FINTECH COMPANY Skyro and e-payment firm Paynamics Technologies, Inc. have partnered to expand and offer more flexible payment options for underserved Filipinos and small businesses.

“This partnership is another milestone for us, for Filipinos, and also for the businesses, including the small and medium enterprises (SMEs),” Skyro Head of POS (Point of Sale) Business Lowen Medina said during the contract signing on Wednesday.

“We don’t need to stop in making sure that we provide better, accessible, affordable, and definitely flexible financial services in the Philippines.”

Under the partnership, Skyro’s buy now, pay later (BNPL) scheme can now be used across 4,000 merchant-partners under Paynamics.

“This partnership actually highlights the mission of Paynamics in elevating Filipino businesses and the lives of Filipino people by making financial products such as the BNPL more accessible and convenient,” Mylene Chua-Magleo, Paynamics co-founder and chief executive officer, said.

“Together with Skyro, we bring stronger cash flow to businesses while offering flexible payment options to customers and flexible payment terms that fosters a more inclusive and digitally empowered economy,” she added.

Skyro aims to offer “humane” loan terms and interest rates. Its loan products have an approval rate of up to 80% with down payments as low as 20%. — Luisa Maria Jacinta C. Jocson