Home Credit Philippines received the Highest Consumer Credit Card Growth in 2021 in the recently concluded Visa Annual Awards.
Despite the risks posed by the ongoing global pandemic, Home Credit, the country’s leading consumer finance technology company, still stood out with an eighty-nine percent (89%) growth of credit card customers versus 2020. Considered the highest in the industry among other banks and credit card issuers in the Philippine market, Home Credit’s outstanding performance in 2021 is a confirmation of their continuous pursuit of providing topnotch products and services to all Filipinos.
“The credit card market in the Philippines is known to be highly competitive and to emerge as the leader in the industry is a huge privilege. We are grateful to Visa for this recognition and the long-standing partnership throughout the years,” said Petr Lukosz, Chief CRM Officer of Home Credit Philippines.
Home Credit is the first and only non-bank institution to issue a credit card with the goal of serving the unbanked Filipino market since 2018. As a pioneer in the consumer financing and buy now & pay later space, the company constantly innovates to support Filipinos in conveniently paying for their daily shopping and spending needs. With this they also introduced the first QR-enabled credit card to provide a safe, contactless, and cardless payment option for their consumers, just a little over a year ago.
In comparison to the previous year, the company saw an even greater increase in the volume of mobile payment and credit card usage amongst their clients in 2021.
“We believe that the growth in our credit card base spending was largely driven by how well our consumers have already adapted to a more digital, secure, and flexible payment method for their daily transactions. Majority of our clients have used their card for at least 6 consecutive months, and they made a minimum of 7 transactions within that period,” Lukosz noted.
He also added that Home Credit’s ongoing efforts to educate the public on the benefits of using cashless or digital payments, such as credit cards, will continue as they gladly take on the role of being the Filipino consumers’ trusted partner for their buy now, pay later shopping and other financial needs.
With Home Credit Card, cardholders can enjoy exclusive perks and benefits such as special rewards and promos, low interest fees, and no additional fees for bills payment. For more details, go to https://homecredit.ph/credit-card/.