The credit provider works with more than 4,000 online stores across its network
RCS, the consumer finance arm of global bank BNP Paribas, is to acquire online credit provider Mobicred in a bid to attract the digital-savvy SA youth that it says is the fastest-growing cohort of online shoppers in SA.
“Our acquisition of Mobicred enables us to better serve the needs of SA consumers who require a more diverse suite of credit solutions to help them access and manage their purchases,” RCS CEO Regan Adams said in a statement on Monday. Account holders on this platform can also gain access to exclusive promotions across a range of online stores, which include Takealot.com, iStore, Incredible ConnectionWith the acquisition of Mobicred, RCS said it would accelerate its growth into the e-commerce ecosystem by adding new brands to its network.
Competition to attract consumers remains intense in the retail sector, which is still recovering from the fallout of the pandemic.
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