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Telkom Partners with Lipa Later to Provide Financing for Smartphones

Telkom and Buy-Now-Pay-Later company Lipa Later have teamed up to provide Kenyans with a product financing solution for the purchase of smartphones. Through the partnership, the companies are looking to equip more people with smartphones through affordable monthly instalments.

“We are excited to announce this partnership as it speaks to our belief that access to Mobile Data is a fundamental human right. This is due to its strategic potential to progressively address digital inclusion; ensuring the benefits of the Internet and digital technologies are available to more Kenyans, consequently empowering the digital economy,” Telkom CEO, Mugo Kibati said.

According to the Global Systems for Mobile Communications Association (GSMA), the mobile industry and ecosystem players have ample opportunity to improve smartphone affordability among these consumer segments.

Read: Telkom Kenya to Build Submarine Cable Connecting Kenya to Asia and Europe

“We want to enable our customers to have access to a wide range of authentic products and services, affordably and conveniently. Through this partnership with Lipa Later, our customers will also be able to enjoy affordable Mobile Data through our products.”

To purchase a phone, Lipa Later CEO Eric Muli said that consumers can walk into any Telkom store where they can get a credit limit and proceed to pick a device of their choice. The device will be issued at no deposit and the customer can pay for it in up to 12 monthly instalments.

“Additionally with our integration with UzaPoint, the process at the checkout till will be seamless for the consumer across all the Telkom outlets in the country,” Muli said.

Safaricom has an almost similar program dubbed Lipa Mdogo mdogo which allows users to buy a phone on a hire purchase. Subscribers pay a deposit for the phone and pay Sh20 on a daily basis until until they complete payment for the phone.

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