In the Philippines, consumers have few options when it comes to paying their bills. The consumer finance market is severely supply constrained, with the consumer lending to GDP ratio only 4.3%, compared to a rate of 10% in Indonesia. BillEase aims to fill this void by developing products that will cater to the Filipino middle class. Read on to learn more about the company’s product offerings. BNPL stands for buy now, pay later. It is a consumer finance application regulated by the Securities and Exchange Commission.

BNPL – buy now, pay later (BNPL)

‘Buy Now, Pay Later’ (BNPL) is a fast-growing segment of the Philippine credit market, where e-wallets are rapidly growing in popularity. The penetration rate of credit cards is currently less than 10%. BNPL services have the potential to expand this market exponentially. And, unlike credit cards, BNPL enables consumers to manage their debts in a fair way. Among the most popular buy now, pay later installment loans in the Philippines are which have low non-performing loans.

BNPL companies say that in a market where proper credit scores aren’t yet available, the arduous process is necessary. However, they emphasize that they are not threatening to sue the government or the financial sector. These companies also offer convenient installment payment options. And since they are not BPI-regulated, they may have different privacy policies and security levels. Meanwhile, app is available on mobile devices. BNPL services are also available on a wide variety of partner merchants.

Consumer finance app

Billease is a digital consumer lending company with a focus on Southeast Asia. Their mobile app pera247 is data-driven and offers consumers unsecured short-term loans of up to 90 days. The company is led by Mike Singh, who has over 20 years of experience in the financial industry, including working with leading banks and lending institutions.

The Philippine market is growing rapidly as more people become financially active. As a result, there has been a growth in online lending and mobile wallets. Financial services have become more accessible and convenient, and financial apps are helping people access those services. Moreover, they are enabling people to make payments, save money, and receive loans in real-time. It is no secret that digital payments and lending have become commonplace in Southeast Asia, but the Philippines has been a leader in this space.

Regulated by the Securities and Exchange Commission (SEC)

In order to prevent fraud and abuse, Billease has been regulated by the SEC. Billease offers secure, private, and flexible payment terms. The company also reports its activities to the SEC. Founded in 2006, Billease is a member of the SEC’s Rule 15c-3. It was the first online lending platform to be licensed by the SEC. The SEC regulates the industry, and Billease adheres to its regulations.

Targets the Philippines’ emerging middle class

The Philippines’ middle class is set to exceed the spending power of Italy’s middle class by 2030. The country has a growing tech-savvy population, an exploding digital economy, and an increasingly integrated regional trading network. Digital penetration has reached over 50%, with 67 million people using the internet and more than the same number using social media. This digital culture facilitates online businesses across the region. Billease targets this growing middle class by developing products tailored to the needs of this demographic.

BillEase contacts:

Phone: +63 2 310 0313

Email: [email protected]

Sсhedule: From 9 am to 6 pm (Monday – Friday)