UnaCash, an innovative in-app and in-store financial solutions provider, proudly announces that it has expanded its presence to 128 branches by the close of 2023, representing a remarkable 300% increase from its initial count since the recent upgrade of its buy now, pay later (BNPL) services to point-of-sale (POS) loans last July.
Driven by its unwavering philosophy, UnaCash began its strategic expansion in the National Capital Region (NCR) and is progressively extending its reach through regional areas such as Bohol, Davao, Pampanga, Nueva Ecija, CALABARZON (Cavite, Laguna, Batangas, Rizal, and Quezon), and most recently, Bicol region. This expansion is instrumental in addressing regions where digitalization remains a challenge, underscoring UnaCash’s “phygital” approach—leveraging a blend of digital and traditional channels—to effectively cater to consumer needs.
In the past five months, UnaCash has proudly welcomed numerous partner merchants, including Save ‘N Earn Wireless, Faith Glorious Fit, Laptop Factory, Jhunpyo Appliances Trading, Joneco Tech, Alturas Group of Companies, Jackman, Moto Project, and more, expanding its portfolio and rolling out services seamlessly.
“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,” head of product Erwin Ocampo said.
Recent research from UnaCash identified a 173% surge in Gross Merchandise Value (GMV) of BNPL transactions by 2024, widely driven by the rise of mobile commerce penetration in the Philippines.
“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. This brings laser focus on enhancing our services’ accessibility across multiple areas in the country to meet future local market demands.” Ocampo added.
UnaCash’s immediate impact has already been recognized by prominent award-giving institutions in the banking, finance and technology space. The platform was recently named the Philippines’ “Fastest Growing Omni-Channel Payment Solution Provider for Retailers” by the Global Economics Awards 2023, and as well as the country’s “Most Innovative BNPL Solution” and the “Best Omni-Channel Payment Solution Platform” by the Global Business Outlook Awards 2023.
Earlier, the Global Payments Innovation Awards 2023 recognized UnaCash as “Best B2B/B2C Payments Initiative” while the International Finance Awards 2023 awarded the platform as the Philippines’ “Best New Omni-Channel Payment Solution Platform”.
