Five innovative ways Home Credit became and remains the country’s number one financial ally
Home Credit Philippines (HCPH), one of the Philippines’ foremost consumer finance companies, is commemorating a decade of delivering Isang Dekadang Saya to the Filipino people. Since its inception in 2013, this trusted financial partner has proudly served over 10 million customers and has consistently played the role of a lifestyle companion for Filipinos, marked by an enduring journey of innovation and financial empowerment.
With an unwavering dedication to granting Filipinos easy and reliable access to financial solutions, HCPH has continually revolutionized its services, ensuring swift and convenient credit access for customers, empowering them to pursue the life they envision. Home Credit has also proactively expanded its product and service offerings to keep pace with the ever-changing demands of consumers.
In celebrating a decade of being a financial ally to many, let’s explore the five pioneering ways Home Credit has provided Filipinos with opportunities to embrace the quality of life they desire.
Fast approval time
Home Credit, as a trusted lifestyle partner, is renowned for its swift product installment approval process, ensuring that individuals can easily fulfill their needs. When the company first established its presence in the Philippines in 2013, the approval process required 20 minutes, a duration that was further reduced to just 10 minutes by 2016.
In the present day, Home Credit has reached new pinnacles by offering an incredibly convenient one-minute approval for product loans. This rapid service only necessitates one valid identification card and is accessible at over 15,000 locations across more than 75 provinces nationwide. With this efficient service, Filipinos can swiftly attain the lifestyle they desire with minimal hassle.
One-stop destination for lifestyle products
In response to evolving consumer preferences, the company continues to diversify its array of point-of-sale offerings, ensuring that Filipinos have access to a comprehensive assortment of products. Initially, Home Credit commenced its journey with just four pilot categories: televisions, computers and laptops, mobile phones, and home appliances.
Over time, the company has expanded its portfolio to encompass a diverse range of items, including bicycles, musical instruments, furniture, dental care products, cosmetic care, and optical services. Home Credit also caters to sporting goods, hardware tools, as well as car repair and maintenance. This positions Home Credit as a one-stop destination for a broad spectrum of lifestyle products, featuring an impressive selection of over 6,000 partner brands and retailers.
First non-bank financial institution to issue credit cards
In its pursuit of providing top-tier consumer finance services to Filipinos, Home Credit reached a noteworthy milestone in 2019 when it became the first independent non-bank institution to receive approval from the Bangko Sentral ng Pilipinas to issue credit cards within the nation.
This accomplishment has empowered Filipinos to engage in secure transactions, enhancing their way of life. The Home Credit Card is readily accepted by VISA-affiliated merchants worldwide, offering a seamless and globally recognized payment experience.
More innovative solutions, services to empower Filipinos’ lives
In response to the 2020 pandemic, Home Credit promptly adapted to new methods for better serving customers who were increasingly turning to digital channels to fulfill their requirements. It was during this period that the company introduced the My Home Credit App, equipped with a range of features tailored to address consumers’ financial needs anytime and anywhere.
Through this application, consumers can easily apply for product and cash loans from the convenience of their homes. Furthermore, the app seamlessly integrates with the website shoppingmall.ph, enabling Filipinos to effortlessly browse and purchase gadgets and appliances with just a few taps.
Moreover, the app offers access to Home Credit Qwarta, a virtual credit line that provides users with enhanced financial flexibility. Qualified Home Credit customers can also utilize their Qwarta to purchase mobile phone loads at discounted rates, settle bills with over 200 billers, and even make payments for various items using QR codes, ensuring a hassle-free shopping experience.
An advocate of financial literacy
Beyond providing access to financial services, Home Credit is deeply committed to enhancing financial literacy in the Philippines. In 2016, the company launched its Juan, Two, Three Financial Literacy Program, aimed at imparting fundamental financial management knowledge to various barangays across the nation. Building upon this foundation, Home Credit introduced its Wais sa Home: Financial Literacy and Consumer Protection Program in 2022, employing a multifaceted approach to promote financial literacy. This initiative encompassed various platforms, including online, on-air, and on-ground efforts, ultimately reaching 20 million Filipinos nationwide.
Home Credit has indeed witnessed substantial growth over the years. While it continues to evolve, the company’s unwavering commitment remains focused on empowering Filipinos financially, positively impacting numerous lives in the process.
For the latest updates from Home Credit Philippines, please visit their official website at www.homecredit.ph. You can also stay connected by following their official accounts on Facebook, Instagram, and TikTok. Additionally, customers are encouraged to download the My Home Credit App from Google Play to stay informed about the latest promotions and discover what’s new in the Marketplace.
Home Credit Philippines is a licensed financing company under the supervision of the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP).
