Through Voucher Advance, Vodacom customers can choose to ‘pay now’ and buy vouchers at a discounted rate or get an advance and ‘pay later’.
“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.”Mariam Cassim, Chief Officer of Vodacom Financial and Digital Services
Vodacom customers can access an advance on a voucher starting from as little as R25 interest free from a food outlet or a R250 from a retailer. Once a voucher has been issued, customers will have 30 days to pay back their Voucher Advance. Vouchers are valid for three years from issue date.
“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.”Quintin Van Vuuren, Executive Head of Lending at Vodacom Financial Services
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.
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.
“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.”Quintin Van Vuuren, Executive Head of Lending at Vodacom Financial Services
To access Voucher Advance, customers need to download the My Vodacom App, find the My Account tab and click on Vouchers.