Just over a year ago, we told you about Mobicred, South Africa’s first online-only credit facility. The brainchild of Jason Sive, who is also the director of First Health Finance (FHF), the startup was aiming to attract the kind of people usually averse to buying online with their actual physical credit cards. As an added bonus, it would offer a centralised account that you can access across a number of merchants.
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The technology behind the facility would also ensure that only the people least likely to default would be given credit with merchants and customers paying fees similar to what they would be offered on mid-range credit product at a traditional bank.
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