Home Credit Philippines and Puregold Price Club Inc. have launched a new Visa-powered credit card designed to help Puregold customers—especially small business owners—gain easier access to financial services.
Petr Lukosz, Home Credit’s chief customer relationship management officer, said the new product aims to make credit accessible to underserved sectors.
“This new product differentiates us in that it could provide financial services to the masses,” Lukosz said, referring to unbanked individuals and sari-sari store owners.
Home Credit initiated the partnership after noticing that many of its customers used their credit cards to buy groceries from Puregold.
“We realized Puregold was getting a lot of traction among our customers,” Lukosz added.
Puregold Vice President for Operations Antonio delos Santos said the program will benefit nearly 1 million members of Tindahan ni Aling Puring, who typically spend around P20,000 per purchase.
“The objective of the credit card is to extend your [business owner’s] working capital. Within 45 days, you might be able to turnaround that P20,000 twice,” he said.
The credit card is also open to non-business customers, with instant approval and a starting limit of P20,000—up to P100,000 for qualified users. Borrowers can avoid interest if payments are made within 45 days.