firm SeaMoney to double the 1.3 million SPayLater users in the country to 2.5 million loan customers next year.
CIMB chief executive Vijay Manoharan said the buy-now-pay-later transaction volume in the Philippine e-commerce ecosystem was projected to reach $2.5 billion by 2026 as the bank aimed to further democratize access to BNPL financing options. Manoharan said the partnership would power SeaMoney’s buy-now-pay-later product SPayLater as a credit solution to Shopee users in the Philippines.
“As one of the country’s biggest digital banking services providers, we are thrilled to work with SeaMoney to power SPayLater on Shopee, the biggest e-commerce platform in the country,” he said. SPayLater enables eligible Shopee users to purchase items today and pay for the same in tranches at a later date. Users can easily do so by selecting SPayLater as their mode of payment on the Shopee platform and can use the same for multiple items in one basket.CIMB Bank will also subsequently offer exclusive savings rates to the SPayLater customers.
Source: Financial Digest (financialdigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CIMB Bank to double loan offers next year - BusinessMirrorCIMB Bank Philippines Inc. expects to double the amount of loans it extends to Filipinos next year on the back of the encouraging performance of its loan portfolio this year. The country’s 33rd-largest bank by asset said it has disbursed this year about P25 billion to its borrowers, double what it provided in 2021. The
Source: BusinessMirror - 🏆 19. / 59 Read more »
World Bank: Philippines made significant progress in cutting poverty, but inequality remains highThe Philippines has made significant gains in reducing poverty, but income inequality remains high with the super-rich capturing a substantial portion of the national income, multilateral lender World Bank said in its latest report.
Source: gmanews - 🏆 11. / 68 Read more »
Philippines’ wealth gap widens despite reduced poverty – World BankThe World Bank report found that the Philippines’ middle class population has expanded to nearly 12 million people, while the “economically secure” has risen to 44 million. 😢 jcpunongbayan No sh*t Sherlock. 😂 Bong Bong government 👎🐍😈👺 neglecting NEEDY CLASS focused on the Rich/Middle Class KLETOCRACY GOVERNMENT CORRUPTION AGENDA
Source: rapplerdotcom - 🏆 4. / 86 Read more »
CIMB announces partnership with Shopee’s 'Buy Now, Pay Later,' unveils 12% promo interest rateDigital banking services provider CIMB Bank Philippines on Thursday announced a partnership to provide credit to local users of e-commerce platform Shopee.
Source: gmanews - 🏆 11. / 68 Read more »
World Bank: Gendered social norms hold back PH economic growthMANILA, Philippines — Gendered social norms held back the Philippines&039; economic growth as it prevented more women from participating in the labor force, said a World Bank report released on
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Palace says Vietnam commits strengthened ties with PhilippinesMalacañang said Vietnam has committed to work closely with the Philippine government in terms of various areas, including food security, climate change, defense, and food supply.
Source: gmanews - 🏆 11. / 68 Read more »