Transnet, a loan facility company, and a smart phone manufacturer, has introduced down payment to the mobile phone industry in Nigeria.
The Sales Manager of the company, Ms. Elizabeth Adelaja, said this was in a bid to help people buy their desired phones without stress.
Adelaja, who said that Transnet was a loan facility company and a sub division of Transsion Holdings, added, “We have decided to come into the mobile industry in order to help people buy their dream phones when they don’t have enough money and what we can give is N50, 000. We also developed an application called Easybuy, which is not yet on Google play but will be there soon.”
On some of the benefits of the down payment to customers and the company, she said that the company had made it easy for customers in a way that the money could be paid in full, with little interest, within three months.
She noted, “In recent time, the prices of phones have been fluctuating. What you budget for might not be enough for the phone you want and that is where we come in. So, you can buy a phone from zero naira to N71, 000. When you come, you make a down payment of 30 per cent of the phone price. But if it is over N71, 000, we do a minus N50, 000 from the original price of the phone.
“If a phone is sold at N33, 500, it means your down payment is N10, 050. Then, in three months, we deduct it from your account with our own interest rate of over six per cent. So, they don’t need to stress themselves coming back to the store.”
Throwing more light on patronage, she explained that though they had some customers, there were still challenges because it was a new development “and not everybody knows about it.”
“Though, the beginning of any business can be very challenging, but we are optimistic that we will breakthrough and win the market,” she said.
On requirement and approval of registration, Adelaja pointed out that customers had to register on the Easypay application with a valid identification such as voters card, driver’s licence, international passport, and BVN with the phone number connected to it.
Speaking on the challenges the company had encountered so far, the manager said, “We find it difficult to get customers’ BVN because some of them do not disclose it to us. So, what we do is that we allow them type it by themselves and allow them fill the form online.”
Some of the customers, who spoke with our correspondent, said it was a very good initiative.
A customer, Mrs. Aishat Ogunlana, who spoke with The Point said, “I am happy with this new initiative because it is very convenient. They have made it easy to buy expensive phones, especially for people that cannot pay cash.”
