NuovoPay
Why Pay as You Go (PayG) Is Important for Telecom Operators?
The Pay-as-you-go (PayG) finance system has been around for quite some time, but its impact on device financing is relatively recent. As all businesses and most of the crucial operations even in our day-to-day lives rely heavily on technology, everyone desires to own their personal devices, especially smartphones. But with the soaring prices of the latest devices, apart from the elite few, the majority of people need to rethink their finances before taking a direct plunge into paying upfront costs of devices.What is Pay-as-you-go? Pay-as-you-go is a consumption-based cost model that allows the user to pay only for the services and usage that the user has consumed, contradictory to the traditional purchase model that requires the user to pay total upfront costs at once.While a certain popul...
How Finance Companies Can Reduce EMI Default Risk on Smartphone Financing
Image sourced from the Digital Frontiers Institute. In a dynamic world driven by innovation and automation, every sector, whether industrial or not relies heavily on the latest technologies. Smartphones are amongst the popular mobile devices that everyone wants to own. The incessant demand for buying smartphones and other mobile devices has given rise to propositions such as device financing. Device financing allows users to spread out their payment for the purchase of smartphones and other devices into smaller fragments that can be paid over a fixed duration. This makes it possible for users to buy the latest devices despite their high costs without burning a hole in their pockets. Who are device financers? Original Equipment Manufacturers (OEMs) or device resellers are generally those wh...
How to Ensure Payments for Financed Devices With NuovoPay
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Offline Device Locking: Protect Your Financed Devices against Non-payment with NuovoPay
Sourced from Travellers With the advent of 4G technology and the promising 5G technology, smartphones have offered people a gateway to enter the digital economy and get socio-economic benefits. According to Statista, in 2020 global smartphone unit sales for end-users were 1.38 billion. This shows a strong demand for smartphones, which is largely driven by consumers from developed countries. The consumer in developed countries has easy access to smartphone finance, affordable loans, alternative forms of credit scoring, etc. This necessarily does not hold true for certain emerging markets such as Sub-Saharan Africa or South Asia. According to Newzoo Global Mobile Market Report 2018, Smartphone penetration in South Africa was 35.5%, Vietnam was 37.7%, Indonesia was 27.4% as compared to 83% an...
NuovoPay Partners with Angaza to Drive Smartphone Accessibility
NuovoPay, a solution pioneering in de-risking device financing for OEMs, telecom carriers and device financing institutions has now joined hands with Angaza, a leading provider of software technology designed specifically for last-mile distribution businesses. Growing Demand for Smartphones The global market for affordable smartphones is steadily expanding, with Africa observing a large spike in demand for smartphone devices in late 2020. Nearly 22.9 million smartphones shipped to Africa in Q3 2020 alone despite COVID-19 restrictions, according to research from Global Market Intelligence firm, IDC. The demand for affordable technology in Africa, most notably for smartphones, is colossal and can be largely attributed to growing e-learning needs. Smartphone technology is known to provi...
SIM-based Locking: How Telcos Can Reinvent Their Device Financing with NuovoPay
Device financing has been a catalyst in increasing the penetration of smartphones across developed countries. Several telecom carriers have taken the plunge into device financing in recent times, also bringing into focus the previously underserved markets of smartphone financing- in the African, LATAM and APAC regions. Traditionally, the smartphone financing model, especially the one that comes pre-bundled with a telecom service is a win-win for both the consumer as well as the telecom companies. With device financing, individual consumers as well as businesses can leverage the latest technology at their disposal, have an easy upgrade, pay lower total upfront costs and get a telecom service, with voice and data packages. For telecom carriers, smartphone financing enables tapping into...
NuovoPay for Handset Leasing in the Telecom Industry
Sourced from Getty Images. Mobile phones are no longer a luxury, even in the geographies that were once underserved in terms of technology. The proliferation of mobile phones across diverse avenues has led to a transformation that was inconceivable, a few years ago. Mobile phones- the new normal for Africa In Africa, the mobile phone market is heavily driven by the large population of the youth, today have access to a smartphone. According to a study by the World Bank and African Development Bank report, there are more than 650 million mobile users in Africa. Clearly, the African market is more than ready for a revolution that not only subsidizes the cost of mobile phones, which will curb the digital divide within the continent but also opens up new avenues to the growth of the local youth...
NuovoPay for Handset Leasing in the Telecom Industry
Sourced from Getty Images. Mobile phones are no longer a luxury, even in the geographies that were once underserved in terms of technology. The proliferation of mobile phones across diverse avenues has led to a transformation that was inconceivable, a few years ago. Mobile phones- the new normal for Africa In Africa, the mobile phone market is heavily driven by the large population of the youth, today have access to a smartphone. According to a study by the World Bank and African Development Bank report, there are more than 650 million mobile users in Africa. Clearly, the African market is more than ready for a revolution that not only subsidizes the cost of mobile phones, which will curb the digital divide within the continent but also opens up new avenues to the growth of the local youth...
Revolutionizing Mobile Handset Financing and Leasing with NuovoPay
Mobile technology has seen a massive explosion of innovation both in terms of hardware and software, leading to the increased accessibility of the latest tech to humans across diverse geographies and industries. The mobile-first approach has touched the lives of everyone across the demographic elevating the need to have the ‘best from the rest’ smartphones and mobile handsets for the tech-savvy community. Moreso, the inclusion of mobile technology and the precedence given to mobile-based working in modern workspaces has led to the heightened urge to upgrade to the latest model of the mobile handsets. Clearly, the total upfront costs of acquiring the latest mobile handsets or upgrading them every six months or a year is huge, and not feasible always, especially for organizations procu...
