Mobicred Launches Convenient, Accessible, Mobile Credit Facility within The Shoprite Group

As of August 2023, Shoprite customers will now be able to purchase non-food items using leading digital credit provider, Mobicred. The fully digitised system will give shoppers access to credit offerings via their Money Market accounts, enabling them to pay off higher ticket items over a period of up to 12 months. Commenting on this development is Jason Sive, CEO of Mobicred, who says that this partnership marks the next phase of the Shoprite Group’s retail journey, beyond the fast-moving consumer goods industry.

“The integration of Mobicred into the group’s Money Market service, speaks to the need for smart, purpose-based credit that is obtainable by their customers in a more seamless way within their physical stores.

For us at Mobicred, the move has been intuitive. We’ve identified an increasing demand for mobile credit within physical stores as well as online. Our customers want the option of using a mobile credit facility wherever they find themselves, and at their own convenience. This behaviour speaks to the rapid growth of omni-channel retail in South Africa, as shoppers look to expand their choices across multiple digital and physical touchpoints.”

The introduction of Mobicred into Shoprite stores also points to the proliferation of mobile technology and the emergence of the next generation of consumers. These digital natives are leading the charge towards a more integrated shopping reality, demonstrating the capabilities of mobile technology to bring unmatched convenience to the retail experience.

This new credit facility is currently only offered on non-food items costing R500 and more such as electronic goods and appliances and can be accessed via a QR code, which will be displayed on-shelf. Customers scan the QR code on the item they would like to purchase and are redirected to the Mobicred app. When they select Shoprite, they are prompted to enter the cost of the item they want to buy.

Thereafter, an automated system sends a credit voucher for the selected amount directly to the shopper’s Money Market account and they check out at the till point. Existing Mobicred customers have immediate access to this facility, while those who have not yet signed up for the app, can open an account in less than 15 minutes.

The introduction of this facility into Shoprite stores marks the first time that Mobicred has facilitated a full integration of its app into a third-party system from end-to-end. The system was developed and launched by the Mobicred team in only four weeks – a testament to the agility of mobile technology and its growing popularity amongst South African shoppers.

“We’re excited about what this launch means for Shoprite customers and anticipate that the facility will receive an overwhelmingly positive response, both by existing customers and those entering the market for the first time. The introduction of this technology into stores is a sign of great things to come and is perfectly aligned with our collective vision of striving towards a more inclusive credit environment in South Africa,” concludes Sive.

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