Advance Now Part of FinTech Philippines

Ciara Alarcon
Advance – an online platform providing credit on-demand – has been named as an official member of the FinTech Philippines Association.

Advance Now Part of FinTech Philippines
Advance Now Part of FinTech Philippines

During its media briefing, Advance CEO and co-founder Jaime de los Angeles explained that the company is established to assist the 80% of employees who live paycheck to paycheck, most of whom are without access to basic credit services.

“Expenses often come at the most inopportune times or the so-called ‘petsa de peligro’. Advance is solving this problem by allowing employees to access their salaries on-demand, which is critical especially when faced with a sudden, unexpected need for cash,” de los Angeles addressed.

To support those who are unable to depend on their employers for financial assistance, Advance is a flexible credit platform that is available 24/7.

“We know that life doesn’t conveniently revolve around payday, so we wanted to empower employees by giving them the ability to unlock their wages, anytime,”  de los Angeles noted.

See Also: PESONet Now Available in 40 Banks Nationwide!

Compared to other online lenders who charge as much as 80% per month, Advance comes with no interest. The platform only issues a small processing fee, which is added to the repayment amount.

“We are very proud to partner with a one-of-a-kind platform like Advance. I do believe that this is an opportunity for many employees to have more access to financial security than ever before,” FinTech Philippines Executive Director Amor Maclang said.

In case you missed it, Fintech Philippines Association is an inclusive guild in the country that promotes digital entrepreneurship.

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