Salmon Expands Physical and Online Loan Repayment Optionsby Fintech News Philippines August 29, 2023
Philippines’ consumer fintech Salmon has made it easier for its customers to repay their loans.
Salmon launched repayment channels with five institutions, including MLhuillier and SM Bills Payment Centers (SM Stores), that will provide new loan repayment locations.
The fintech has added 3,070 new in-person repayment locations, a 56% increase from 5,500 7-Eleven and Cebuana Lhullier stores, already available to customers before the new partnerships were signed.
Customers can generate a reference number or barcode in the Salmon app and then use it to make payments at these locations.
Alternatively, customers can make also payments online and will be redirected to a partner bank’s page for login, receiving a one-time password (OTP) and payment confirmation.
Payments can now be made via Unionbank, the Bank of the Philippine Islands (BPI), Rizal Commercial Banking Corporation (RCBC), as well as by using G-cash and Maya e-wallets.
Raffy Montemayor, Co-founder and Business Head in the Philippines at Salmon said,
“We are delighted to have expanded our partnerships with these esteemed financial institutions, making it very easy and convenient for Salmon customers to make their loan payments in person or online.
This step marks another important milestone for Salmon, as we bring transparent and convenient services to ordinary Filipinos across the country.”