4/22/16

More Filipinos Now Relying on Online Pawnshops

PawnHero.ph

Through many years, pawnshops have a vital role in Philippine economy considering that many residents in our country prefer to walk to their nearest shop and get cash loans from it with pawnable or appraised items as collateral such as jewelries, mobile devices, and even video game consoles. Now, thanks to technology, many Filipinos have found a more convenient way to pawn their own unusable items without the need to beat the heat walking to their nearest pawnshop. And it's all thanks to PawnHero.

Launched in the Philippines last year, PawnHero is the first online service in Southeast Asia that aims not only to modernize the pawnshop industry which has been there for about three thousand years, but also to solve problems of expensive credit for base-of-the-pyramid consumers in emerging markets and to meet the quick cash loan needs of its Filipino customers to put it simple. What sets PawnHero apart from traditional pawnshops is its lower interest rate that is considered half of that of most physical pawnshops in our local shores and a convenient and transparent process that can turn any consumer's smartphone into an instant pawnshop of its own.

The process of using PawnHero is simple. Take a picture of what you want to pawn, upload them on either its official website or the PawnHero mobile app, and you will receive a price range of those items in just a few minutes. Then schedule where you want them to pick up the pawnable item and receive cash. First-time customers will receive a free debit ATM card from PawnHero and Security Bank once the item is being picked up, where they can use it to withdraw cash and even pay for their loans. Don't worry, though, because this process is officially legit since it is a fully licensed pawnbroker.

If you're not into PawnHero, then you should try Tambunting Online, the online service launched by the 110-year old Tambunting Pawnshop that lets customers pawn their items at the comforts of their own home using their PC. For more details about this, go to the official website of Tambunting Pawnshop here and follow the instructions there.

Sometimes, pawnshops can be considered a feel-good savior for some Filipinos to content on what they have done and what they will do in the future. But, the advent and influence of technology may soon become reliable for those who don't want to remain scathed in the traditional process of pawning and appraising. With the help of such like PawnHero and Tambunting Pawnshop, traditional pawnshops may just become a compliment for those who are not used to today's modern world.

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