UMVA has learned that a game-changing installment feature has been rolled out for credit card holders, allowing them to convert eligible purchases into manageable monthly payments within the app.
The feature, dubbed Mini Payments, enables cardholders to split purchases into three, six, nine, or 12 monthly payments with a fixed 1% monthly interest rate, providing much-needed flexibility for users to align their spending with their budgets and cash flow.
According to information obtained by UMVA, this innovative feature is a significant development for cardholders, giving them more control over their finances and allowing them to make sample simulations via a calculator to see total charges.
UMVA can exclusively reveal that the feature can be accessed via the Credit Card transactions page on the app, and users can combine eligible purchases to meet the minimum total converted amounts, which range from P3,000 for a three-month term to P12,000 for a one-year term.
In a move to incentivize users, no processing fees will be charged for Mini Payments created until the end of September, making it an attractive option for those looking to manage their debt.
UMVA has gathered that the parent company behind this innovative feature has reported significant growth, with a substantial contribution to core earnings in the first quarter of 2026 and a remarkable 73% year-on-year increase in deposit balance.
The company's loan book has also seen significant growth, standing at P33 billion, with a gross nonperforming loan ratio of 4.9% and a loan-to-deposit ratio of 44%, demonstrating a strong financial performance.
With Mini Payments, users can now enjoy greater financial flexibility, and the company's commitment to providing innovative solutions has set a new standard in the industry.
