Luvit launches installment-based credit card service in the Philippines

Digital lending platform Luvit has officially launched its credit card service in the Philippines, entering the country’s growing digital credit and installment payment market.

Why it Matters: More Filipinos are using digital financial services for shopping, bills, and daily transactions. As cashless payments continue to grow, fintech platforms like Luvit are offering easier access to credit, especially for younger users and consumers who may not qualify for traditional credit cards.

During its local launch event, the company introduced features aimed at consumers looking for alternatives to traditional bank-issued credit cards. The platform focuses on fast application processing, flexible payment terms, and app-based account management.

Luvit positions itself as a digital-first credit service that users can access through its mobile app, with both virtual and physical card options available for approved customers.

Based on the presentation shown during the launch, users can complete the application process in less than five minutes using only one valid ID. The company also said approvals can happen in as fast as 90 seconds.

Luvit highlighted several customer-focused features during the event, including up to 40 days of 0% interest, spending limits starting at PHP 6,000 and reaching up to PHP 200,000, flexible payment options, and no hidden or annual fees.

The company also emphasized customer support features, including live assistance and shorter waiting times for concerns and inquiries.

The platform is backed by Mastercard and FinVolution Group, with WeFund Lending Corporation handling its Philippine operations. Users can access installment-based payment options through the app, with supported transactions covering shopping, bills, travel bookings, and other purchases.

Luvit enters an increasingly competitive fintech market in the Philippines, where digital lending platforms, buy now pay later services, and app-based financial tools continue to expand.

As more digital credit platforms launch in the country, could app-based lending eventually become a more common option than traditional credit cards for younger Filipinos?