Loan Digest

Pinoys spending more time on lending apps

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Filipinos spent about 1.3 billion seconds – equivalent to 42 years – using digital lending applications in 2023, with financial tools and credit services becoming more accessible to consumers, according to a study conducted by consumer credit service Digido.

Digido said the average user of digital lending apps spent around 14 minutes and seven seconds per month in 2023 while the average duration of a user’s session was 54 seconds.MANILA, Philippines —

The analysis included 70 online lending applications that are duly-registered to operate in the Philippines, including Digido. Unique users surged by 64 percent to 47.46 million in 2023, while active users jumped by 25 percent to 7.7 million from the same comparative period a year before. “Such platforms are reaching more low-income segments of the population through new technologies or partnerships with banks,” she added.

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