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Salmon launches ‘Salmon Credit’ with built-in QR Ph payments for Filipinos

By Gloria Mathias

September 25, 2023

  • 20million
  • Argentem Creek Partners
  • Consumer Fintech
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Salmon, FinTech, Series A Funding, 20million, Argentem Creek Partners, Consumer Lending, Credit Line, QR Code, Merchant paymentsConsumer FinTech Salmon has launched Salmon Credit, its first credit line product with built-in QR Ph payment options, providing a simple and familiar way for Filipinos to make payments at QR Ph-enabled merchant locations across the country.

Salmon Credit grants customers easy and flexible access to credit, funding their daily spending needs without requiring a separate loan application for each purchase.

Customers will see their initially awarded credit limit increase as they make more purchases and repayments with Salmon Credit, subject to certain conditions being met. This new product will initially be available exclusively to existing Salmon customers and will later become open to the public as well.

Key Features of Salmon Credit include:

  • Convenience: With all account information and payment features available in the mobile app, Salmon’s credit line represents our ongoing commitment to delivering and expanding advanced digital solutions that ensure a simple and transparent customer experience.
  • QR Ph Code Integration: Through a partnership with QR Ph, our mobile app’s code functionality simplifies payments, streamlining the financial transaction process for our users. QR Ph is the Philippines’ QR code standard, developed with security and convenience in mind to standardize the use of QR codes, which are widely used in the Philippines.
  • Personalized Limits: Salmon’s AI/ML-powered credit engine assigns credit limits tailored to each customer’s financial situation, underscoring our commitment to sustainable lending.

Salmon Co-founder Raffy Montemayor shared, “The launch of Salmon Credit marks a significant milestone for Salmon. The Salmon App now offers many interactive features to make it simpler for existing customers to get, use and repay credit. This engaging product, which will soon be rolled out to the public, has integrated QR Ph payment functionality and can be accessed via the Salmon App. This product is particularly well suited for the Philippines, where merchants enabled to process QR Ph purchases outnumber those with Visa/Mastercard terminals by a factor of 10:1. We believe this product will be well received by our valued customers and will help us to continue building long-term, mutually beneficial relationships with them.’’

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