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Mobicred Payment Guide

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Written by

Patrick Meyer
Patrick Meyer
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Mobicred is changing the way South Africans think about paying for goods and services online. This digital credit facility is safe, secure and simple to use, and it makes playing at online betting sites easier than ever.

Mobicred is the ultimate buy now, pay later system that millions of players across South Africa are using, and you can too!

Find out all about the Mobicred application process, what you need to do to open an account, and how you can use this credit facility to fund your bets.

Mobicred mobile

What is Mobicred? 

Mobicred was founded in 2013, and it’s an online credit facility that allows you to buy products or pay for services online without paying the total amount owed upfront. Instead, the total is divided into 6-12 monthly payments, which are paid over the chosen time period until the payment is complete. 

Similar to a credit card or a revolving credit plan, Mobicred is not just available in South Africa; it's also available internationally. Locally, you can use this credit facility at over 4,000 Mobicred stores, and you can make a deposit using the funds from your Mobicred account at online gambling sites.

How Does Mobicred Work?

To open an account, you need to fill out a Mobicred application online. You’ll need: 

  • A valid identity document 

  • Be over 18 years of age

  • Have a valid bank account in your own name

  • Valid mobile number 

  • Valid email address 

  • A minimum salary of R5,500 per month 

As long as you have a provable income and can verify the required details, your Mobicred application should be successful, and you’ll know the outcome in one working day. As soon as you’re approved, you’ll create your Mobicred login and can start playing for real money online. 

What are the different Mobicred payment methods? 

The main way to make Mobicred payments is by using a debit card. This allows for a smooth and simple monthly payment. 

When you select Mobicred to facilitate your credit payments, you’ll have the option to provide your debit card information. Once you’ve entered it, you’ll sign up for a set of future payment instalments that will automatically be deducted from your bank account every month for 6-12 months, depending on the length of time you have selected. 

If you have any outstanding payments overdue by the end of your allocated time period, you can pay for them with an instant EFT. Mobicred can also be used with trusted payment apps such as PayFast, PayU, Sanlam, and Mastercard. 

It doesn’t matter which bank you are signed up with. Mobicred accepts payments from most South African banks.

What are the benefits of using a Mobicred payment method? 

Mobicred is making credit more accessible for everyone in South Africa. This buy now pay later system offers many benefits, including:

Convenient and easy to set up 

The sign-up requirements for a Mobicred account are simple and much less stringent than most SA banks’ credit cards. All you need to complete your Mobicred application is proof you’re employed, proof of bank account, and proof you earn a regular income. 

Wide range of stores available 

Mobicred payment methods aren’t just available for a select one or two online stores. There are over 4,000 online stores in total that Mobicred is available on, including: 

  • Takealot 

  • GAME

  • Birkenstock

  • Edgars

  • FILA

  • Toys R’ Us 

  • Cellucity 

  • Samsung

  • Sportsman’s Warehouse

Chances are, your favourite stores are on Mobicred’s list of affiliated brands, which means you can purchase the goods you’ve been eyeing for ages whenever you like.  

Stress-free payments 

Because the Mobicred payment method system is automatic, you don’t need to worry about managing each payment instalment yourself. They’re on a debit order system, so you don’t need to worry about whether you’ve made your payment each month. 

Low transaction fees  

Mobicred charges a transaction fee of 3.5% for every payment from your account to theirs. This low transaction fee ensures that you get to keep most of your money, including your online casino winnings!

How to Use Mobicred at Online Casinos 

Mobicred’s easy credit service makes playing at South African online casinos even easier than ever. Many online casinos have Mobicred listed as one of their payment options so that you can make a deposit in just a few minutes.

To make a deposit at an online casino with Mobicred, follow these steps:

  1. Navigate to the online casino or sportsbook’s Banking or Cashier page.

  2. Choose Mobicred as the payment option (or EFT/Bank Transfer if you’re transferring funds from a bank account that has your Mobicred funds deposited).

  3. Enter the amount you wish to deposit and all other details required.

  4. Verify your payment and confirm your transaction.

  5. Get ready to play for real money!

As long as you have an active Mobicred account, you will be able to make a real money deposit using your credit and repay it at a later date. 

Pros and Cons of Mobicred

To recap, these are the pros and cons of Mobicred as an online casino payment method:

Like IconPros
  • Check IconThe Mobicred application process is simple and quick.
  • Check IconYou can play real money casino games with up to R50,000 credit and benefit from the buy now pay later facility.
  • Check IconProvided you make the minimum monthly repayments, you can continue to use the revolving credit facility.
  • Check IconThe fees are low, and you only need to make one monthly repayment.
DisLike IconCons
  • Close IconYou need a minimum salary of R5,500 a month and a bank account.
  • Close IconYou will have a credit limit that you cannot exceed.
  • Close IconThe interest on Mobicred payments is 22.25% a year and can be adjusted upward if the repo rate increases.

Mobicred FAQs

Question Icon

How long does it take for your Mobicred application to be approved?

Your application takes one business day

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What interest does Mobicred charge?

Mobicred’s interest rate is 22.25%. This is in accordance with the National Credit Act’s interest rate.

Question Icon

How much credit does Mobicred offer?

You could get between R4,800 and R50,000 in credit.

Question Icon

How much do you need to earn to qualify for Mobicred?

You need an income of at least R5,500 a month to qualify for Mobicred.

Question Icon

How many months do you pay with Mobicred?

12 months. When you sign up with Mobicred, you’ll agree to how much credit you’re eligible for, what the interest rate will be, and how much interest and fees you’ll pay in a 12-month period if you use all your available credit.

Author Patrick Meyer portrait
Patrick Meyer

Product Owner and Editor

Patrick is the face of Onlinegamblingsa.co.za - he joined us years ago as a freelance writer and came up through the ranks to become an indispensable part of ...continue reading

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