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Optimism in PH Consumer Finance Sector Remains High

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Optimism in PH Consumer Finance Sector Remains High

Published on 15.01.2017


Home Credit PH

Increasing demand from unbanked, middle class segments cited as drivers of growth

With business optimism in developed and emerging markets in Asia-Pacific reported to be diverging, a Prague-based consumer finance company is keeping a positive outlook on the Philippine market as it ushers in 2017.

Home Credit, a company that offers in-store financing of smartphones and household appliances, noted that the Philippines’ fast-expanding middle class segment and young working population, along with its sizeable unbanked sector, all point to an even higher demand for financial opportunities outside of the traditional banking system.

“We are continuing to see a remarkable increase in demand for smartphones and other goods here as the local economy continues to grow, and for many Filipinos, this also goes hand in hand with a demand for affordable and accessible financing,” noted Home Credit Philippines CEO Annica Witschard.

“When you add in the Philippines’ low credit card penetration and 70% unbanked rate to the equation, then you have a very unique market, one that offers tremendous potential,” she added.

Witschard said that since Home Credit’s arrival in the country in 2013, the company has quickly seen much of this potential turn into actual gains, as it crossed the 500,000-customer mark in December 2016. From their previously reported 280,000 customers in July 2016, this means a two-fold increase in customer base in less than half a year.

“Aside from the unique conditions of the market, our continued expansion in Q3 and Q4 last year to more provinces played a crucial role in hitting our numbers,” explained Witschard, noting that Home Credit is now in over 1,500 partner outlets in 20 provinces in the country. Baguio and Iloilo are among the latest additions.

“This expansion also means a win-win situation with our partners, as we work together to help consumers avail of popular smartphone models and other high-demand products. We’ve already seen tremendous boosts in loan volumes for partners such as Samsung and OPPO, so there is very good reason to be bullish,” she added.

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New Year, New “You”—and New Samsung 0% Promos, Too!

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New Year, New “You”—and New Samsung 0% Promos, Too!

Published on 15.1.2017


Samsung phones

Continue to feel the holiday cheer this 2017 with Home Credit’s latest 0% interest promos for Samsung smartphones

After all the celebrations and merry-making during Christmas time, the New Year brings brand-new opportunities for change—from long-overdue resolutions to simple changes in our day to day lives. Sometimes, even the simplest change can feel like a breath of fresh air. And that’s true for smartphones, too—especially when you can get them at affordable zero interest installments!

Whether you’re an avid traveler looking for a splash-proof phone, a yuppie looking to take the perfect selfie, or simply not quite done yet with Christmas shopping, consumer finance company Home Credit has you covered, with an exciting selection of 0% interest promos with smartphone giant Samsung to usher in the New Year.

The Galaxy A7 and Galaxy A5 get flagship upgrades in 2017

Two of Samsung’s best-selling premium models have fresh new upgrades to welcome 2017. The 5.2 inch Samsung Galaxy A5 (2017) and its 5.7 inch big brother Galaxy A7 (2017), priced at P19,990 and P23,990, respectively, both sport full-HD super AMOLED displays, and are encased in a metal frame with a 3D glass back, giving them the uber-premium look and feel of Samsung’s flagship models at more affordable prices. The new 2017 models are excellent choices for those with active lifestyles, as they are certified IP68 for water and dust resistance, and can be submerged under 1.5 meters for up to 30 minutes. Plus, with the front and rear 16-megapixel cameras, expect top-notch images for both selfies and scenery.

These two models are can be availed from Home Credit at nine-month installments at zero interest, in all Home Credit partner stores offering Samsung phones, from January 28 – March 25, 2017.

The crowd favorites – Galaxy J7 Prime and Galaxy J7 (2016)

For those looking for even more affordable options from Samsung, they can also take a look at crowd favorites Galaxy J7 Prime at P13,990 and Galaxy J7 (2016) at P11,990, also being offered by Home Credit at 0% interest installments for six months.

