Consumer fintech Salmon today announces the launch of 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 more than 600,000 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 general public as well.  

Salmon Credit customers will be able to either instruct Salmon to disburse their available limit to any  Instapay-enabled bank account or e-wallet, or make payments at locations accepting QR Ph,  including those of GCash, PayMaya and many others, which are widely used by millions of Filipinos.  

Salmon Co-founder Raffy Montemayor commented: “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 general 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 that this will become a popular product to enable credit access for millions of Filipinos. 

The great user experience is made possible by Salmon’s data-centric approach and AI, which helps  us to better understand our customers and set personalized credit limits for them that evolve with  customer needs. 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.’’ 

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.  

Improved User Interface: The Salmon App guides applicants through the credit application process  via helpful in-app hints and prompts, ensuring a seamless user experience. 

QR Ph Code Integration: Through a partnership with QR Ph, our mobile app's QR 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. 

Flexible terms: Salmon provides customers with an interest-free grace period, allowing them to settle  debts before generating a monthly statement.