South African users are now able to obtain Wonga micro-loans using their mobile phones after the company launched a mobile edition to increase its subscriber base, a strategic solution targeting those without access to a computer.
“A mobi site has always been part of our business plan for SA,” said Kevin Hurwitz, Chief Executive at Wonga South Africa.
“We are fully aware that not everyone has regular access to the internet on a desktop PC, and in order to offer our service to the majority of eligible consumers, it was vital to have a site which could be accessed via a mobile phone.”
Wonga is an online short term loan provider, developed in the United Kingdom by two South Africans, aiming to “transform the South African credit market”.
The company prides themselves on offering faster, more effective and adaptable services than banks, traditional brokers or online loan options.
It also competes with credit providers, such as banks who provide credit card services, with an edge of shorter retention period generally available.
“A great deal of research and development went into creating an automated risk decision and lending system for the South African market, and so adapting that technology for use on a mobile phone is the logical next step for us,” said Hurwitz.
