By Seleoe Nonyane
Mobile network company Vodacom Lesotho (VCL) Financial Services in partnership with Redeem Financial Services today launched an overdraft called ‘Ntlatse’.
‘Ntlatse’ is a short term loan which is accessible on the M-Pesa platforms which tops up customers when they have insufficient funds while doing a transaction.
It is available to all M-Pesa customers, meaning the customers will have to sign-up to use the service and can also opt out at any time.
The managing director of VCL Financial Services, Palesa Mphunyetsane said: “With this innovative solution, we are creating a better experience for our customers by affording them instant access to credit to enable them to make money transfers, pay bills and purchase from merchants even when they have insufficient funds in their accounts.”
This functionality is also in line with the mission of M-Pesa, which is to provide access to credit for those who cannot access credit
