Samsung, UnionBank launch app-based financing program

MANILA, Philippines — Samsung Electronics Philippines, in collaboration with Union Bank of the Philippines, has introduced a dedicated payment option for its Galaxy devices in the Philippines.

Samsung Finance+ is an application-based financing program supervised by the Bangko Sentral ng Pilipinas (BSP), which allows customers to buy Galaxy products at zero interest, no processing fees and a downpayment that could reach as low as zero, subject to bank approval.

“Our goal is to provide the opportunity for more Filipinos to experience the Galaxy ecosystem. With Samsung Finance+, owning a Galaxy device is now easier, more accessible, and worry-free than ever before,” Min Su Chu, president of Samsung Electronics Philippines, said.

Customers can apply for loans through Samsung Finance+, available in all Samsung Experience Stores and in over 1,000 partner retailers nationwide.

The new payment option provides several benefits to customers such as accessible credit, ability to upgrade devices and a convenient application process.

The application process, which is also fully digital, takes 20 to 30 minutes. Once the loan is approved, clients can choose the device for purchase through Samsung Finance+.

Samsung also ensures better security through Samsung Knox Guard, which enables protection schemes against theft, loss or financial default while the device is still on loan.

Samsung also said that once the loan is approved, the Samsung Finance+ customer app will automatically be installed in the new device, allowing users easy access to all information regarding their loan such as repayment schedule and other payment options.

Ana Aboitiz-Delgado, incoming president and CEO of UnionBank, said that the bank is delighted to collaborate with Samsung.

“UnionBank is proud to partner with Samsung in making innovative technology more accessible to Filipinos through Samsung Finance+. Together, we are empowering more individuals to achieve their goals and stay connected in a digital-first world,” she said.

Samsung Finance+ is available now at more than 1,000 retailer stores in the Philippines. Customers may now avail themselves of the latest Samsung Galaxy devices for up to 24 months at zero interest.