The Samsung Galaxy J7 Prime features Premium Design and Prime Performance. The powerful 3GB RAM device is housed in a stylish, metal unibody design with 2.5D Gorilla Glass 4, a 5.5” full HD screen, and a 13MP rear camera with F1.9 lens, to ensure bright images even in low light conditions. Meanwhile, the J7 (2016) features Signal Max for wider signal coverage, Ultra Data Saving for optimized mobile data usage, and Ultra Power Saving Mode for power when you need it the most. Home Credit’s 0% promo for these models runs from January 21 – March 5, 2017.

“The Christmas season was definitely an exciting time for us and customers alike, as we offered 0% promos for various products,” remarked Home Credit Head of Sales Adam Bernasek. “With January coming in, we know for sure that the demand is still there for people to have something new to welcome a brand new year. Home Credit and Samsung are more than happy to meet this demand with our latest 0% interest promos.”

For more information on the promos, visit

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Cash is Still King in PH, but Other Options on the Rise

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Cash is Still King in PH, but Other Options on the Rise

Published on 14.12.2016


Credit cards now just third option when buying gadgets in PH.

New survey reveals increasing popularity of in-store financing as payment options, comparable to credit cards; gadgets are still the top gift choice for Christmas.

In a country where only 5% of the population has a credit card, it’s no surprise that cash is still the top mode of payment. But what might come as a surprise to some is that credit cards are no longer the only popular alternative to cash.

The new alternative? In-store installment financing, which is seeing a fast increase in adoption from Filipino shoppers hungry for 0% interest deals along with easy and fast approvals.

A recent study by consumer finance company Home Credit Philippines reveals the increasing preference for installment financing in the Philippines, showing it to be the 2nd top choice for payments among respondents when shopping, next only to cash, and slightly ahead of credit cards.

According to the survey conducted in one of the country’s biggest malls, 80% of the total respondents will pay in cash if they had enough budget or resources, while 11% will apply for a financing/installment loan, followed by credit cards (9%).

Gadgets still the top choice for gifts
While the rankings for payment options may have changed, shoppers’ gift buying (and gift receiving) preferences remain the same. Almost half or 39% of the respondents—including married and single men and women—cited gadgets as their most preferred gifts this Christmas season, followed by appliances and cash. On the other hand, 38% prefer to give their loved ones shoes and clothing as presents for the holidays.

For single respondents, there were striking similarities in preferred gifts, with both males and females opting to receive high-tech gadgets as Christmas presents. On the other hand, the study revealed that 32% of married respondents preferred Christmas gifts that would be more useful in the household. Majority are inclined to receive appliances (32%), followed by gadgets (29%), from their loved ones this Christmas.

With most of the respondents typically buying gifts through full cash payments, more than half of all respondents allocate a budget of almost a fifth of their monthly salary for gifts, with some even allotting almost half of their total monthly income for shopping.

While shoppers have different gift preferences and spending habits, consumer finance groups such as Home Credit help many Filipinos purchase gadgets and appliances through convenient and affordable payment terms—thus freeing up more of their budget during the expense-heavy holiday season.

“The preference for gadgets doesn’t come as a surprise, considering the increasing smartphone and internet penetration in the Philippines. And when it comes to purchases, budget is always a consideration, even more so during the holidays,” said Annica Witschard, Home Credit Philippines CEO.

“This is where consumer financing services such as ours can help. Through installment financing options, especially the 0% interest offerings, Filipinos can have a much easier time in managing their budgets—so they have more than enough budget left for Noche Buena and other holiday activities.”

Home Credit Philippines offers affordable loan installments for gadgets, appliances and other electronics in over 1,500 stores of 220 retail partners across key cities and provinces such as Metro Manila, Cebu, Pampanga, Batangas, Cabanatuan, Baguio and Iloilo. Since it was established in the country in 2013, Home Credit has already served over 500,000 customers.

“Our aim is for greater financial inclusion in the Philippines, and we at Home Credit are focused on offering affordable loan installments that can help consumers,” Witschard added.

Survey source: Credit cards now just third option when buying gadgets in PH

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