Sterling Bank Plc in conjunction with MTN Nigeria and PayJoy recently launched a Device Financing Scheme to provide customers who meet their requirements with the opportunity to purchase smartphones of their choice and pay over a period of six months.
The Sales and Distribution Executive, MTN Nigeria, Adekunle Adebiyi, told journalists in Lagos that this was in an effort to provide more Nigerians with access to the benefits of a digital world, Under the Device Financing Scheme, the smartphones, ranging from N25,000 to N400, 000 can be purchased by any customer at its current purchase price plus a 20 per cent interest, with the DFS. The pilot scheme will start with Samsung smartphones but will be expanded to include other Original Equipment
Manufacturers .
Adebiyi said: “MTN wants every customer to benefit from the modern connected life and it is through partnerships like this that we will see the kind of change that we want to
see.”
He explained further: “The Device Financing Scheme aims to drive the adoption and uptake of smart devices through the provision of affordable credit facilities to eligible customers. The maximum loan tenure under the scheme is six months with pocket-friendly monthly installments and is open to all customers who meet their credit requirements.”
He added: “The loan for the smartphone purchase will be disbursed using Sterling Bank’s Spectra platform, with the Samsung devices secured by PayJoy’s security lock technology and insured for theft, job loss and
damage.”
According to the Group Head, Strategy and New Business, Sterling Bank, Shina Atilola, “Paying upfront for everything you need can be limiting. However, the launch of DFS will provide customers with an affordable and convenient way to fulfill an important goal living a better, smarter and more digitally connected life.”