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May 28, 2012updated 04 Apr 2017 4:14pm

UK’s Lendme to offer airtime loans to mobile users in Zimbabwe

UK-based and Africa-focused startup Lendme has kick-started its mobile airtime loan service in Zimbabwe The platform permits subscribers to borrow credit worth up to USD20 to top up their pay-as-you-go mobile account Lendme promises not to charge users if the loan is paid back within seven days, and subscribers will not need to commit to a contract

By Raphael Michilis

UK-based and Africa-focused startup Lendme has kick-started its mobile airtime loan service in Zimbabwe.  

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The platform permits subscribers to borrow credit worth up to USD20 to top up their pay-as-you-go mobile account. Lendme promises not to charge users if the loan is paid back within seven days, and subscribers will not need to commit to a contract.  

“We don’t charge you a single cent! Just register, there are no strings attached,” the company says on its website.

The mobile credit can be paid back using a Lendme e-voucher, sold at over 500 merchants in Zimbabwe, or using an EcoCash Mobile wallet from Econet Wireless.

The e-voucher denominations range from USD0.25 to USD5.00.

“We recognise the inherent burdens airtime pre-payment inflicts on consumers hence, we have launched Lendme Airtime in Zimbabwe,” said Michael Charangwa Co-Founder.

 

Free Report
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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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