Smart taps Silicon Valley startup for buy now, pay later option

MANILA, Philippines — PLDT Inc.’s wireless unit Smart Communications Inc. has tapped a Silicon Valley startup for the use of financial technology services that would allow subscribers to pay their load top-up later.

Smart yesterday said that it partnered with fintech provider Plentina to allow Smart users to purchase prepaid load through Plentina’s mobile app.

Under the partnership, customers may access a buy now, pay later service that allows them to take out a micro consumer loan to pay for their load through Plentina.

PLDT senior vice president and head of consumer sales group Alex Caeg said the tie-up widens the payment options that Smart subscribers may choose from when buying their load. He said the collaboration expands the distribution base where Smart can offer its products.

“We welcome Plentina as one of our direct distribution partners. Our tie-up provides a financial service that caters to the broader base of prepaid customers,” Caeg said.

Further, Smart hopes to work with Plentina in opening up loan opportunities for customers who want to acquire a new gadget or phone but can only do so in installments.

“We hope to extend this service to Smart’s retail and device partners so that they can offer more convenient and flexible modes of payment for customers who want to purchase mobile phones or other gadgets from Smart,” Caeg said.

Smart and Plentina are also looking for ways on how to expand their reach in providing access to load, especially as demand for mobile connectivity grows with the rise of online learning and work.

Plentina chief business officer and co-founder Earl Valencia said Smart users may download the Plentina app to avail of the buy now, pay later method. He added that loans taken from the app may be settled depending on the preferred schedule of the borrower.

“Filipinos can download the Plentina app and once they pass the credit scoring they can already purchase load instantly. They won’t get stressed out even when they don’t have available cash. You might not have the money now, but you can load up your Smart mobile phone using credit through Plentina. You can pay later according to your preferred schedule,” Valencia said.