Smart, fintech startup tie up for ‘buy now, pay later’ offer
SMART Communications, Inc. signed a partnership deal with a Silicon Valley-based financial technology (fintech) startup company to provide its subscribers with a “buy now, pay later” service.
In a press release on Wednesday, PLDT, Inc.’s wireless unit said the partnership with Plentina will enable Smart subscribers to take out micro-consumer loans to pay for their load.
“We welcome Plentina as one of our direct distribution partners. Our tie-up with Plentina provides a financial service that caters to the broader base of prepaid customers,” said Alex O. Caeg, senior vice-president and head of the PLDT-Smart consumer sales group.
The company also has plans to extend the “buy now, pay later” services to its retail and device partners to help subscribers in availing gadgets.
“We also hope to extend this service to our retail and device partners so that they can offer more convenient and flexible modes of payment for customers who may want to purchase mobile phones or other gadgets from Smart,” said Mr. Caeg.
To be able to avail of the loan for their prepaid load, Smart and Talk ’N Text subscribers will need to download the Plentina application, register and pass the credit scoring.
“They won’t get stressed out even when they don’t have available cash. You might not have the money now, but then you can load up your Smart mobile phone using credit through Plentina and pay later according to your preferred schedule,” said Earl Martin Valencia, chief business officer and co-founder of Plentina.
As of end-2021, Smart services approximately 96% of the country’s cities and municipalities with its combined 2G, 3G, 4G LTE, and 5G network. — Justine Irish D. Tabile