Salmon Users Can Now Pay Bills on the App with the New Auto-Debit Feature

Salmon, one of the growing financial technology startups in the Philippines, has just introduced an auto-debit feature for its credit products. This would now allow consumers to link their GCash, Maya, UnionBank, or Bank of the Philippines (BPI) accounts to the app, paving the way for easier and more convenient payments. According to the fintech, it is looking to further the range of its partner banks down the line.

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“Salmon is committed to changing the direction of finance,” Raffy Montemayor, co-founder of Salmon, said. “In today's fast-paced world, convenience is a necessity. Auto-debit enhances our customers’ experience by simplifying the repayment process and ensuring timely payments without the hassle of manual interventions.”

Through the newly rolled out feature, Salmon users will be notified prior to their due date about their upcoming payments, which will automatically be processed. They will receive push or SMS notifications confirming the transaction. For consumers, this removes the inconvenience of switching applications and transferring funds from one account to another in order to pay their bills on the due date.

Salmon initially started with “buy now, pay later” offerings in 2022, but has quickly gained momentum to expand into other financial products, including consumer loans and revolving credit lines. Its growth was reinforced by its acquisition of a controlling stake in the Rural Bank of Sta. Rosa in Laguna—allowing it to become a licensed bank in the Philippines. Salmon, backed by Abu Dhabi’s sovereign wealth fund ADQ, caters to both merchants and customers, with minimum requirements for identification and down payment, as well as an approval time of as fast as 10 minutes.