The Securities and Exchange Commission (SEC) has halted the operations of Microdot Lending Corp. for running several unreported online lending platforms (OLPs) and engaging in unfair online debt collection practices.
In a statement, Digido said these unauthorized branches were merely “exhibit booths” that were not permanent and therefore “cannot be treated as branches under existing laws and regulations”.
UnaCash, the credit-based app introduced by financing firm Digido Finance Corp. in December last year, is setting its sights on driving growth opportunities within the Filipino financial products and services market and will soon be introducing new features and capabilities in its mobile platform that can cater to a wider range of customers.
