November 5, 2018: In a
bid to provide more Nigerians with access to the benefits of a digital world, MTN
Nigeria in partnership with Sterling Bank and PayJoy recently launched a Device
Financing Scheme (DFS) to provide customers (who meet their requirements) with
the opportunity to purchase smartphones of their choice and pay over a period
of six months.
Speaking at the launch, Sales &
Distribution Executive, MTN Nigeria, Adekunle 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
Under the DFS, the smartphones ranging from N25, 000–N400, 000 can be purchased
by any customer at its current purchase price plus a 20% interest with the
Device Financing Scheme. The pilot scheme will start with Samsung smartphones
but will be expanded to include other Original Equipment Manufacturers, OEMs.
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 6 months with pocket-friendly
monthly installments, and is open to all customers who meet their credit
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 Shina
Atilola, Group Head, Strategy and New Business at Sterling Bank, “Paying upfront for everything you need can be
limiting. However, the launch of DFS will provide customers with an affordable,
convenient way to fulfil an important goal – living a better, smarter and more
digitally connected life.”
For more information on this scheme, interested customers can visit any
MTN service centre or Sterling bank branch for more details.