MTN Ghana & Access Bank Launch Credit Score System for Smartphone Financing

MTN Ghana has partnered with Access Bank to launch a national credit score system to help Ghanaians purchase smartphones on credit. This initiative is seen as a significant breakthrough in improving access to credit and enhancing financial inclusion in Ghana.

In a media release shared with GhanaEducation.org, MTN Ghana announced it would leverage the partnership to offer its customers smartphones on flexible payment plans.

The agreement aims to provide device financing services under the name “MTN Pick and Pay Later.” This service allows customers to select a smartphone, make an initial payment, and pay the remaining balance in installments over a 4-month or 6-month period through their MoMo wallet.

According to MTN, the type of smartphone a customer qualifies to purchase under the MTN Pick and Pay Later scheme will be determined by the customer’s credit score. MTN Ghana will use existing customer data to evaluate creditworthiness through a credit scoring engine available on its network.

How to Buy a Phone on Credit Under the MTN Pick and Pay Later Scheme

To purchase a smartphone under the MTN Ghana and Access Bank Credit Score System, follow these steps:

1. Dial *170#.
2. Select Financial Services (Option 5).
3. Choose Loans (Option 3).
4. Select MTN Pick and Pay Later (Option 6).
5. Follow the prompts to complete the process.

Speaking on the new service and partnership, Mr. Noel Kojo-Ganson, the Chief Commercial Officer for MTN, emphasized the company’s belief that everyone deserves the benefits of a modern, connected life, including access to quality smartphones for high-speed internet service.

He noted that the initiative will assist customers who wish to own smartphones but may have limited cash for an upfront payment.

Access bank as partners in the MTN Pick and Pay Later, will provide the needed financing to customers to purchase the smartphones to enable access to digital banking service.

Matilda Asante-Asiedu, Group Head of Retail Banking at Access Bank Ghana, highlighted the importance of this initiative. In her reaction to the service, she noted that only 13% of the eligible population have access to borrowing, leaving a substantial gap for those who qualify but lack access to financing. She added that the partnership reflects Access Bank’s vision of providing innovative solutions to empower individuals to support their lifestyle in a world that is rapidly becoming more digital—all through the convenience of a mobile phone.

The Pick and Pay Later service is supported by other partners, including Collard Insurance, PaySwitch, and Atlantic Phones, all of which provide various services to enhance the customer experience.

READ: How to check your MTN number in Ghana

With a wide range of smartphones available—from entry-level to mid-tier 4G phones—the MTN Pick and Pay Later service aims to meet diverse customer needs and support their ability to transact anytime, anywhere. By financing these services, MTN Ghana, Access Bank, and their partners are dedicated to reaching the unbanked population and promoting the adoption of digital financial solutions.

READ: Things To Consider Before Buying A Smartphone

The MTN Ghana & Access Bank Launch Credit Score System for Smartphone Financing is expected to benefit customers and partners who put the service together.