Vodafone Idea Limited and Home Credit India have announced an industry first strategic alliance. The alliance will play a vital role in providing financial access to a customer base, which has not been exposed to it in the past.
As per the terms of the partnership, for a down payment of Rs 799, Vodafone Idea prepaid customers will now be able to buy the latest 4G smartphones with a bundled 180-day validity plan offering unlimited local and national calls and 1.5GB data/day.
Customers can select the 4G smartphone of their choice from a wide range of options and popular brands available at multiple price points starting at Rs 3,999. Irrespective of the cost of the handset chosen, the down payment remains constant at only Rs 799 for this offer, much lower than the market norm of down payment being 30-40 per cent of handset value.
Commenting on the partnership, Avneesh Khosla, operations director- marketing, Vodafone Idea Limited said, “It is our constant endeavor to deliver the most relevant proposition and value to our customers. We are delighted to partner with Home Credit to offer easy finance options to encourage our customers to upgrade to 4G smartphones. This partnership will help fulfill the aspirations of several million mobile phone users across the country, including those who have never had access to credit before and those who desire a smart phone but couldn’t afford to pay upfront. This bundled telecom offer will enable non-users of 4G to upgrade and experience the benefits of mobile internet while enjoying a richer user experience with Vodafone Idea.”
Meanwhile, Ondrej Kubik, CEO, Home Credit India said, “We are delighted to partner with Vodafone Idea for this unique initiative. This initiative will further strengthen our commitment towards financial inclusion and enabling that through credit provision for first time borrowers and others. Together with Vodafone Idea, Home Credit India will be able to not just help people upgrade their phones but also their lifestyle. With a Smartphone, a customer can upgrade the lives of themselves and their families. I am sure that this will create a mutually beneficial partnership between Vodafone Idea and Home Credit, where the consumer will be the ultimate winner.”
The partnership has been conceived with the aim of accelerating adoption of 4G smartphones and democratise access to Vodafone Idea 4G. This will be powered by Home Credit’s consumer financing offer to the customers of Vodafone Idea. The customer can access finance in 179 cities of operations of Home Credit India through the vast Point-of-Sale (PoS) network of 29,000 centres. Vodafone Idea customers will be able to walk into any PoS and upgrade their smartphone.