Tambunting Pawnshop launches online unit

MANILA, Philippines – Filipino-owned Tambunting Pawnshop is joining the digital bandwagon through the launch of its online division.

Through the online service, clients can get cash without having to leave their desks.

Tambunting Online is a three-way partnership between Tambunting Pawnshop, MFT Group of Companies and GrabExpress.

Ramon Tambunting, company president, said the move is part of its efforts to adapt to the changing times.

The existing pawnshops will continue with their existing customers. This segment, on the other hand, will accept other times such as luxury bags and anything of value and not necessarily just jewelry, he said.

“With this, one can pawn gadgets, motorbike or even art,” he added.

To address security concerns, Tambunting Online has put all the necessary measures in place to protect its customers.

“We have reputable insurance companies that are backing us including for robbery or hi-jack. The entire process ensures that consigners are secured,” said Maria Francesca Tan, president and chief executive officer of MFT Group of Companies, a financial holdings and Angel Investing Group.

GrabExpress head Angelina Tham also said that GrabExpress bikers have undergone a strict accreditation process prior to onboarding, which includes investigation and clearances.

Customers just need to log on to www.tambunting.com.ph and then provide personal information and the valuable items for evaluation, with help from a virtual assistant when necessary and without the need to submit documents and other forms. Tambunting Online’s team of experts will then review the item and give a guaranteed best offer through email.

A free pick-up will then be arranged through GrabExpress, which will deliver the items to Tambunting’s headquarters for final appraisal.

“Upon acceptance of the offer, the user will receive the cash within 24 hours, either as a bank deposit or as a remittance via Palawan Express,” Tambunting Online said.