The Robocash group has deployed the UnaCash personal loan application in the Philippines.
UnaCash allows customers to get credit online and borrow up to $ 600 (£ 440) for one to six months.
The maximum loan amount will be increased to $ 2,000 for the foreseeable future, said Robocash Group. Borrowers can repay the loans online or offline through one of the partner banks or a partner point of sale.
UnaCash has partnered with the six largest banks in the Philippines and will soon begin accepting refunds online from any bank account and launch recurring payments with special privileges for its customers.
This is the latest expansion of the Robocash group’s operations in the Philippines. In December 2020, it launched UnaPay, offering an immediate payment product, subsequent payment, and salary-linked loans.
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“We see the great potential of the market in the Philippines,” said Sergey Sedov, Managing Director of the Robocash Group.
“Right now, 63.3% of Filipinos have a cell phone. As of May 2021, 80.2% of registered Filipino adult internet users had purchased something online.
“This is a very engaged mobile audience with rapid growth in e-commerce in the region. However, there are still a significant number of customers in the region without a strong credit history, which means that many people are unbanked. In 2019, 71% of the population did not have a personal bank account and around 15% were underbanked.
“By focusing on the customer experience, we aim to provide a better financial infrastructure. Integrating all of our services into UnaBank will allow us to create an efficient ecosystem and deliver even better value to our customers.
In August, Robocash Group announced that it achieved a 152.5% year-over-year increase in revenue to $ 144.4 million (£ 104.4 million) in the first half, as it declined preparing to expand into new markets and products.