Friday, June 14, 2024

National Book Store, BillEase sign financing pact for PH shoppers

National Book Store and consumer finance firm BillEase have announced a new collaboration that is geared towards promoting a cashless society through the adoption of Buy Now, Pay Later (BNPL) services.

Launched in 2017, BillEase is an on-demand consumer finance app that provides personal loans, e-wallet top-ups, prepaid load, bills payment, gaming credits, as well as a  customizable BNPL which allows customers to avail of cardless installment plans.

Through this partnership, BillEase enables hundreds of National Book Store offline branches to offer three cardless installment options at checkout:

  • Pay Later in 10 or 20 days
  • Pay in 4 installments for small-to-medium ticket purchases
  • Pay Monthly over three, six, nine, or 12 months for big purchases with interest rates between 0% and 3.49 percent – the cheapest rate in the country.

Shoppers will be able to scan QR codes using the BillEase app to purchase items and pay over time with flexible installment terms even without a credit card.

“Throughout our 81-year history, we’ve significantly impacted millions of lives with our dedication to education and empowerment,” stated National Book Store executive Adrian Ramos.

“Our alliance with BillEase accelerates our journey, offering our customers financial freedom. Now, they can access essential educational resources and pay on their own terms, mitigating immediate financial pressures.”

BillEase will enable National Book Store’s patrons to shop and pay later in installments. This service requires no credit card, making it accessible to a wider demographic. According to the Bangko Sentral ng Pilipinas (BSP), 7 in 10 adult Filipinos are financially excluded.

“We’re thrilled to join forces with National Book Store and extend our flexible payment solutions to their vast customer base,” Georg Steiger, co-founder and CEO of BillEase, said.

“With this partnership, we’re not only making financial services more accessible, but we’re also underscoring the value of education. By offering an effective means to manage educational expenses, we’re essentially contributing to financial freedom, empowering individuals to invest in their learning journey.”

Aimed at transforming the country into a cash-lite economy, while driving greater financial inclusion, BSP targets to convert 50% of total retail transactions in the country to electronic channels this 2023.

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