Mobicred now allows you to pay off your concert tickets online

This is pretty interesting. South African online credit startup Mobicred has teamed up with online ticket seller Nutickets, meaning that you can now pay off tickets for big-cost events rather than shelling out the full amount in one go.

Founded in 2013, Mobicred has been baked into a number of local ecommerce sites, using algorithms to determine a person’s credit-worthiness. It costs about as much as your average middle of the road credit card offered by a traditional bank and is meant to appeal both to people afraid of using a traditional credit card and for those looking for a centralised account that you can access across a number of merchants.

Mobicred’s and Nuticket’s first offering has given Rocking the Daisies attendees the opportunity to pay off their festival tickets. Following a sign up procedure and 24 hours for approval, it’s possible to pay off the tickets for as little as R83 a month.

According to Mobicred, this is the first time an online ticket seller (nutickets) has offered credit to customers buying festival tickets. Going forward, the company says, all ticket sales via the Nuticket platform, will offer the Mobicred option.

According to Mobicred founder Jason Sive, more than 150 merchants are live with Mobicred, with “some of the largest players in SA going live imminently”.