Samsung, Safaricom, M-Kopa unveil financing plan for Galaxy A10s

Safaricom, Samsung and M-Kopa have launched a new mobile solution that will allow Kenyans to purchase the Galaxy A10s and pay in instalments.

The pay as you go mobile solution will enable carriers and dealers to sell Samsung’s latest smartphones to Kenyans on loan.

This offers customers the opportunity to access a unique prepaid financing plan and premium Samsung devices at “affordable prices’’.

The three partners are kicking off this initiative with the Samsung Galaxy A10s that was launched in the country in April last year.

The recommended retail price for the Galaxy A10s is Ksh. 12,889.

With this new deal between Samsung, Safaricom and M-Kopa, you will, however, be able to get it for Ksh.60 bob a day.

Sounds like a good deal but is it really? There’s a catch.

How Financing Of The Galaxy A10s Works

This is because while at face value the Kshs 60 per day sounds reasonable, in the long run, the smartphone being offered ends up being more expensive than if one just bought it from the shops straight away.

Getting the A10s via this new arrangement means that by the end of the payment period, ideally a whole year (365 days) if one doesn’t pay off the remaining amount at any point, one will have paid Kshs 25,399.

That is almost double the amount that one would pay for the device via an outright purchase.

Those interested in getting the phone can find it at M-Kopa outlets across the country as well as Safaricom shops.

A downpayment of Kshs 3,499 for the Galaxy A10s is to be paid upfront.

The daily Kshs 60 “credit”, which is what offsets the debt, is to be paid (via M-Pesa, of course, to the M-Kopa pay bill number) before the device can be used.

Failure to pay the amount results in the device being locked by M-Kopa using Samsung’s proprietary Knox Guard system.

“The exception is that we will allow you to unlock your phone for 5 minutes so that you can make the payment from your M-Pesa account,” reads part of the FAQs on the partnership.

How To Purchase The Phone

This is a financing plan and the phone can be purchased at selected Safaricom and M-Kopa shops.

You will need your national identity card and pay a downpayment of Ksh.3,499 by M-Pesa.

You are required to pay a daily rate of Ksh.60 for a period of 365 days

The total cost of the Galaxy A10s at the end of the payment period comes to Ksh. 25,399.

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