UnaCash, an all-digital cash loan application solution, has expanded to 128 branches in 2023, marking a 300% growth in market presence. This expansion follows the upgrade of its buy now, pay later (BNPL) services to point-of-sale (POS) loans in July.
Starting strategically in the National Capital Region (NCR), UnaCash expanded into regional areas like Bohol, Davao, Pampanga, Nueva Ecija, CALABARZON, and the Bicol region. This move aligns with UnaCash’s “phygital” approach, blending digital and traditional channels to serve consumers, especially in regions facing digitalization challenges.
“We recognize the 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,” said Erwin Ocampo, head of Product at UnaCash.
UnaCash now offers point-of-sale loans
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Over the past five months, UnaCash partnered with various merchants, including Save ‘N Earn Wireless, Faith Glorious Fit, and Jhunpyo Appliances Trading, among others, broadening its portfolio and service offerings.
Research indicates a 173% surge in Gross Merchandise Value (GMV) of BNPL transactions by 2024, driven by increased mobile commerce penetration in the Philippines.
“Looking ahead to 2024, we aim to further amplify our services, projecting more than a 200% increase in our existing roster of partners,” Ocampo said.