Consumer fintech Salmon today announces it has made another step in simplifying loan repayment for its clients. It launched repayment channels with five institutions, including MLhuillier and SM Bills Payment Centers (SM Stores), that will provide new brick-and-mortar loan repayment locations, as well as UnionBank, BPI and RCBC, which will expand online payment options for Salmon customers, making loan repayment logistics even more convenient.

Salmon Co-founder and Business Head in the Philippines Raffy Montemayor commented:

“We are delighted to have expanded our partnerships with these esteemed financial institutions, making it very easy and convenient for Salmon customers to make their loan payments in person or online. This step marks another important milestone for Salmon, as we bring transparent and convenient services to ordinary Filipinos across the country.”

Salmon added 3,070 new in-person repayment locations, a 56% increase from 5,500 7-Eleven and Cebuana Lhullier stores, already available to customers before the new partnerships were signed. Customers can generate a reference number or barcode in the Salmon app and then use it to make payments at an expanded number of brick-and-mortar locations.

Alternatively, customers can make payments online and will be redirected to a partner bank's page for login, receiving a one-time password (OTP) and payment confirmation. Online payments can now be made via Union Bank, the Bank of the Philippine Islands, Rizal Commercial Banking Corporation, as well as by using G-cash and Maya e-wallets.

Salmon recently closed a US$20 million debt funding round, the largest ever debt financing for a Series A tech company in the Philippines, led by Argentem Creek Partners, an emerging markets specialist investor.