Vodacom has launched VodaLend Voucher Advance, which allows its customers to buy food and appliances on credit through VodaLend. Through Voucher Advance, Vodacom customers can choose to ‘pay now’ and buy vouchers at a discounted rate or get an advance and ‘pay later’.
Qualifying Vodacom customers can access an interest-free advance on a Nando’s voucher starting from R25, or an R250 advance on vouchers from Hirsch’s. Hirsch’s is the biggest home appliances store in South Africa with branches nationwide.
Once a voucher has been issued, customers will have 30 days to pay back their Voucher Advance. Vouchers are valid for three years from the issue date.
To qualify for Voucher Advance, 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.
Vouchers can be accessed through the My Vodacom App with a USSD functionality being introduced at a later stage to accommodate all Vodacom customers.
“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,” says Mariam Cassim, Chief Officer of Vodacom Financial and Digital Services.
This is not Vodacom’s first venture into the lending arena, Voucher Advance follows the successful Airtime Advance, which has around 11 million active users. Innovative solutions such as Voucher Advance aim to disrupt the financial services space and create an inclusive digital society.
“We, as a business, are also mindful of the fact that South Africans face tough economic challenges. Our primary focus is to deliver seamless and rewarding experiences for customers and vendors in a cost-efficient way,” adds Quintin Van Vuuren, Executive Head of Lending at Vodacom Financial Services.
“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.
To access Voucher Advance, customers need to download the My Vodacom App, find the My Account tab and click on Vouchers.
