[04 MAY 2017] Cash Credit, a fintech and lending company providing financial services to individuals and microentrepreneurs, together with FINTQnologies Inc. (FINTQ), the fintech arm of PLDT and Smart’s Voyager Innovations, launched today its internationally recognized and award-winning loan service, PERA AGAD, to the Cebu market.

Pera Agad offers a unique and pioneering unsecured loan service for amounts of up to ten thousand pesos (PHP 10,000) and targets predominantly the unbanked and underserved population in the Philippines. The loan process is fully digital and provides Smart Prepaid and TNT subscribers access to financial services, including those who have not previously borrowed from a financial institution.

Cash Credit has established a partnership with FINTQ in the Philippines in order to provide an accessible alternative for financially excluded individuals.

The service uses Cash Credit’s proprietary machine learning algorithm to assess the credit-worthiness of participants who opted-in based on their mobile consumption history and behavior. This unique approach has been successfully tested and launched on three continents across the globe in partnership with mobile operators, in Europe, Africa and Southeast Asia.
The local brand of the service is Pera Agad and it is delivered to the market online and via mobile. Approved loans can be cashed out through selected partner outlets of SMART Padala.

After successful soft launches in Metro Manila and South Luzon, Pera Agad is extending its services in Cebu, offering Cebuanos a convenient and transparent cash loan service.

Pera Agad loans will benefit micro- and-small enterprises and individuals who need cash fast. Applying for a loan is done digitally and approved within minutes. To avail of the service, borrowers who are of legal age need to present a valid government ID. They also have to be a SMART prepaid or TNT subscriber for at least 6 months.

Customers may begin applying for a loan via mobile or at www.peraagad.ph, and collect the loan amount in select Smart Padala Centers around Cebu once approved. Repayment of the loan is very convenient with a long list of partners that include 7-Eleven, Cebuana Lhuillier, Bayad Center, among others.

“Today, we are extremely happy to be in Cebu and to expand further the reach of a service which we all believe can change the way Filipinos access loans. Our advanced big data analytics and technology allows us to proudly state that we can create impact and sustainably grow the unbanked and underbanked individuals, turning them into established borrowers with credit history and economically include them. For us, Cash Credit is a cause in which we deeply believe and is a good example of how lives can be changed by marrying vision, technology and science,” says Diana Krumova, President and Group Chief Commercial Officer of Cash Credit.

“We are excited to see Pera Agad launch here in Cebu. Enabling access to micro-loans via digital technologies through our partners such as Cash Credit is at the core of our commitment at FINTQ to growing financial inclusion by enabling our partners with breakthrough technologies that provide easy and convenient lending opportunities to Filipinos,” said Lito Villanueva, managing director at FINTQ.

The service will be fully rolled-out nationwide by the end of the year and more financial services will be offered in cooperation with FINTQ and its partners.


About Cash Credit
Cash Credit is a Fintech (financial technology) company founded in 2012 currently operating in four countries on three continents (Bulgaria, South Africa, Cameroon and the Philippines). The company partners with various data providers such as telcos, banks and other financial institutions to offer micro credit products to end users and lending scoring technology to financial institutions. Cash Credit provides its partners with two distinct competitive advantages – a unique scoring methodology to acquire new unbanked or underbanked customers or to enhance services to the existing ones and a fully developed ecosystem to disburse and collect the loans.


About FINTQ 

FINTQ is the leader in customer-centric, demand-driven, mobile-first, value-creating, and inclusive digital financial innovations through collaboration across strategic markets with award-winning and pioneering platforms, products and services. It is the largest and the only financial technology business with diverse digital banking and finance portfolio of platforms including lending, security, micro-savings, insurance, disbursements, micro-credit and virtual banking, among others. For more information about FINTQ and all of its products and services, please visit www.fintq.com.