Robocash Group has boosted in presence in Asia by launching its buy now, pay later service UnaPay in the Philippines.
The new service will allow the group’s customers to offer instalment plans for online and offline shoppers in the Philippines.
The company said that the service will allow users to make purchases on the Lazada e-commerce platform with up to 12 instalments due every two weeks.
Users can also apply for a virtual credit amount of up to £467.1 on UnaPay, the company added.
The approval process will take five minutes, the company claims.
Once approved, the funds will be credited to the customers’ Lazada e-wallet within 24 hours.
Robocash Group CEO Sergey Sedov 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.”
Robocash said that it plans increase the number of active merchants using UnaPay, which may touch several hundreds by the end of next year.