Fintech app Plentina, a Buy-Now-Pay-Later (BNPL) platform for consumers residing in the Philippines, has reportedly teamed up with Shopee.
Residents of the Philippines are able to download the Plentina app and acquire loans for vouchers to buy products via the Shopee app. Plentina’s management noted that it provides loans that have 0% interest as well as a flat service (along with applicable late fees).
Earl Valencia, Chief Business Officer and Co-founder at Plentina, stated:
“As the holiday season approaches, we are very excited to offer Plentina’s fast and convenient buy now, pay later option to Shopee customers to purchase gifts for their loved ones. We believe in responsible borrowing and Filipino customers have been looking for more options to pay on credit beyond the credit card. With its extensive selection of merchandise and its wide delivery coverage, Shopee provides our users access to an amazing assortment of products.”
Consumers in the Philippines may download the Plentina app via the Google Play Store, complete the customer information form, and submit their government ID.
After successful verification, the clients may avail of loan offers, starting as low as P100, and they may also submit applications for a credit boost via the app.
The Plentina app recently surpassed 100,000 downloads since its launch in 2020. As noted in the update, Plentina provides store credit for essential purchases like groceries, medicine, food, and office supplies.
As noted by the Plentina team:
“We aim to unlock financial services to the emerging middle class in emerging markets by using machine learning algorithms. Plentina builds an alternative credit score and app that provides store credit financing to buy essentials like food and medicine. Plentina is currently in the Techstars Western Union accelerator focused on financial access.”
The Plentina team also notes that they have a fast and easy approval process. You may be able to save yourself a trip to get cash, because clients can receive their credit instantly with electronic disbursement.
Customers may load their Smart prepaid number immediately. They can pay for goods at 7-Eleven “immediately by showing [their] CLiQQ e-wallet barcode to the cashier.”
