Wednesday, May 29, 2024

Plentina inks pact with National Book Store for ‘buy now pay later’ credit access

Fintech app Plentina and National Book Store have launched its Buy-Now-Pay-Later (BNPL) program that gives the ability for customers to purchase goods on credit even without a credit card.

“This is a game-changing expansion of our flexible payment options,” said Xandra Ramos-Padilla, National Book Store group managing director. “Not only for National Book Store but also for our ‘Laking National’ customers. We always strive to make our books and supplies more accessible to the public, especially at this time. With Plentina’s Buy-Now-Pay-Later program, more Filipinos can shop safely and easily from National Book Store and make the most of their budget, especially for the back-to-school season.”

Filipinos can download the Plentina app from the Google Play Store, fill out the customer information form, and present one government ID. The entire process takes about five minutes. Plentina will also process the customer’s credit assessment and verify their identity within that time. Upon verification, customers can automatically use their Plentina voucher to purchase from any National Book Store branch nationwide.

“It has always been our goal to unlock the potential of Filipinos through a digital-first financial service infrastructure. Through partnership with large-scale merchants like National Book Store, we are able to provide fast and convenient financial services. This is a huge leap forward for Plentina and BNPL in the Philippines. With this partnership, we hope to reach more Filipinos and enable their financial capacity,” said Earl Valencia, chief business officer & co-founder of Plentina.

Plentina also recently announced that they have already crossed 50,000 downloads, partnering with national retailers such as 7-Eleven Philippines, Smart Communications, and Agoda. Last April, they announced their multi-million dollar seed funding round led by top Silicon Valley and local investors as one of the largest seed rounds for any Filipino-led start-up focused on the Philippines and the region.

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