ONLINE lending firm Digido Finance Corp. announced having opened 128 branches by the close of 2023, or a 300-percent increase since the firm upgraded its buy now, pay later (BNPL) services to point-of-sale (POS) loans last July.
A statement by the firm said it aims to further amplify its services, “projecting more than a 200-percent increase in our existing roster of partners.”
The operator of mobile loan application “UnaCash” started its expansion in the National Capital Region (NCR). The firm said through the statement it is beefing up its reach in Bohol, Davao, Pampanga, Nueva Ecija, Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) and, most recently, Bicol region. The firm’s statement credited the expansion as instrumental in addressing regions where digitalization remains a challenge. The firm also credits its “phygital” approach—leveraging a blend of digital and traditional channels—vis-à-vis clients.
In the past five months, Digido has established partnership with merchants, the firm said. The partnerships are based on Digido’s research that reveal a 173-percent surge in gross merchandise value (GMV) in BNPL transactions by 2024. The study said the surge is driven by the rise of mobile commerce penetration in the Philippines.
“We recognize untapped potential in the market and aim to provide seamless services and accessibility to every Filipino, particularly focusing on the promising younger generation, as their preferences and purchasing power will dictate the outcome of the POS loans in the market in the decade to come,” the statement quoted Product Head Erwin Ocampo as saying. “This brings laser focus on enhancing our services’ accessibility across multiple areas in the country to meet future local market demands.”