Recently, LOOP, a Kenyan fintech company owned by NCBA Group, announced a ground-breaking partnership with OPPO to provide device financing for the brand-new OPPO Reno 12 smartphone series in Kenya. Flexible payment options offered by this partnership are expected to transform Kenyan consumers’ access to high-end smartphones.

In an exciting pre-order promotion, LOOP is providing a generous 10% cashback offer, capped at KES 6,000, for Reno 12 Series purchases over KES 14,499.

This special deal, accessible through the LOOP Card or LOOP App, showcases LOOP’s position in the smartphone financing sector and its dedication to offering customers flexible payment choices for significant buys. This well-planned move aims to encourage the early adoption and use of LOOP financing services, enriching the overall customer journey.

 Thanks to this innovative partnership, users may now use Loop’s buy-now-pay-later service to acquire OPPO Reno 12 series handsets. This ensures that users will be able to purchase the smartphone with a one-time payment and be able to pay the remaining amount over time in installments.

By taking into consideration the budgetary limits experienced by many consumers, this effort seeks to address Kenya’s growing demand for high-end smartphones.

Buy-now-pay-later (BNPL) services in Kenya are expected to see a massive increase in gross merchandise value, rising from $1.08 billion in 2023 to $2.10 billion by 2029.

This growth is a reflection of how widely accepted digital payment methods are becoming as well as how customer behaviour is changing to include more easily accessible credit choices.

Notably, the growing number of fintech companies providing these services across various retail categories has given the BNPL ecosystem in Kenya a lot of drive.

This collaboration between Loop and OPPO is a powerful illustration of how fintech technologies can be used to advance technology inclusion in developing nations.

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Loop, as a digital banking service, prides itself on empowering individuals to manage their finances with ease and convenience at any time and from anywhere.

Offering a full suite of banking services accessible through mobile (Android and iOS) and web platforms, Loop makes banking more accessible than ever before.

Why Loop?

1. Open your account in under 4 minutes and begin transacting immediately.
2. Enjoy stress-free and secure banking with fingerprint authentication for account access.
3. Obtain a personal loan of up to KES 3 million and an overdraft of up to KES 100,000 without any paperwork.
4. Keep track of your financial holdings, budget for your monthly expenses, and easily analyse your expenditure with Loop’s user friendly tools.
5. Conveniently make payments to mobile money or to a bank, including bills or merchant payments through Pay Bill, Till, or with your Loop card.
6. Engage in Loop Invest with as little as KES 1000 and benefit from competitive interest rates on your investments, or simply set up and track various financial goals in real-time.

Your convenience is paramount to Loop, and to that end, here’s how to check your LOOP Payment and Bank account balances:

How to check your LOOP Payment account balances

1. Access your LOOP app.
2. Select My Accounts.
3. Select your payment wallet.
4. Click to view your balance.

How do I check my LOOP Bank account balances?

1. Access your LOOP app.
2. Select My Accounts.
3. Select your bank.
4. Click to view your balance.

If you need to top-up your LOOP payment or bank account, here are the simple steps to follow:

1. Top up account via Paybill

•    Access your Safaricom menu and select M-PESA.
•    Choose Lipa Na M-PESA, then Pay Bill.
•     Enter 714777 as the pay bill number.
•    Enter the LOOP Bank Account number or mobile number for LOOP Payment (yours or a recipient).
•    Input the amount to transfer.
•    Enter your M-PESA PIN and confirm.

2. A fellow LOOP customer can easily transfer funds into your LOOP bank account or LOOP payment via the Send Money options available in the app.

3. You can also top up your virtual wallet from your LOOP Bank or Mobile Money.

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With Loop’s comprehensive range of banking services and its game-changing partnership with OPPO, the landscape of smartphone accessibility and financial empowerment in Kenya is evolving for the better.

This collaboration is set to redefine the consumer experience, offering exceptional convenience and flexibility in accessing premium smartphones while advancing financial inclusion within the region.