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June 23, 2024

Home Credit eyes 10 million users by year-end

Home Credit Philippines, a financing company that provides buy now, pay later services, aims to reach 10 million users by the end of 2023 after reaching 9.3 million last year.

“Our goal of a financially empowered Philippines comes true every year, one customer at a time. In our 10 years of service in the country, we aim to empower 10 million customers by the end of 2023 and continue to serve more Filipinos in the years to come,” Home Credit Philippines Chief Executive Officer David Minol said in a statement on Thursday.

Meanwhile, Home Credit Philippines Chief Sales Officer Puneet Suneja said that in addition to not increasing the interest rates on any of its products over the past few years, the company has increased the number of products available with 0% interest.

Home Credit Philippines Treasurer Zdenek Jankovsky added that providing loans to customers who cannot afford to pay is the company’s responsibility as a lender.

The company also offers financial literacy efforts through its employees, community and organization partners, and students.

Home Credit Philippines entered the Philippines in 2013 and is licensed as a financing company and supervised by the Securities and Exchange Commission and the Bangko Sentral ng Pilipinas.

According to the company, it has already provided over 1.8 million in cash loans to date, with 15,000 partner stores now across 75 provinces.

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