Friends, I wanted to share with you this innovation in the pawning industry. They eyed the Philippines as among the fastest growing on internet-penetration. The founders thought that most people are ASSET RICH BUT SHORT OF CASH. Minimal interest rates applied on items. Too good to be true, no because they also earn from selling the unclaimed items to marketplace called SHOPIFY. We are well aware that pawn amount is just a fraction of the item’s cost although they GUARANTEE high appraisal. Payments are made thru PawnHero card they will issue where pawners can withdraw their loan. The operation is nationwide (Philippines) but they plan sooner to expand in Vietnam, Cambodia and Laos.
The online pawnshop which is also known as PawnHero.Com – it is an app-based business running for almost two years now. I have a glimpse of it from the Bloomberg TV show, Bright Ideas, hosted by Mr. RJ Ledesma. Some of the important information I noted:
What is PawnHero.Com
- basically a pawnshop at the reach of your pocket as it was labeled by Mr. Margendorff (CEO)
- a pawnshop with no physical address except for its SINGLE warehouse maintained for the pawned items
- LARGER variety of items accepted
accepts luxury items (jewelries, watches, designer handbags), motorbikes, appliances even musical instruments. Try everything valuable