MANILA, Philippines—7-Eleven stores in the Philippines have partnered with TendoPay, a digital installment plan solution, to let customers pay for their purchases over several months, reports Adobo Magazine.
Introduced last week, TendoPay gives its shoppers the convenience of buying now and paying later—from 15 days up to 24 months using installments. Customers can buy 7-Eleven vouchers on installments on the TendoPay website and load their 7-Eleven CLiQQ wallet. They then use the wallet at any of the country’s 2,900 7-Eleven stores to pay for merchandise.
“It allows them to make purchases whenever they actually need them,” said Kacper Marcinkowski, president of TendoPay. “Then they can repay them once they get their salary, or even spread the cost over several months. It’s a very convenient way of managing your finances, especially at a time of pandemic.”
Anyone can apply for a TendoPay account, so long as they meet the requirements. E-commerce in the Philippines is growing rapidly, according to Marcinkowski.
“We think that in a complex sector like fintech it’s important to specialize or focus on one problem only. In our case, it’s providing Filipinos affordable and convenient financing,” he said. “We will continue to grow our ecosystem of partner stores to fulfill this mission.”