Planning to Buy a New Smartphone? You Can Use This For a Loan
Are you looking to replace your smartphone without burning a hole in your pocket? Well, you now have the option to take out a loan for one, thanks to new point-of-sale offerings available in the country. Financial solutions provider UnaCash has partnered with smartphone distributor Comworks, Inc. — offering more choices to consumers.
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Through the UnaCash app, customers may avail of installments for up to 12 months, with as low as zero interest. But, of course, one key qualification is to be a responsible borrower, or a “good payer,” as lenders call it. So, the new offering is only available to existing customers with outstanding credit history.
"With 28 years in the industry, [Comworks] has facilitated the provision of wholesaler telecommunications services and mobile network equipment to meet the needs of the local market," Erwin Ocampo, UnaCash product head, said. "UnaCash is thrilled to advance this partnership. We are confident that we can introduce innovative point-of-sale solutions to meet customer needs and support the expansion of credit accessibility within the Philippines."
UnaCash and Comworks have been working to expand their offerings in the Philippine market, especially now that smartphones can technically be deemed a “necessity.” According to UnaCash, 70.17 percent of purchases made through its app were all for electronics and gadgets.
“This partnership is forged through a shared commitment to meeting the increasing demand for digital innovation and ensuring accessibility to high-quality products and services for all Filipinos,” said UnaCash.
UnaCash, which provides financial services through its app and partner stores, is one of the known "buy now, pay later" platforms in the Philippines. It began expanding its services last month by offering installment loans worth P3,000 to P50,000, with flexible repayment terms of up to one year.
Comworks, meanwhile, operates business units centered on making mobile solutions available to customers. Its smartphone distributors sell products from various top-tier brands, including Apple and Samsung, both online and in-store.
