Digital lending company Skyro is expanding beyond installment financing with a reusable credit line of up to P100,000, a customizable cashback program, and a virtual card in development as it targets more everyday consumer transactions in the Philippines.
The company introduced the expanded services during its Skyro Mooove! event at SM Mall of Asia on October 18, following a brand refresh that adopted the tagline “NaturallyYours.”
At the center of the expansion is SkyroCredit, a revolving credit facility that lets eligible customers use their available credit for purchases such as groceries, medicine, and school supplies.
It supports QR PH payments at more than one million participating merchants nationwide, allowing customers to make multiple transactions without applying for a separate loan for each purchase.
SkyroCredit also offers a cashback program that lets users choose from seven spending categories each month. Eligible transactions can earn up to 30% cashback, with education among the categories offering the highest rate.
The company is also developing the SkyroCredit Virtual Card for online shopping and contactless payments. It has yet to announce a launch date.
The new credit line complements Skyro’s existing Product Loans for purchases such as appliances, televisions, and laptops, as well as Cash Loans that provide borrowers with access to cash.
Skyro also offers Flexi, an app-based feature that allows eligible customers to adjust loan terms, including payment amounts and due dates. Some financing programs offer zero interest or zero down payment, depending on borrowers’ credit profiles and repayment histories.
For SkyroCredit, customers who settle their obligations on time may avoid fees during the first 45 days, subject to applicable terms. Skyro uses risk-based assessments to determine eligibility, interest rates, and financing offers.
The company is also targeting growth outside Metro Manila, with Mindanao identified as its largest regional market. Skyro officials attributed adoption in the region partly to demand for formal financing and borrowers’ repayment behavior.
With SkyroCredit, the company aims to reach more customers in Metro Manila, Cebu, and Davao while continuing to serve provincial markets.
Since entering the Philippines in 2022, Skyro has recorded more than seven million registered users and over three million loan transactions. Its retail partner network has grown to more than 12,000 locations nationwide, according to figures presented at the event.
Skyro chief operating officer Ira Franco said the company wants to expand its role beyond financing individual purchases.
“We want to be more than something customers turn to for that just one single purchase. And we want Skyro to be there to be part of more moments in your everyday lives,” Franco said.
