Websites using Mobicred

Okay, let s break down Mobicred, covering its overview, revenue (as much as publicly available), alternatives, pricing, and customer care.

What is Mobicred?

Mobicred is a South African online revolving credit facility. Think of it like a digital credit card, but specifically designed for online purchases. It allows customers to shop online at participating retailers and pay for their purchases in monthly installments.

• Key Features:
  • Revolving Credit: You get a credit limit that you can reuse as you pay it down.
  • Online Focus: Primarily for online shopping at partnered retailers.
  • Installment Payments: Purchases are divided into monthly payments with interest.
  • Virtual Credit Card: You typically receive a virtual credit card number to use at checkout.
  • Easy Application: The application process is usually done online and is relatively quick.

Revenue Information

Mobicred is a product of RCS (Registered Credit Provider NCRCP 38). RCS is a large financial services company that offers a range of credit products, including store cards, personal loans, and insurance.

• Publicly Available Revenue: RCS is not a publicly listed company, so specific revenue figures for Mobicred alone are not publicly available.
• Revenue Sources: Mobicred generates revenue through:
  • Interest Charges: Charging interest on outstanding balances.
  • Fees: Potentially, account maintenance fees or late payment fees (check their terms).
  • Merchant Fees: Charging retailers a fee for processing Mobicred transactions (similar to how credit card companies charge merchants).

Alternatives to Mobicred

Here are some alternative options for online financing and payment plans in South Africa:

• Traditional Credit Cards: Standard credit cards from banks (e.g., Visa, Mastercard) offer revolving credit and can be used online.
• Store Credit Cards: Many retailers offer their own store credit cards, which often have special promotions or rewards for shopping at that store. Examples include Edgars, Woolworths, etc.
• Laybuy: A buy now, pay later service that allows you to split your purchase into interest-free weekly installments.
• Payflex: Another buy now, pay later service that allows you to pay for your purchase in four interest-free installments, typically bi-weekly.
• Afterpay: Similar to Payflex.
• MoreTyme (by TymeBank): Offers a similar BNPL (Buy Now Pay Later) service.
• Capitec Pay@: Allows Capitec clients to pay online using their app by scanning a QR code.
• Ozow: Enables EFT payments directly from your bank account to the retailer. While not credit, it simplifies online banking transfers.
• Personal Loans: If you need a larger amount of credit, a personal loan from a bank or other lender might be an option.
• Float: Allows you to pay in 3 interest-free installments.

Pricing

Mobicred s pricing structure typically involves the following:

• Interest Rate: A monthly interest rate is charged on the outstanding balance. This rate can vary based on your credit profile and the prevailing interest rates. It s crucial to check the current interest rate when you apply.
• Monthly Service Fee: A monthly fee might be charged to maintain the Mobicred account, regardless of whether you use it or not.
• Initiation Fee: An upfront fee that may be charged when you activate your account.
• Late Payment Fees: Fees charged if you miss a payment deadline.
• Other Fees: Review the full terms and conditions for any other potential fees.

Important: Always carefully review the Mobicred terms and conditions, interest rates, and fees before applying. Credit can be expensive, and it s essential to understand the costs involved.

Customer Care Details

• Website: The main Mobicred website is the best place to start: https://www.mobicred.co.za/
• RCS Website: Since Mobicred is an RCS product, you might find helpful information on the RCS website: https://www.rcs.co.za/
• Customer Service Number: Look for the customer service number on the Mobicred website or on your account statements. RCS general customer service number: 0861 111 318.
• Email: Check the website for a customer service email address.
• Social Media: Sometimes, companies provide customer support through their social media channels (Facebook, Twitter). Search for Mobicred or RCS on those platforms.

Tips for Contacting Customer Care:

• Have your account details ready: Your Mobicred account number, ID number, and other relevant information.
• Be specific: Clearly explain your issue or question.
• Keep a record: Note the date, time, and name of the person you spoke with (if applicable).

Disclaimer: I cannot provide real-time interest rates or specific fee schedules, as these can change. Always refer to the official Mobicred website and your account information for the most up-to-date details.