PayMongo and consumer finance company Skyro have announced a partnership that connects SkyroCredit with PayMongo’s QR Ph merchant network, allowing approved customers to use their credit line for purchases at thousands of businesses. (PayMongo)
For merchants already accepting QR Ph through PayMongo, the arrangement requires no additional terminal, integration or enrollment. Businesses continue accepting QR Ph as usual, while eligible Skyro customers can use approved credit as the funding source behind the payment. (PayMongo)
SkyroCredit is a reusable digital credit line offered through the Skyro app. Skyro says customers can use it to scan a merchant’s QR Ph code for purchases, including at stores, restaurants, groceries and other businesses that accept the national QR payment standard. (Skyro)
The partnership effectively separates the credit product from the merchant payment infrastructure. Skyro handles the consumer credit relationship, while PayMongo provides the QR Ph payment rails that allow the approved credit to be spent across its merchant network. PayMongo is also providing Skyro with additional digital repayment options, including online banks and e-wallets. (PayMongo)
The companies announced the partnership on September 2. PayMongo said the arrangement is part of a broader push to provide payment infrastructure to lenders and fintech companies across disbursement, merchant payments and loan repayment. (PayMongo)