Masmovil to launch consumer loans service in October
Spanish operator Masmovil is preparing to launch a consumer loans service for its customers together with long-time financial services partner Cetelem Espana reports business daily Expansion. Masmovil consumer loans
The service will be rolled out next month and will initially focus on giving Yoigo customers the opportunity to request a loan to fund handset purchases before branching out into other personal loans and financial products. It’s called Xfera Consumer Finance and is 49 percent owned by Masmovil, with the remaining 51 percent in the hands of Cetelem Espana, a subsidiary of France’s BNP Paribas.
Spanish telcos and consumer financing
In 2014, Telefónica Consumer Finance was created, in which CaixaBank has 50.01% and Telefónica 49.9% and offers terminal financing services. Now, it also provides consumer finance services in general, with Movistar Money, a service launched in 2017 that now allows loans to be made up to 4,000 euros in less than 48 hours. Orange reached an agreement with Banco Santander in 2015 for the financing of terminals, while Vodafone finances it internally without resorting to any partner or alliance. Masmovil consumer loans
In Spain, several operators offer consumer loans to their customers, in addition to Masmovil
Some examples include:
- Orange: Orange offers a service called “Orange Bank” that provides personal loans, credit cards, and savings accounts to its customers. The loans are available for amounts between €1,000 and €40,000, with repayment periods of up to 84 months.
- Vodafone: Vodafone offers a service called “Vodafone Money” that provides personal loans and credit cards to its customers. The loans are available for amounts between €1,000 and €60,000, with repayment periods of up to 96 months.
- Yoigo: Yoigo offers a service called “Yoigo Money” that provides personal loans to its customers. The loans are available for amounts between €3,000 and €30,000, with repayment periods of up to 72 months.
It’s important to note that the availability and terms of these services may vary depending on the specific operator and the customer’s creditworthiness. Customers interested in consumer loans should check with their operators to see what options are available to them.
