Salmon Credit grants customers easy and flexible access to credit, funding their daily spending needs without requiring a separate loan application for each purchase. Customers will see their initially awarded credit limit increase as they make more purchases and repayments with Salmon Credit, subject to certain conditions being met. This new product will initially be available exclusively to existing Salmon customers and will later become open to the general public as well.
Salmon Credit customers will be able to either instruct Salmon to disburse their available limit to any Instapay-enabled bank account or e-wallet, or make payments at locations accepting QR Ph, including those of GCash, PayMaya and many others, which are widely used by millions of Filipinos.
Officials from Salmon said the launch of Salmon Credit marks a significant milestone. The Salmon App now offers many interactive features to make it simpler for existing customers to get, use and repay credit. This product has integrated QR Ph payment functionality and can be accessed via the Salmon App. Salmon Credit is particularly well suited for the Philippines, where merchants enabled to process QR Ph purchases outnumber those with Visa/Mastercard terminals by a factor of 10:1.
Convenience: With all account information and payment features available in the mobile app, Salmon's credit line represents our ongoing commitment to delivering and expanding advanced digital solutions that ensure a simple and transparent customer experience;
QR Ph Code Integration: Through a partnership with QR Ph, our mobile app's QR code functionality simplifies payments, streamlining the financial transaction process for our users. QR Ph is the Philippines’ QR code standard, developed with security and convenience in mind to standardise the use of QR codes, which are widely used in the Philippines;
Improved User Interface: The Salmon App guides applicants through the credit application process via helpful in-app hints and prompts, ensuring a seamless user experience;
Personalised Limits: Salmon's AI/ML-powered credit engine assigns credit limits tailored to each customer's financial situation, underscoring their commitment to sustainable lending;
Flexible terms: Salmon provides customers with an interest-free grace period, allowing them to settle debts before generating a monthly statement.
The augmented user experience is made possible by Salmon’s data-centric approach and AI, which helps them to better understand their customers and set personalised credit limits for them that evolve with customer needs.
Salmon is a financial technology company committed to simplifying financial management. With a team of experts and cutting-edge technology, they aim to provide accessible financial services to Filipinos, creating jobs and empowering customers to focus on what matters most.
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