With 12 million customers and nearly half a trillion pesos in loans, Home Credit has become a quiet giant in getting gadgets into Filipino hands.

Home Credit Philippines is putting smartphones into the hands of 5,000 Filipinos every single day. Let that number sink in. It is a staggering figure that highlights the company’s massive scale and its central role in the country’s ever-growing appetite for technology.

At its recent Future Focus event, the consumer-finance firm announced it has served 12 million customers since it first set up shop in 2013, disbursing nearly P500 billion (approximately $8.7 billion) in loans along the way. While it started with just 33 customers, Home Credit has since ballooned into a nationwide operation with 18,000 partner stores.

The headline figure, however, is the sheer volume of smartphones. Home Credit has financed 2.5 million smartphones since the beginning of 2024. Apple iPhones, in particular, remain the aspirational device of choice. The company financed P10 billion ($175 million) worth of them in 2024 and expects that figure to double to P20 billion ($350 million) by the end of 2025.

From iPhones to air conditioners

Home Credit is also a major player in financing home appliances and transportation. At peak times, the installment giant finances 700 refrigerators, 1,400 televisions, and 1,100 air conditioners daily, effectively modernizing Filipino households one installment plan at a time.

Mobility is another fast-growing frontier. Recognizing the Philippines as the world’s fifth-largest motorcycle market, the company has leaned into financing motorcycles and e-bikes. Since the start of 2024, it has financed close to 70,000 units, totaling P4.5 billion ($79 million), giving more Filipinos affordable options for their daily commute.

“Our journey has always been about empowering Filipinos,” Home Credit Philippines chief sales officer Puneet Suneja said. “Every milestone reflects our mission of making modern living more attainable.”

Protection for the price of a pandesal

To keep all this new gear safe, Home Credit also pushes its protection plan, which it pitches as costing as little as a piece of pandesal, a local bread roll, per day. For a few pesos, customers can opt for one of two plans.

Device Protection covers the gadget itself against accidental liquid damage and provides an extended warranty with door-to-door repair or replacement.

The more comprehensive Borrower Protection covers the person, offering coverage for accidents and illness, installment waivers, and even unlimited online medical consultations for the borrower and his or her family. It’s a value-add that seems to be resonating; the company has already released over P1.75 billion ($31 million) in claims and has repaired or replaced nearly 70,000 devices under the program.

“Reaching 12 million customers is more than just a number — it’s a reflection of the trust Filipinos have placed in us,” said Home Credit chief operating officer David Minol.

As it nears its 12th year in the Philippines, Home Credit has become a familiar presence in retail financing. By offering installment plans for everything from smartphones to motorcycles, it’s played a role in how many Filipinos access big-ticket items. Whether that influence continues to grow or shifts with the market remains to be seen — but for now, it’s part of the country’s consumer landscape.

---