Mocasa users top 100K, 3M more targeted

MOCASA Credit on Wednesday reported notching over 100,000 users in just a year of operation with a goal of boosting this to 3 million over the next three years.

“Within one year of operation, we built the infrastructure of all the paying channels, and also we are very lucky to get some early users who are giving us suggestions to improve the app,” Mocasa Chief Operating Officer Julien Chen said.

“Currently, we have more than 100,000 users that have already got their credit line from Mocasa, and with the help of our main channel partners we are able to connect with more than 1 million spots available for Mocasa app to pay,” he added.

Launched in January 2022, Mocasa is aiming to acquire 3 million credit users over the next three years and plans to launch a rewards and cashback program for committed patrons.

“We try to make this app as convenient as possible for users to use,” Chen said. “We achieve this by digitalizing the whole process of users trying to get the credit line, and also use the credits.”

The Mocasa application can be used to shop online, pay utility bills and buy mobile loads, meals and groceries with thousands of participating merchants to choose from.

Mocasa Chief Executive Officer Robin Wong said the majority of Filipinos still lacked access to basic financial services or faced issues such as the inability to obtain credit cards, loans or adequate insurance.

He said that Mocasa aimed to assist underbanked and underserved Filipinos through features such as the “Pay Later Anywhere.”

Upon signing up, users will get a certain amount of credit. Consumers, who must complete a know-your-customer process, are encouraged to pay within 50 days.

“After this billing date, there will be another 20 days grace period for our users to pay back. As long as you will be paying within the 20 days grace period, there will be no interest charges,” Chen said.