The Palawan Group of Companies (PGC), a 41-year-old company, is expanding its financial services from its traditional pawnshop and remittance businesses by developing a wider financial ecosystem that combines physical branches and digital services to serve the different financial needs of Filipinos.
“Palawan for All” is the new program introduced by the company, a unified campaign and strategic vision that brings its different financial services together. These include Palawan Pawnshop, Palawan Express Pera Padala, PalawanPay, ProtekTODO, Palawan Credit, and other services.
The Chief Executive Officer, Karlo M. Castro, stated that the company aims to provide financial services that can address the different needs of Filipino customers. The project aims to make Palawan’s financial products available to customers at different stages of their financial lives. The services can support different needs such as sending and receiving money, paying bills, saving, getting financial protection, accessing credit, and managing a business.
Palawan’s Bricktech Approach
Palawan’s major strategy involves the “Bricktech” approach, which combines the company’s physical network with digital financial platforms.
As Palawan aims to give customers different ways to access its financial services, the company is using its nationwide physical presence together with digital services such as PalawanPay, instead of treating physical branches and digital platforms as separate or competing channels.
With this approach, customers can continue to use physical locations for in-person transactions while also using digital platforms for other financial activities through an e-wallet.
As of the report, PalawanPay has already reached 23 million registered users, and the Palawan Group continues to maintain its large physical network. Its ecosystem is supported by more than 70,000 branches, Pera Padala outlets, and PalawanPay Money Shops across the country.
Even with its growing coverage in the digital space, the physical network still remains an important part of the company’s strategy. This shows how Palawan is using both physical and digital channels to give customers more ways to access its services.
Physical and Digital Services Working Side by Side
The Bricktech strategy connects Palawan’s existing physical presence with its growing digital financial services.
The company’s services now include domestic and international remittances, digital payments, microinsurance, credit, and business solutions.
The company is casting its bigger net by building a broader group of financial services that can respond to the different needs of its consumers.
PGC Vice Chair and Chief Financial Officer Lilian Castro-Selda stated that the company wants its services to remain convenient, inclusive, and relevant to the everyday lives of Filipinos.
The strategy also reflects how customers use different channels when managing their finances. Some transactions may still be handled personally through a physical branch, while others can be completed through digital platforms.
With the company’s large physical presence, PGC Chief Marketing Officer Bernard Kaibigan said that the company’s surveys show that Palawan remains the Philippines’ most trusted pawnshop and remittance company. He also highlighted the company’s physical presence in communities as part of its goal of making financial services available to Filipinos.
With the large number of Palawan locations across the country, the company has a physical network that allows it to maintain its presence in communities while continuing to develop its digital financial services. This allows Palawan to connect its existing physical operations with newer digital services instead of replacing one with the other.
Financial Empowerment
Another broader strategy of Palawan is financial empowerment. The company stated that the “Palawan for All” campaign is designed to respond to the changing digital and financial needs of Filipino consumers.
Under the Palawan for All campaign, it connects all the different services of the company under one broader vision. Customers can use the company’s services for different needs, may it be for remittances, payments, financial protection, credit, and business-related needs through both physical and digital channels.
As part of the campaign, the Palawan Group also renewed its partnership with actress and brand ambassador Marian Rivera.
The company connected the renewed partnership with themes of family, trust, and responsible money management.
According to Castro, Marian Rivera’s approach to managing her household finances and using technology to make financial management more convenient fits the company’s message.
It also supports the overall message of the Palawan for All campaign, which focuses on financial services for the everyday needs of Filipinos.
Expanding Financial Access
Palawan’s “Bricktech” strategy shows how the company is combining its long-established physical network with its growing digital services.
More than 70,000 branches, Pera Padala outlets, and PalawanPay Money Shops provide physical access, while PalawanPay gives customers a digital option for managing financial services.
The approach is intended to respond to the different financial needs of Filipinos while making services available through channels that customers can use based on their preferences.
For Palawan Group, the Bricktech strategy represents an effort to use its existing nationwide presence while continuing to develop digital financial services. The company is positioning this combination to provide more convenient and inclusive financial access to everyday Filipinos.
DOPAY Another helper for financial empowerment
And just like the growing goal of Palawan, the DOPAY app also aims to provide Filipinos with financial services that can support their everyday needs.
DOPAY is licensed and regulated by the Bangko Sentral ng Pilipinas (BSP) as an Electronic Money Issuer (EMI) and a Virtual Asset Service Provider (VASP).
However, even with the same goal of making financial services more accessible, DOPAY has a different approach.
With the recent launch of DOPAY Academy, aiming to provide educational materials that can help both potential and existing users better understand digital financial tools and opportunities.
DOPAY also provides digital payment, remittance, and other financial services designed to make financial transactions more accessible.
DOPAY also offers programs such as Trade & Earn, where users can receive crypto rewards through eligible trading activities. It also has a Refer & Earn program, which allows users to earn through successful referrals.
These services and programs give users different ways to use the platform while also learning more about digital finance. Together with the DOPAY Academy, they support DOPAY’s approach to combining financial services with financial education.
While Palawan focuses on combining its large physical network with digital platforms through its Bricktech strategy, DOPAY takes a more digital-focused approach. Both aim to make financial services more accessible to Filipinos, but they use different ways to reach this goal.
Through its digital financial services and financial education, DOPAY aims to support Filipinos as digital finance continues to grow in the country.
Download the DOPAY App now!
