Tuesday, July 23, 2024

Buy-Now-Pay-Later app touts new features, intros Kim Chiu as brand endorser

BillEase, the Buy Now, Pay Later (BNPL) and consumer finance app, held its first media conference last June 18 to discuss its financial solutions and to welcome a brand ambassador.

The BillEase app features no credit card and no top-ups required before getting a credit limit, which can be spent in more than 10,000 partner merchants. 

Kurt Molina, head of merchant products, also unveiled its collaboration with QRPH, giving BillEase users to access to over 600,000 QRPH merchants nationwide. Aside from just shopping, BillEase could also be used to pay bills, buy mobile load, and top up e-wallets.

With a sign-up process that takes less than five minutes, BillEase offers an initial credit limit ranging from P2,000 to P10,000, depending on the credentials of users and would go up if they are consistent with payments.

For flexible payment options, the app offers up to P2,000 credit limit with 0% interest, and 3 to 6-months installment plans, which users could set in the app, without any hidden fees. 

BillEase has partnered with several payment channels to allow payment of bills via over-the-counter (OTC), e-wallets, online banking, and bank transfer.

It also has the Limit Boost feature, which gives users a higher spending amount, or approved limit, for certain transactions that could go up to P150,000.  This feature doesn’t require any down payment, only that users should have an available credit limit equal to 2% of the product’s total amount.

BillEase chief finance officer Garret Go said the app stands out from other credit and loan apps due to its low interest rates and flexible installment terms, making it a good option for those just starting to establish their credit score.

The app offers a secure finance management experience as it is registered with the Securities and Exchange Commission (SEC) and supervised by the Bangko Sentral ng Pilipinas (BSP). 

Go showcased the platform’s 99% automation rate for easy access and faster transactions.  This, he said, is what makes over one million BillEase users trust the app.  Currently, the app has a loan portfolio of P3 million, and hopes to increase it by 50% by the end of the year.

To cap off its first media event, BillEase chief marketing officer Jose Fernandez introduced the app’s new brand ambassador, Kim Chui. 

With the official signing of Chiu’s contract, the app said Chui’s image would amplify BillEase’s message of financial empowerment and accessibility.

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