Makati, October 15, 2014: Cebuana Lhuillier, the country’s premier microfinancial company,is partnering with Colixo Inc., an electronic payment start up incorporated in the Philippines, through a direct investment.
Colixo is building a world-class omni-channel payment-processing platform, which allows acceptance of traditional electronic payments as well as new payment experiences. The platform will offer merchants and financial institutions customized payment acceptance in a secure and efficient manner that will bridge the gap between legacy payment technology and emerging payment innovations.
“This venture with Colixo will thoroughly expand Cebuana Lhuillier’s reach to its clients, and expand the scope of its coverage nationwide. By combining Colixo’s technology with our unequaled geographical outreach, we can offer even more innovative and cost-efficient services to our customers—particularly those outside of urban areas where traditional financial institutions are typically not present. This will greatly benefit the banked, underbanked and unbanked Filipinos, for they will have greater access to traditional electronic payment services, or to financial solutions truly tailored to their needs,” says Cebuana Lhuillier President and CEO Jean Henri Lhuillier.
About Cebuana Lhuillier: Cebuana Lhuillier is the country’s leading and largest non-bank financial services provider specializing in pawning, remittance, and microinsurance.
Cebuana Lhuillier is part of the PJ Lhuillier Group of Companies, a dynamic, multi-industry company that owns and operates businesses dealing with other financial services such as bills payment, collections and payout services, and banking, on top of all the services that Cebuana Lhuillier offers.
About Colixo Inc.: Colixo is part of the Narra group of companies, which is a collection of high-technology hardware and software companies, sharing a common set of predominant investors and aiming at delivering new technology to the market place.
Colixo has been incorporated to bring innovative, scalable and secure electronic transaction solutions to Philippines specifically, and to emerging countries in Asia generally. The leadership team of Colixo has an extensive strategic and operational experience – as well as successful track records both domestically and internationally – in developing, implementing and maintaining enterprise solutions.