Bulgaria’s Cash Credit in Mobile Microfinance Deal with Unit of Philippines’ Leading Telecom

Business | March 4, 2015, Wednesday // 18:23
Bulgaria: Bulgaria’s Cash Credit in Mobile Microfinance Deal with Unit of Philippines’ Leading Telecom

Bulgaria’s Cash Credit has joined forces with Philippines-based Voyager Innovation to offer mobile-based microfinance services in the Asian country.

Announcing its strategic partnership agreement with Cash Credit, Voyager Innovation said in a statement the partners will jointly aggressively rollout a mobile-based microfinance program within the first half of the year, applying big data analytics to offer innovative financial services to Smart’s combined subscriber base of over 75 million.

Under the agreement, Cash Credit will bring its expertise on lending to individuals through innovative partnerships with mobile network operators around the world.

Cash Credit’s pioneering expertise in aggregating, analyzing and applying data to offer innovative microfinance solutions will further promote electronic financial access among the underbanked and unbanked segments of the Philippine’s population,” Voyager Innovation president and CEO Orlando Vea said in the statement.

"We look forward to working with Voyager and Smart in helping them attract and retain customers with our innovative financial solutions,” Cash Credit’s Founder and Executive Chairman Georgi Krumov commented.

Voyager Innovation, 100% owned by Smart Communications, is focusing on creating platforms and solutions for digital commerce.

Smart Communications is a unit of PLDT, the leading telecommunications services provider in the Philippines. PLDT is among the companies with the largest market capitalization listed on the Philippine Stock Exchange. Its American Depositary Shares are listed on the New York Stock Exchange.

Cash Credit is a tech-based non-banking financial institution founded in 2011 in Bulgaria. It works in partnership with mobile network operators to offer micro financial services to mobile subscribers.

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Tags: Orlando Vea, Smart Communications, Georgi Krumov, Philippines, Bulgaria, Voyager Innovation, Cash Credit, PLDT

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