Bucking the trend of Metro Manila big chains moving outward to the provinces and elbowing out of the way of local competitors, Palawan Pawnshop did things in reverse.
The probinsiyano (as the name suggests, the business was established in Palawan, specifically the capital city of Puerto Princesa) boldly stepped out of its island base to challenge old and established names in the pawnshop business in their own turf, the big cities.
Other “country bumpkins” might have been intimidated to venture outside their comfort zones, but the Palawan Pawnshop Group (PPG), now one of the country’s largest networks of pawnshops and money transfer centers, confidently joined the big leagues, secure in the idea that the corporate values that anchor its enterprise and its employees’ commitment to service will see it through the tough times ahead.
Now, more than 30 years after its founding on Aug. 17, 1985, Palawan has become for its growing number of customers a verb, as in “i-Palawan mo na ‘yan” (send money through the Palawan).
The probinsiyano business that Mr. Bobby Castro, chief executive officer and founder, established has built a strong presence in the highly competitive Metro Manila market and has also expanded nationwide.
Bobby Castro
PPG, comprised of its two main brands Palawan Pawnshop and Palawan Express Padala (PP-PEPP), has more than just its impressive growth to be proud of. It has now also been recognized as one of the Philippine Daily Inquirer’s “The Philippines’ Best Employers 2023.
For PPG, the recognition from the Inquirer is a true testament of how it takes care of its employees. The company’s mission does not only involve being a reliable and trustworthy partner to its clients, but is also proof of its commitment to share its success with its associates and to provide them with opportunities for career growth in an environment built on the company’s values.
Loyalty begets loyalty. PPG’s loyalty to its associates is returned in full through the long and loyal service and tenure of the majority of most of its employees. The group employs 14,542 direct and 554 indirect associates, making it one of the biggest employers in the Philippines.
In more than three decades of doing business, PPG has solidified its status as the preferred brand in money services like pawn broking, remittance, and insurance. Its growing network of branches and partner outlets in Luzon, Visayas and Mindanao offer customers easy, fast, affordable, and dependable transactions.
Its suki, or regular customers, can transact from any of the more than 10,000 Pera Padala locations across the Philippines. Its network presents a unique value in the financial sector from Aparri, Cagayan to Jolo, Sulu. It also has partnerships with international remittance companies. The brand is present in all regions, provinces, cities and 1,177 towns in the country.
PPG democratizes access to finance and fills gaps in the domestic financial sector that the formal banking sector is unable to bridge. By empowering ordinary Filipinos in times of personal crises and providing them hope for a better future, PPG has become a solid ally of the government and the Bangko Sentral ng Pilipinas (BSP) in promoting equal and inclusive financial access.
The company’s pawning arm, Palawan Pawnshop, is a leader because of its solid, honest and trustworthy reputation built over nearly four decades since it opened its first branch in Puerto Princesa.
It continues to offer one of the lowest interest rates in pawning–as low as one percent–that is particularly helpful to those coping with emergencies. It provides a high appraisal value for pawned gold jewelry items. It also goes the extra mile by sending text messages to inform customers of payment due dates so they can avoid penalties. With strategically located and community-based branches, customers can renew their pawn contract in places closest to their homes.
Palawan Express Pera Padala (PEPP), the company’s remittance arm, has become the leading brand for domestic remittances, providing a financial link to customers, as well as micro and small businesses throughout the country. It is now one of the largest and fastest domestic and international money remittance centers with the most affordable rates, as low as P2.
Aside from offering pawning and remittance services, PPG has expanded its services to include microinsurance as part of its efforts to help more Filipinos. Customers can now get easy, affordable, and accessible insurance from any PP-PEPP branch nationwide through the Palawan ProtekTODO accident insurance. For a premium of as low as P5, it gives all Filipinos, including the poor, an opportunity to avail of flexible and affordable insurance coverage plans for accidental death, accidental disablement and dismemberment, accidental medical reimbursement, burial benefit, and daily hospital confinement due to accident, and fire assistance.
Always thinking of ways to serve better its loyal customers, PPG introduced recently PalawanPay, its very own e-wallet application that gives users more convenience and flexibility in financial transactions – from cash-in and cash-out, buying phone load, bills payments, and bank and e-wallet fund transfers, just by clicking a button on their mobile phones. PalawanPay users can have their accounts verified by simply uploading a valid identification card and email address and can make transactions up to P100,000.
PPG continues to expand its services and offers wide-ranging opportunities to improve Filipinos’ income and quality of life. With its wide reach, it is in a good position to support inclusive finance and enable unbanked Filipinos to avail of financial opportunities to send money, save and invest, grow their income and insure their families.
PPG bridges the gap between the digital economy and communities, particularly in the countryside where cash is still the preferred mode of payment by offering its customers the ease of transacting through its online channels and physical branches nationwide.
The company remains committed to serving its loyal clientele and sustain its special role as a dependable and inclusive financial partner for Filipinos now and in the future.
To learn more about the Palawan Pawnshop Group (PPG), please visit www.palawanpawnshop.com or visit their official Facebook page on https://www.facebook.com/palawan.pawnshop
ADVT.