PalawanPay nears 23-M subscriber target

The digital arm of pawnshop giant Palawan Group of Companies is shifting its strategy to boost higher usage of its PalawanPay application, placing less emphasis on expanding subscriber numbers and more on enhancing overall user engagement.

- By MARCO LUIS BEECH

Noting that 26 percent of the entire group’s transactions already pass through the application, Palawan Group president and CEO Karlo Castro said the company’s digital arm continues to post triple-digit growth, although launched just recently and now entering a period of rapid expansion.

“The target actually by the end of the year is 23 million. We are very close to that one. We are probably going to hit it,” he said. “The push for last year was really increasing the number of subscribers. The push for this year and the next is really the usage.”