M-Kopa offers pay-as-you-go (PAYG) financing for household goods, including refrigerators and TVs, to low-income and underbanked customers. The PAYG model allows customers to purchase assets, like smartphones, in small installments over time through micro-asset financing. If payments stop, the asset is "locked" to prevent repossession, and customers have immediate access to the product while avoiding the high upfront retaincome and cash flow.
How M-Kopa Satisfy Customers With Its Service
M-Kopa has had to use alternative payment platforms connected to bank accounts like Paystack and Quickteller in markets like Nigeria where mobile money is still in its infancy. This implies that the only people who stand to gain are those who have access to formal accounts and cash-in/cash-out agent banking networks. However, despite lower customer purchasing power, M-Kopa smartphones have seen a strong uptake in markets with high mobile money penetration, such as Kenya, Ghana, and Uganda.
Reaching low-income customers is still difficult. Even though M-Kopa phones make it possible for many customers with lower incomes to own smartphones, many people, especially women, still find the cost of the deposit to be prohibitive. those with a wide range. or unpredictable income may find it difficult to make regular micropayments, or they may choose to save up and buy an incredibly cheap smartphone outright. It's harder to reach customers in rural areas.
The adoption of M-financed KOPA's smartphones has been slower in rural areas than in urban and peri-urban areas, despite the company's extensive experience in rural distribution through its solar home systems. The mid-to high-end smartphones may be seen by rural customers as being less relevant, not robust enough for the rural environment, or that the offering is simply better suited to meet the needs of urban residents. Additionally, the distribution network is less developed in rural areas. Low digital literacy may hinder adoption. Smartphones call for a higher level of digital literacy due to their touchscreens, apps, and extra features.
How to Qualify for a M Kopa Phone
The first phones to launch with this service were the Nokia 2.1 and Nokia 2.2, where customers would pay a down payment of 3k and equal daily installments of 60 bob for 330 days. This is the same model that has been applied with the Samsung Galaxy A10s, only that the down payment is slightly higher and the period is 365 days.
If you are interested in getting yourself the M-Kopa phone, here’s the procedure:
• Walk into a Safaricom shop or M-Kopa outlet with your National ID
• Pay a downpayment of KES 3,500 through M-Pesa
• Walk away with your phone
From then on, you will be required to pay 60 bobs per day to use your phone through M-Kopa’s pay bill number 333222. Failure to pay will result in the phone getting locked and you losing access to it. This remote locking is possible through Samsung’s Knox security feature.
In the case that the phone locks before you make your daily payment, the device will allow you to unlock the phone once for 5 minutes to make the payment. M-Kopa also says that users can pay any amount above 60 bob and that amount will be credited to their account, for instance, paying 600 will get you 10 days of usage..
The steps are as follows if you want to purchase an M-Kopa phone:
• Present your National ID when entering a Safaricom store or an M-Kopa location.
• Make a KES 3,500 M-Pesa down payment.
• Exit while holding your phone.
Other methods on how to qualify for M-Kopa phone: Uganda, Nigeria, Ghana
- For MTN in Uganda, dial *165#.
- Dial *185*44# to reach Airtel, Authorized direct debit to M-Kopa in Nigeria
- Dial * 718 * 287 for Ghana.
Cash payments are not acceptable to M-Kopa under any circumstances for the payment of the Credit Fee or the purchase of any Products.
Responsibilities of M-Kopa to Its Customers
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Notice of approval
Within seven days of receiving the Agreement, M-Kopa will notify you via SMS, email, or phone call of its approval or disapproval.
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Launch the product
When the Down Payment is received and then each time your M-Kopa Account has a positive credit balance, M-Kopa will make sure the Product is activated. M-Kopa will not be held liable if a product fails to receive credit as a result of third-party system or network failures that prevent a device from receiving credits.
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End billing when the total purchase price is paid
Once the total purchase price of the product is paid, M-Kopa will finish billing for it and stop requesting additional credit fees. The ability of M-Kopa to activate and keep up the module and billing for any extra products you might buy. Unless required to do so by law or by these Financing Terms and the Privacy Policy, M-Kopa agrees to protect your data by the applicable data protection and consumer protection laws.
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Ownership of carbon credits
The carbon credits obtained from the use of the Product shall belong entirely and solely to M-Kopa.
Final thoughts
Carlcare has you covered, so you don't need to worry about who is the most trustworthy. The majority of technical problems with customers' devices may be resolved promptly, effectively, and efficiently by our Carlcare Repair Services and Areas faculty at Carlcare. You can get solutions to your Android phone issues by visiting our website to chat with an agent or by going to the office that is closest to you. Call Carlcare right away for reliable phone repair services.
