Lendme Zimbabwe introduces airtime eVouchers

Lendme, the mobile airtime credit startup, was officially launched this week and will allow users in Zimbabwe to borrow airtime. Before launch, users could only register accounts. Lendme has now introduced eVouchers.

The eVoucher system, which has not been fully rolled out because of some service agreements is meant to make repayments of airtime easier for users. So far the startup has used the EcoCash mobile money system, but in a workaround fashion that requires a user to manually send the mobile cash using their phone and then confirm the payment on the Lendme site. Access to the money by Lendme themselves has also been limited as Econet has a cap on the amount of payments they can collect in a given period.

Once the eVoucher system is in place, users of the Lendme platform will apparently be able to access it at more than 400 outlets in the country.

Lendme plans to use the eVoucher system for another web based micro lending project (money not airtime this time) they are working on.

Lendme lends out airtime to users via a web and mobile web interface. Borrowers are given 7 days to pay for the airtime and they do not charge anything for the service as long as you pay them back for the airtime on time.

Lendme enters a market where one mobile operator, Telecel, has started offering airtime on credit, and other operators are said to be considering offering the service too. Telecel however requires that you be a subscriber for at least 3 months before they can let you borrow. The Lendme approval process on the other hand takes mere seconds.

To pay back, subscribers can either the mobile money payment options EcoCash and OneWallet.

While the product's target location is Zimbabwe, the Lendme team of 7 employees operates primarily from an office in the United Kingdom.