5 Pinoy Fintech Companies That Can Help You With Your Finances

Up to date with the latest technology and services that can help you with your finances? Here’s a list of the most useful Pinoy money start-ups that are worth checking out.

by Stephen Mendoza, 15 November 2017

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Technology is changing the way we live. But most of the novel ideas are not coming from the big tech giants. A lot of the innovations are from start-ups. Uber and other ride-sharing applications have revolutionized our daily commute. Airbnb has provided cheaper ways to book accommodations when we travel. Now, even the way we make financial transactions and use financial services are made more simple thanks to technology. 
This is where fintech companies come in. A “fintech” or financial technology company is an organization, usually a start-up, which deals with finance and money-related services such as mobile payments, money transfers, loans, fundraising, and down to asset management. A lot of innovations are happening in this sector right here in the Philippines and we can all benefit from the services that they provide. Here are some local fintech companies that may help you with your finances.

Are you thinking of getting a new credit card or taking out a loan? Are you getting confused where to get one because there is so much on offer out there? eComparemo is a comparison site for financial services like loans, insurance, and credit cards. It has information on credit limits, annual fees, and other details regarding the credit cards that local banks offer. They also have personal and housing loan calculators available in the site. 

Some people are not comfortable carrying cash around. Some want to do online transactions without the burden of owning a credit card. PayMaya is a virtual debit card that uses your smartphone as a mobile wallet. It lets you load your virtual wallet from banks, convenience stores, pawnshops, and bills payment centers. You can use your virtual card to shop online, book flights, and pay bills. You can also use PayMaya to send and receive money from friends. You can also apply for free for a physical card that you can use to withdraw money from ATM’s, and to pay establishments that accept Visa cards.

With Coins.ph, one can buy load, pay bills, send and receive money, and shop online. In other words, it’s a digital wallet. But what makes Coins.ph different is that you use bitcoins to pay and receive money. Bitcoin is a legal type of cryptocurrency or digital cash. Coins.ph is the first virtual currency provider licensed by the Bangko Sentral ng Pilipinas.

For those who need quick loans, the neighborhood pawnshop is the go-to place. But in the digital age, even pawning gets a digital makeover. PawnHero is the first online pawnshop in Southeast Asia. You can get a free estimate or appraisal online and schedule the pick-up of the item being pawned. No need to queue in a brick and mortar pawnshop. PawnHero also accepts other items that traditional pawnshops don’t, such as gaming consoles and luxury bags. And because they don’t maintain physical stores, PawnHero can offer interest rates for as low as 2.99%.

For those who want to invest in farming but don’t own arable lands, Cropital lets you fund small operations of small farmers. Your investment will be used by farmers to tend their land and you can earn a percentage of the profits during harvest season. With this, you don’t just make your money grow, but you also provide our local farmers with the financial assistance they need.