Vaughn Hechter, Head: Customer Services for NuPay and Delter.

NuPay and Delter are proud to announce the launch of a brand new, exciting product – FinTech NuCover. Through the FinTech NuCover solution, NuPay/Delter customers will now have the opportunity to offer their customers credit life as well as funeral cover policies.

One of the main reasons behind developing this solution is centered around providing the NuPay/Delter customer base with the opportunity to safeguard their businesses by:

  • Covering their business against losses in the unfortunate event of a death of  one of their customers.
  • Generating an additional revenue stream for the business to boost income while NuPay/Delter does the work for them; and
  • Covering the insured and their family for funeral benefits and adding value to the family in their time of need.

Although there are several other insurers in the industry that offer varying funeral cover options to their customers, the FinTech NuCover funeral policy option is unique in that it does not charge a percentage fee based on the credit extended, as is often the general practice in the market. The policies furthermore are also not linked to the credit, meaning that our customers will continue to earn an income from the policy even when the consumer stops taking credit from them.  NuPay/Delter launched this project to meet the needs of the market with the following in mind:

  • Offering our customer base an insurance policy that is 100% compliant with the National Credit Act (NCA).
  • The policy is in no way linked to the credit extended to the customer
  • Offers a separate credit life insurance that is compliant to the NCA which covers the credit in case of life’s unfortunate events; and
  • Offers our customer base the opportunity to augment their income.

Asked about the benefits that the NuCover solution can offer business owners, Vaughn Hechter, Head: Customer Services for NuPay and Delter responds “NuCover provides peace of mind to customers. Customers will never have to wonder if they will be the target of an NCR audit as a result of offering these insurance solutions to their customers. We have gone to great lengths to consult with legal experts to ensure that the NuCover solution is 100% compliant to the NCA.” As an added benefit, Vaughn mentions that the NuPay/Delter customers who decide to incorporate this Fintech NuCover solution into their businesses will be able to earn an annuity-based revenue irrespective of whether these customers decide to enter a credit contract with them or not.

NuPay/Delter realizes that for many customers this will be an unfamiliar market. We asked Vaughn to share some thoughts for business owners that are considering incorporating it into their service offering: “We’ve got you covered. Our consultants and administrators are well trained, and all components of the system are automated through our integrated solutions. We will also supply all businesses with the necessary marketing material and be there every step of the way. This is an exciting new journey, and we can’t wait to share it with you!”

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