Airtel, SOLO, Renmoney inspire consumers via upfront payment for phones

Airtel Nigeria and SOLO are set to change the narrative in the smartphone market via upfront payment.

This was the highlight of the unveiling of the partnership between Airtel, SOLO and Renmoney Microfinance Bank Ltd; during a media parley in Lagos.

SOLO has partnered Airtel Nigeria to offer its Solo Aspire M Smartphone to customers on an upfront payment basis.

Mr Wole Abu, vice president, Indirect Sale, Airtel, in his remarks stated that the partnership between Airtel, SOLO and Renmoney Microfinance Bank Ltd is an innovative milestone to impact positively on telecom landscape and the consumers.

“We are putting real value in the hands of Nigerians because we have top notch quality product, financial re-engineering, technological re-engineering with our partners by bringing innovation to Nigerian landscape where consumers are being given access and value for their money,” he said.

Mr Tayo Ogundipe, CEO, SOLO Phone explained that the company is out to drive the delivery of content and accelerate phone adoption in Africa, adding that digital content and services have enormous significant in emerging market, entertainment, consumers, operators, music, movies, games and services among others.

According to him, price is the reason that we are not following in smart phone adoption with the rest of the world where people’s devices are subsidized, stressing that the partnership of SOLO, Airtel and Renmoney, would bring in technology to bridge the gap.

On his part, Ian Abrahams CEO, Renmoney Microfinance Bank Ltd, disclosed that the bank choose SOLO Phone as a partner that can provide the channel with features that will make life easy, while Airtel with its reach will get the bank to where it want to be.

“ One of the key functions we have is that when you apply for credit and want to get a loan, we cannot let the people to wait for days as we deliver in real and quick time of 30 minutes,” he said.

Bobby Iduoze Senior Manager Devices and Data highlighted that to get the smartphone which is free, customers will have to first make an initial cash deposit of ₦4,150 and then pay same amount monthly for 11 months.

“The sweetest part of the whole deal is customers will make the subsequent (that’s after the initial cash deposit) payments via recharge cards. No cash deposits or money transfers. Just airtime!!! As for those who default on payments, the device will be locked and will not be able to make calls or use any phone functionality until payment is continued,” he stressed.

Ogundipe, while fielding question from Daily Times, disclosed that the “deal is only open to Airtel Nigeria subscribers who have been pre-qualified (they will get an SMS to that effect). They’ll thereafter be required to complete an application at a partner store after which they’ll be issued the Solo Aspire M Smartphone.

“Pre-qualified customers from other networks will have to purchase and register an Airtel SIM in order to successfully complete an application in-store. Customers who successfully complete an application in-store will walk out with the Solo Aspire M bundle package.

“Non-prequalified customers from Airtel and other networks- who haven’t been prequalified may apply. However, they are not likely to walk out of the store with the bundle package on the same day. Their details will be stored and a RenMoney sales agent will contact them and advise them on how to proceed.”