
