Petsa de peligro? Firm to offer 'pamasahe' loans for cash-strapped commuters

ABS-CBN News

Posted at Jun 18 2021 11:16 AM | Updated as of Jun 18 2021 12:09 PM

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MANILA - Digital micro-loans provider lendpinoy on Friday said it will offer fare loans to cash-strapped Filipinos who need money for transport fares via its Ride Now, Pay Later program for beep card users. 

Beep cards are stored value cards which users can top-up to be used in select modes of public transport.

Commuters can borrow P500 for P2P buses, modern jeepneys, MRT-3 and LRT-1 and LRT-2 payments, lendpinoy COO Nouella Kristi Bautista told ANC.

"We realized that petsa de peligro needs to be addressed by providing transportation payment loans as well to our target market, which is the working class," she said. 

To avail of the beep loans, users just need to download the lendpinoy app. Repayment term can be 14, 21 or 30 days, lendpinoy said.

Loans are available starting this month which could benefit around 7 million beep users, the firm said.