Better installment options for multiple purchases

MOST Filipinos, despite being “digitalized” and always online, still lack quality financial services.

To meet the growing need for financial assistance at the height of the pandemic, the UnaCash app was released in June 2021 to provide seamless access to digital finance and installment e-shopping options.

The app sees a clear demand for high-quality digital solutions for customers who do not have access to financial services. It builds a modern online service to meet many customer needs in one place.

It aims to build long-term relationships with its customers and rely on expanding the long-term product offering; and with the aim of contributing to the initiatives of the BSP (Bangko Sentral ng Pilipinas) and promoting the cashless economy.

Their drive, partnership and key competencies are at the core of what drives the app forward.

UnaCash intends to establish new partnerships and expand its service to the offline market, as well as diversify its product line and services and reach new markets.

Nikita Saigutin, Chief Executive Officer of UnaCash, was instrumental in the idea and creation of UnaPay and UnaCash and presented the main features of the app and its contribution to the needs of the local market.

The digital mobile finance app allows customers to borrow from a minimum of 2,000 to 50,000 pesos, which they can pay in 12 installments for a maximum repayment term of six months.

Once their application is approved, customers can use their approved credits to make purchases in three ways: loans, BNPL (buy now, pay later) and Lazada loan, which was fully integrated into the app in March 2022.

An interesting key feature of the app is its line of credit, which is like a digital credit card that customers can use for cash loans, installments, and Lazada wallet balances.

“We want to use the BNPL even more,” said Saigutin.
“Whenever we grant or approve a credit line, customers can use it to shop at partner dealers with low interest rates of zero to six percent. And when it runs out, all they have to do is pay back their bimonthly amortization and their balance will be refilled,” adds Saigutin, who continues to be a driving force behind the future development of the app.

To use the credit line, customers can select “Buy online” in the app and select the partner retailer. You can add items to your shopping cart and checkout, select payment terms, accept loan documents and continue shopping.

To date, the app has total sales of P65.1 million, a daily average of 7,500 app downloads, more than P350 million total loans, more than 100 partner merchants and more than 700,000 applications in total.

Customers can download and install the app; register their mobile phone number, one-time PIN, password and PIN; Fill out forms and upload documents; wait for validation; and shop with line of credit. Meanwhile, it is available for Android users.

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