Stanbic, MTN join hands to offer flexible payment plans for mobile devices

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Stanbic Bank Head of Business Banking Mwansa Mutati and MTN Zambia Chief Executive Officer Charles Molapisi sign a partnership agreement, watched by Ralph Vraagom, MTN Group General Manager for Partnerships (cenre) and Zweli Manyathi, Standard Bank’s Chief Executive of Personal and Business Banking for Africa (right).

Stanbic Bank and mobile phone service provider MTN have rolled out a device financing solution that will enable customers to acquire mobile devices and data packages using flexible payment plans that will be offered by the bank.

The solution, which was launched on Wednesday evening at Stanbic’s Taj Pamodzi Private Banking Suite, is exclusive to Stanbic Bank clients who need flexible payment plans to buy any device of their choice as well as voice and data connectivity plans offered by MTN using Stanbic Bank channels at agreed payment periods.

Zweli Manyathi, Standard Bank’s Chief Executive of Personal and Business Banking for Africa, said the partnership by Stanbic and MTN was key to driving financial inclusion for customers.

“This partnership deals with some of the missing links that we have been trying to work towards in different types of markets. This is what’s called financial inclusion for the bottom of the pyramid clients. Exclusion from financial services is potentially exclusion from economic participation. So, we owe it to ourselves as a responsible citizen in each of the countries we operate in to deliver on that,” Mr Manyathi said.

“What we’ll be delivering is simply putting together two products, one in the bank and one in MTN, package them together for all special customers of the bank as well as MTN subscribers so that they can continue to ensure that using the products that we have in Stanbic you’ll be able to improve your lives and have convenience in everything you do,” he added.

MTN Zambia Chief Executive Officer Charles Molapisi said the package that was being rolled out would enable more customers to acquire digital devices that have become a major part of people’s lives today. Mr Molapisi said digital inclusion was key to driving financial, health and educational inclusion.

“Tonight, we continue to partner with Stanbic to deliver the services of a mobile operator through the banking channels. If you are a Stanbic customer, today if you want to access banking on the internet platforms, you can do so without paying for your data subscription,” he said.

“We are going a step further. Through this partnership we’ll deliver all the mobile services that are delivered to our corporate customers through the Stanbic channels. As a Stanbic customer, you can walk through a branch and walk out with an MTN sim card, phone, and an MTN plan on your phone immediately.”

Ralph Vraagom, MTN Group General Manager for Partnerships, hailed the collaboration between Stanbic and MTN, which he said was a long-term partnership that would bring convenience to customers of both service providers.

“We bring together a wealth of knowledge and understanding and a wealth of expertise to jointly service our customers and consumers better. At MTN we believe we cannot give everything to our people. We need trusted partners to be able to maximize the value to our customers,” he said.

Vraagom said the partnerships between the two companies in many markets they operate are built on mutual trust, shared objectives and a greater need to work together.

The device financing solution will give MTN subscribers and Stanbic Bank customers an affordable service that allows them to access Data, Voice, SMS and Home Connectivity plans as part of a package through MTN’s Enterprise Business Unit and Service Centres nationwide and the Stanbic Bank’s Private Banking Suites.

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