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Vodacom has announced the launch of Voucher Advance, which expands VodaLend with vouchers for retail and food purchases.
A first for South Africans, the service allows Vodacom customers to immediately buy vouchers at a discounted rate. Alternatively, they can get the vouchers in advance and pay for them 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,” said Chief Officer of Vodacom Financial and Digital Services, Mariam Cassim.
How do I use Voucher Advance?
Voucher Advance is available on the My Vodacom app. To access it, click on the My Account tab and select Vouchers.
To qualify to use Voucher Advance, you need to have been active on Vodacom’s network for at least six months. You must also have a history of buying airtime or data bundles.
Customers can buy vouchers for Nando’s and appliance manufacturer Hirsch’s. Vouchers for Nando’s range from R25 to R75, while vouchers for Hirsch’s range from R250 to R1000.
Upon purchase, customers will then have 30 days to pay the money back. If customers pay for the vouchers immediately, they receive a 5% value increase.
Upon purchase, the vouchers are valid for three years.
“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,” said Executive Head of Lending at Vodacom Financial Services, Quintin van Vuuren.
Vodacom has a history of offering advanced lending to its customers. The company’s Airtime Advance service has about 11 million active users.
“With our digital lending solutions, we will continue to focus on addressing the challenges related to financial inclusion by going beyond traditional methods,” added Van Vuuren.
Feature image: Vodacom