Mobile operator Vodacom has launched Vodalend Voucher Advance, which enables subscribers to buy food from Nando’s or a home appliance from Hirsch’s on credit.
The new service is similar to Vodacom’s Airtime Advance that already has about 11 million active users.
Vodacom’s Vodalend Voucher Advance
In a statement this week, the mobile operator said customers can choose to “pay now” and buy vouchers at a discounted rate or get an advance and “pay later” through Voucher Advance.
Mariam Cassim, head of Financial and Digital Services at Vodacom, said, “Voucher Advance is yet another innovative addition to our lending product suite, which showcases our commitment towards greater financial inclusion within communities in South Africa.”
Subscribers can get a voucher advance from as little as R25 interest-free from a food outlet or R250 from a retailer. They then have 30 days to repay it. The vouchers are valid for three years.
“We, as a business, are also mindful of the fact that South Africans face tough economic challenges,” Quintin van Vuuren, Executive Head of Lending at Vodacom Financial Services, added.
“Our primary focus is to deliver seamless and rewarding experiences for customers and vendors in a cost-efficient way.”
How to qualify
Subscribers need to be active on the Vodacom network for at least six months to access the service. In addition, they need to have a track record of purchasing airtime and/or data bundles.
Voucher Advance is available via My Vodacom App. Users can access it by navigating to the “My Account” tab and clicking on “Vouchers.”
The company said it will add a USSD functionality in due course to cater for all subscribers.
“With our digital lending solutions, we will continue to focus on addressing the challenges related to financial inclusion by going beyond traditional methods,” van Vuuren said.
“We will continue to innovate to ensure all customers have access to financial services solutions, including those who are unbanked.”