International fintech Robocash has expanded its offering with the launch of its first Buy Now, Pay Later service UnaPay in the Philippines.
The Group has also been providing micro-consumer lending services with the focus on Asia, and operating its own P2P lending platform in Europe.
The Buy Now, Pay Later will open new opportunities for the group’s customers, offering instalment plans for online and offline shoppers in the Philippines.
Sergey Sedov, Chief Executive Officer of Robocash Group, commented: “We see a big potential in the new product, as there is a high demand for alternative financial services among Filipinos. More than 50 million people remain unbanked, but many of them need additional funds. For example, our recent survey showed that over 50% of Filipinos borrowed money from family or friends in 2020.
“At the same time, the Philippines has a significant share of smartphone (64%) and Internet (70%) users. It means that most of the population has an opportunity to access financial services online to meet their immediate spending needs.”
UnaPay allows users to make purchases on the Lazada e-commerce platform with up to 12 instalments due every two weeks, boosting commerce efficiency and engagement at a time when it needs it most.