Mobile users gain easier access to consumer micro loans

MANILA, Philippines - Voyager Innovations and Bulgarian-based finance technology company Cash Credit are collaborating in bringing easier and more convenient consumer micro loans to mobile subscribers in the Philippines.

Under the strategic deal, Voyager Innovations will be using Cash Credit’s proprietary credit scoring system to offer Filipino consumers quick credit decisions, with convenient service and billing through Voyager and Smart Communications Inc. and Sun Cellular.

Voyager Innovations president and chief executive officer Orlando B. Vea said this is about technology extending an economic lifeline to the great majority in emerging markets.

For his part, Cash Credit founder and chief executive officer Georgi Krumov said that Voyager Innovations has a clear vision and commitment in the role of financial technology platforms in providing people with access to consumer micro loan services. “This partnership will help us expand our reach,” Krumov added.

Meanwhile, Voyager Innovations vice president and head of financial innovations, digital inclusion and alliances Lito Villanueva said the partnership provides the informal sector access to finance through their mobile devices which is part of their commitment in promoting inclusive growth and development.

Voyager Innovations is the digital innovations unit of PLDT and Smart.

Cash Credit partners with platform providers like Voyager Innovations and mobile network operators in bringing micro consumer loans.

The partnership is in line with the vision of Voyager Innovations, together with affiliate unit PayMaya Philippines (formerly Smart eMoney Inc.), in further promoting digital financial inclusion among the unconnected, unbanked and uncarded segments of the population through mobile and digital technologies.