UnaCash expands to 128 branches, seeks more partner merchants

FINANCIAL SOLUTIONS provider UnaCash is looking to expand its partner merchants after recently reaching 128 branches.

“At UnaCash, we are dedicated to ensuring that the value we offer our consumers resonates equally with the benefit we extend to our partner merchants. Looking ahead to 2024, we aim to further amplify our services, projecting more than a 200% increase in our existing roster of partners,” UnaCash Product Head Erwin G. Ocampo said in a statement.

Reaching 128 branches marked a 300% increase since UnaCash upgraded its services to point-of-sale (POS) loans from just buy now, pay later (BNPL) functions.

UnaCash also began expanding to areas outside of the National Capital Region (NCR) such as Bohol, Davao, Pampanga, Nueva Ecija, Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon), and Bicol.

In the past five months, UnaCash has partnered with multiple merchants such as Save ‘N Earn Wireless, Faith Glorious Fit, Laptop Factory, Jhunpyo Appliances Trading, Joneco Tech, Alturas Group of Companies, Jackman, Moto Project.

A recent study by UnaCash saw the gross merchandise value of BNPL transactions surging by 173% by 2024 due to mobile commerce.

This would be faster than the expected 154% rise in BNPL use this year, but slightly slower than the 178% increase in 2021.

The faster rise seen next year could come on the back of an expected 84% growth in the e-commerce market in 2024, which UnaCash said would be driven by increasing mobile commerce usage.

Mobile commerce (m-commerce) refers to transactions done using devices like smartphones or tablets.

“We recognize untapped potential in the market and aim to provide seamless services and accessibility to every Filipino, particularly focusing on the promising younger generation, as their preferences and purchasing power will dictate the outcome of the POS loans in the market in the decade to come,” Mr. Ocampo said.

“This brings laser focus on enhancing our services’ accessibility across multiple areas in the country to meet future local market demands,” he added.