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Glo adds 1m new customers in July, others suffer losses

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Telecommunications giant, Globacom, garnered over a million new customers to its subscriber base by the end of the month of July, 2021, a new report from the industry’s regulatory agency, the Nigerian Communications Commission (NCC) has revealed.

The trend however disfavoured other players in the telecommunications market in Nigeria, namely MTN, Airtel and 9mobile which suffered losses while Globacom added 1,007,259 new subscribers to grow its subscriber base from 50,130,540 in June to 51,137,799 at the end of July.

Industry watchers submit that Globacom’s growth is attributable to its continuous network upgrade and extension of 4G data coverage to more cities across Nigeria.  The company is also reputed for offering subscribers highly competitive products with mouth-watering benefits. The 22X offer which offers subscribers 22 times the value of their recharge as well as the Berekete SIM which gives subscribers N600 airtime, 700% bonus on every recharge and 100% bonus on all data plans are some of the products touted to have culminated in the giant leap.

Latest statistics published on the website of NCC indicated that MTN lost 447,460 subscribers as its figure fell from 73,571,192 in June to 73,123,732 in July just as Airtel’s subscriber base which was 50,665,723    in June dropped to 50,301,237 in July, with a loss of 364,486 customers.  9mobile’s figure however remained stagnant at 12,908,092.

The NCC report revealed that Globacom was the only gainer on the new data customers chart during the period under review having added 338,189 new data customers to its data subscriber base from 37,875,966 in June to 38,214,155 in July.

MTN lost   586,240 dropping from 59,594,891 in June   to 59,008,651 in July. Similarly, Airtel lost 182,682 data customers from the 36,235,905 it had in June to 36,053,223 recorded at the end of July while 9mobile neither dropped nor grew from 6,108,151 for the two months in focus.

Online business owners can access up to N2million loan with Sterling’s SocialPay

Online business owners can now access funding of up to N2million with SocialPay, an online payment collection product designed by Sterling’s The Business Hub to facilitate payments via multiple payment options including USSD, bank transfer, card options, and PayWithSpecta. In addition, the first 10,000 merchants will have access to a one-month interest free loan up to a maximum of N1million.

SocialPay is designed to solve the problem of trust between online merchants and their customers by allowing merchants to track payments using automatic invoicing. The platform currently hosts over 2,000 social sellers.

Shina Atilola, Divisional Head, Retail and Consumer Banking, Sterling, said SocialPay was introduced to make payment easy for Nigerians engaging in digital commerce. “Our customers, both retailers and buyers, are now selling and making purchases through social networks. Following this cue, we introduced SocialPay to make it convenient to make and receive payments within that same ecosystem,” Atilola disclosed.

According to Atilola, SocialPay is a secure payment solution for businesses selling online through websites, social media pages/ handles, or WhatsApp for Business. “With social media networks becoming the centre of everyday life for almost 25million Nigerians, SocialPay will ensure that these digital natives can make quick purchases and receive payments from social stores.

SocialPay makes payment as simple as clicking a button, and the money is immediately transferred. The biggest benefit of the payment solution is that the transacting parties (sellers and buyers) are protected.”

Repayments on the business loans will be done daily and customers will be able to choose what percentage of their daily sales would go towards repayment from 10%-30% with competitive interest pricings.

The launch of SocialPay rides on the back of the success of PayWithSpecta which has remarkably improved sales and revenue for business owners. The new product also features a data collection tool and an Escrow payment function which allows customers to receive payments back from merchants in the event of dissatisfaction with goods delivered.