Fintech company taps retailer to launch online loan product

CEBU, Philippines —  Filipinos can now easily avail of a legitimate credit facility online following the introduction of Skyro’s  “Online Product Loan” facility.

Introduced to the market in partnership with MemoXpress, an electronic retailer in the Philippines, the new collaboration marks Skyro’s first online product loan partnership, significantly enhancing accessibility and convenience for customers seeking flexible payment solutions.

“By integrating Skyro’s services seamlessly into our checkout process, we are empowering our customers with greater flexibility and control over their purchases. Our partnership aims to elevate the customer’s shopping experience and prioritize their satisfaction,” said Edward Tan, vice president of operations at MemoXpress.

“We believe that this collaboration with Skyro will not only drive sales but also build stronger relationships with our customers by offering them the financial flexibility they need,” he added.

This partnership offers customers a fast and easy way to complete transactions. By integrating Skyro’s Online Product Loan service into MemoXpress’s checkout process, customers can browse through the expansive catalog of electronics and make purchases from the comfort of their own homes.

“This collaboration exemplifies our mutual commitment to advancing the e-commerce landscape. We are happy to partner with MemoXpress, a leader in the electronics retail sector, to provide more Filipinos with access to our innovative online point-of-sale loan product,” said Skyro co-founder and co-chief executive officer (CEO) Nasim Aliev.

According to Aliev, Skyro’s Online Product Loan is a game-changer for Philippine merchants eager to boost their sales and make their products more accessible to Filipino consumers. Offering customers the option to split their payments into manageable installments, much like BNPL (buy now, pay later) makes more Filipinos confident in purchasing when shopping for the items they need and want.

Moreover, the flexibility in payment options appeals to different types of shoppers, driving increased website and store traffic and nurturing customer loyalty and repeat business.

Skyro’s Online Product Loan solution gives Philippine merchants a significant competitive edge. This also empowers merchants to distinguish themselves by catering to the evolving preferences of consumers who value payment flexibility, added Aliev.

With the added advantages, merchants can easily add this feature by seamlessly integrating with Skyro for FREE, and get upfront payments without worrying about credit risks, while customers enjoy a smoother checkout experience, leading to a happier and more positive customer experience.

Skyro is a fintech company duly licensed and supervised by the Securities and Exchange

Commission (SEC) offering a range of digital consumer finance products such as product loans, cash loans, and other lending products designed to meet the diverse financial needs of Filipino consumers.

Launched in August 2022, Skyro has since grown to encompass over 2,500 partner merchant stores and serves nearly 200,000 customers in just under two years of operations in the country.