SM Store taps fintech for shoppers’ financing

THE SM STORE signed a partnership deal with Salmon, a financial technology (fintech) startup company, to provide its customers with point-of-sale services.

In a press release on Monday, Salmon said the partnership would provide the opportunity for SM Store customers to buy products via installment financing.

“From now on customers of SM Store will have the opportunity to buy their products using the Salmon point-of-sale service giving them access to installment financing as well as greater freedom and flexibility,” the company said

This partnership with the department store chain Salmon will now allow customers to purchase SM Store products without “long approval processes and needless paperwork.”

“SM Store attracts a large number of Filipinos looking for a great shopping experience, and Salmon will now be there to make this experience better and even more affordable,” said Salmon Co-Founder Raffy Montemayor.

The company also has plans to expand alongside well-known retail brands to help shoppers through quick installment loans.

“We are firmly convinced that using financial products, obtaining loans, paying bills and all other time-consuming financial routine will eventually be seamlessly integrated into our daily lives,” Mr. Montemayor said.

The SM Store is a subsidiary of SM Investment Corp., which is also into the property business and financial services. — Adrian H. Halili