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Mocasa's AI-powered Credit Evaluation Promotes Financial Inclusion


Financial inclusion in the Philippines lags behind its Southeast Asian (SEA) counterparts. As of 2022, approximately 78% of the population remains unbanked or underbanked, while credit card penetration stands at 3%.


The lack of reliable cashless payment infrastructure and insufficient credit data prolong this situation. To address this gap, the Philippines was chosen as the initial launch market for the innovative credit payment app Mocasa and its Pay Later Anywhere program. It's also the only fintech firm to offer a credit line with zero interest.


“We had a simple goal when we entered this market: to offer a unique app to address the cashless payment and credit opportunity issues for Filipinos who are still not well-served by traditional banks,” Mocasa CEO Robin Wong.

No more than three percent of Filipinos can get products from banks with affordable interest charges. Sometimes, even those who do have access to financial products find current tools inconvenient to use. For example, they have to top up their e-wallets first before using them, instead of just having them seamlessly linked to their bank accounts.

“As we delved deeper, we learned that more Filipinos also need flexible credit payment options that would allow them to extend their financial capabilities,” Wong continued. “And that is exactly what we have enabled through the Mocasa app,” which he also described as the country’s first credit payment app.

The country's mobile internet penetration rate of 73% and its projected GDP growth rates of 5.6% and 7.2% in 2021 and 2022, respectively, will support Wong's optimism. This year, the Bangko Sentral ng Pilipinas is also striving to digitalize 50% of all payments.


Mocasa has gotten a head start with its flexible credit option, offering its users a digital, convenient, and affordable alternative payment solution at a time when few contactless payment infrastructures have been established. It's 50-day no-interest and no-deposit feature also simplifies the shopping and payment process.

Another innovation is that Mocasa enables qualified consumers to make credit payments at over one million online and offline merchants. Through its innovative partnership with Mastercard

Mocasa provides customers with an advanced financial channel that is secured by a dependable anti-fraud solution and supported by 24/7 chat support to address all customer concerns. It ensures a rapid connection to numerous merchants and users. It also partnered with the QRPH QR code payment network promotion program of the Philippine government.

The Mocasa app is downloadable from the Google Playstore and the Apple Store. Interested users and applicants for a Mocasa credit line must meet the following three requirements:

1. Valid government ID
2. Active mobile number
3. Proof of income, which can be their pay slips in the last three months, bank statement of last year, or social insurance records in recent 1-2 years.

Upon approval, the customers are eligible for two types of credit balance account: the Standard Account, which has an adjustable credit based on the customer’s financial capacity; and the Constructive Account which requires a holdout deposit in order to be used to build credit track record from scratch for those who never had a record in the central credit bureau.

With merchant payments accounting for 70% of monthly retail payments in the country, Mocasa is onboarding 10 million more users in the next five years and acquiring more than 3 million credit accounts by 2024.
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