In today’s world, financial technology (fintech) has made it easy for people to access loans, credit, and other financial services online. TendoPay is one such fintech operator that offers a buy-now-pay-later service to customers. With TendoPay, customers can convert their spending into EMI installments for online purchases from various online merchants.
CashLoanPH will delve into TendoPay’s features, interest rates, requirements, rules of registration, contract, and online loan repayment methods. Additionally, this article provides detailed instructions on how to apply for a microloan on the TendoPay website.
About TendoPay
TendoPay is a registered fintech operator based in the Philippines that was founded in 2018. It operates as a financing company under the Securities and Exchange Commission and has its head office located at 105 Cecil St, 16 The Octagon, Singapore, SG. One of the unique features of TendoPay is that customers can purchase and pay in installments ranging from 2 to 24 months. This makes it easier for customers to pay for online purchases without the requirement for any credit card or bank accounts.
TendoPay offers loans of up to 25,000 ₱, with a loan term of 65 days. All loans are financed by Templetech Finance Corp (SEC Registration No. CS201820732, Certificate of Authority No. 1228). Customers are advised to read the terms and conditions in the Disclosure Statement before proceeding with a loan transaction.
Pros and Cons of TendoPay
As with any credit limit, TendoPay’s services have advantages and disadvantages. Here are some of the pros and cons of using TendoPay:
Pros:
- Easy application: The application process for TendoPay is straightforward and can be completed online.
- Fast approval: TendoPay has a fast approval process, which makes it convenient for customers who need to access credit quickly.
- More access to merchants: With TendoPay, customers can access more online merchants that accept the TendoPay payment option.
Cons:
- 20% down payment: TendoPay requires customers to make a 20% down payment at the time of purchase.
- Different voucher system: TendoPay’s voucher system can be confusing for some customers.
- High-interest rates: TendoPay’s interest rates can be higher than other loan providers.
Loan Conditions and Requirements
To use TendoPay, customers must have a valid email address and phone number in the Philippines. They must also be at least 18 years old and have a government-issued identity card. The initial loan requires user verification, and the first installment payments must be made at the time of purchase. The early payments determine the terms of subsequent loans. With each purchase made and settled on time, TendoPay increases the customer’s credit limit.
It is important to ensure that each payment is completed on or before its due date. Failure to do so can result in additional charges and late fees. Customers should also note that TendoPay requires a 20% down payment at the time of purchase. This down payment is deducted from the total amount of the purchase.
TendoPay FAQ
Here are some frequently asked questions about TendoPay:
What is TendoPay?
TendoPay is a financial service that allows customers to shop online at their favorite stores and pay later without using a credit card or bank account. With TendoPay, customers can make purchases, pay bills, track expenses, set financial goals, and access various premium insurance products.
How do you qualify for TendoPay?
To qualify for TendoPay, customers must be at least 18 years old and have a government-issued identity card. They should also have a valid email address and phone number in the Philippines.
How much can you borrow from TendoPay?
Customers can borrow up to ₱30,000, depending on the assessment of their application. As they make more online purchases and repay promptly, TendoPay increases the customer’s credit limit, which can be used for extra pay later credit.
Is TendoPay a legitimate company?
Yes, TendoPay is a financial service business registered under the laws of the Philippines and authorized to operate as a financing company by the Securities and Exchange Commission.
How to Apply for a Microloan on the TendoPay Website:
To apply for a microloan on the TendoPay website, follow these steps:
- Go to the TendoPay website (tendopay.ph) and click on the “Apply Now” button.
- Fill out the application form, which includes personal information such as your name, address, and phone number.
- Provide the required documents, including a government-issued ID and a recent utility bill.
- Wait for TendoPay to approve your application.
- Once your application is approved, you can start using TendoPay to make purchases and pay in installments.
Online Loan Repayment Methods
TendoPay offers several online loan repayment methods for customers to choose from. Customers can choose to make payments using:
- Online banking
- Mobile banking
- Remittance centers
- Over-the-counter payments
It is important to note that additional charges may apply for some payment methods. Customers should check with TendoPay to find out the fees associated with each payment method.
Contact TendoPay
For more information about TendoPay, visit their website (tendopay.ph) or contact Templetech Finance Corp through their contact page on the TendoPay website…:
- Email: [email protected]
- Website: https://tendopay.ph
- Facebook: https://facebook.com/tendopay
- Contact Page: https://tendopay.ph/contact-selection
All loans under TendoPay are financed by Templetech Finance Corp. (SEC Registration No. CS201820732, Certificate of Authority No. 1228)
Please study the terms and conditions in the Disclosure Statement before proceeding with the loan transaction.
Conclusion
In conclusion, TendoPay is a safe and secure service that makes it easy for customers to access credit online without a credit card or bank account. Despite its high-interest rates, TendoPay’s easy application and fast approval make it a convenient option for online shoppers. To apply for a microloan on the TendoPay website, customers must provide their personal information and the required documents, including a government-issued ID and a recent utility bill.
With TendoPay, customers can purchase and pay in installments ranging from 2 to 24 months, and they can access more online merchants that accept the TendoPay payment option.
Loan type
Short termFor a period of
180 daysRate ()
0.00% / monthLoan amount
PHP 25,000Approval in
5 minutesFirst loan free
no
Loan type
Short termFor a period of
180 daysRate ()
0.00% / monthLoan amount
PHP 20,000Approval in
5 minutesFirst loan free
no
Loan type
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0.00% / monthLoan amount
PHP 25,000Approval in
5 minutesFirst loan free
no
Loan type
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365 daysRate ()
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PHP 20,000Approval in
15 minutesFirst loan free
no
Loan type
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90 daysRate ()
0.00% / dayLoan amount
PHP 25,000Approval in
15 minutesFirst loan free
no
Loan type
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365 daysRate ()
0.00% / dayLoan amount
PHP 50,000Approval in
15 minutesFirst loan free
no
Loan type
Short termFor a period of
90 daysRate ()
0.00% / dayLoan amount
PHP 20,000Approval in
15 minutesFirst loan free
no
