Palawan Pawnshop

What Palawan Pawnshop does

Palawan Pawnshop is a privately-held Philippine financial services group founded in 1985 by spouses Bobby and Angelita Castro in Puerto Princesa City, Palawan, operating today as the Palawan Pawnshop Group via five corporate entities (Eight Under Par (Pawnshop Operator), Inc., Palawan Pawnshop Inc., Paragua Pawnshop and Financial Services Inc., VG Star Pawnshop & Jewelry Corporation, and PPS-PEPP Money Shop Services Corporation). The company runs a vertically-integrated one-stop money shop business anchored by gold-jewelry pawning (four interest-rate packages, with rates as low as 1% for 11-day loans) and a domestic and international remittance service branded Palawan Express Pera Padala (PEPP), complemented by foreign-exchange, micro-insurance (ProtekTODO), bills payment, e-loading, GCash/PayMaya cash-in, and bank-account deposit services.

The company monetizes entirely via transaction-based fees: pawning interest (1–3.5% depending on package), remittance fees starting at ₱2.00 and scaling to ₱345 for ₱40,001–50,000 transfers, insurance premiums from ₱5 to ₱300, a ₱50 Suki Card issuance fee, and various ancillary charges. Distribution combines 3,300+ company-owned branches and 10,000+ total service points (including 6,500+ authorized agents and retail chain partnerships with SM, Robinsons, 7-Eleven, and LBC), supported by a digital layer (PalawanPay mobile app, PalaSave digital savings via RCBC's DiskarTech, Online Padala via BDO/BPI/Coins.ph) and a BPI-to-Cash remittance service launched in 2020.

The primary customer base is mass-market and underbanked Filipino consumers — OFW families, gold-pawning customers, and small-business owners including sari-sari stores and online sellers — with formal banking alternatives largely absent in many of the geographies Palawan serves. The company is regulated by the Bangko Sentral ng Pilipinas, complies with the Data Privacy Act of 2012 and AML-TFP rules, and remains under founder-family control with no disclosed institutional external investment.

Name

Palawan Pawnshop

Legal name

Eight Under Par (Pawnshop Operator), Inc., Palawan Pawnshop Inc., Paragua Pawnshop and Financial Services Inc., VG Star Pawnshop & Jewelry Corporation and PPS-PEPP Money Shop Services Corporation

Website

https://palawanpawnshop.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Palawan Pawnshop is a privately-held Philippine financial services group operating 3,300+ branches nationwide, offering pawning, domestic and international remittance, microinsurance, foreign exchange, and bills payment primarily to mass-market and unbanked Filipino consumers including OFW families.

Ownership category

akta.pro rank

Product category

Consumer Pawnshop and Remittance Services

NAICS

Sales Financing (52222), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers (42394)

SIC

Retail-Jewelry Stores (5944), Finance Services (6199)

akta.pro primary industry

Traditional Pawn Loans (Pawnbrokers) (FSAKALAA)

akta.pro secondary industries

Pawn & Collateral-based Jewelry Retail (CRAKAGAL), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Merchant Cross-Border Collections (Pay-ins) & Local Payment Methods (FSAGAKAD)

Keywords

• Pawn brokering services
• Money remittance services
• Microinsurance products
• Foreign currency exchange
• Mobile wallet services

Headquarters

HQ city

Puerto Princesa City

HQ country

Philippines

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D, Supply Chain

Revenue model

1. Pawning/Loan Interest: Interest income from gold jewelry pawning loans. Customers pledge gold items as collateral and pay interest on the loan amount. Four customer choice packages available with varying interest rates (1-3% for short-term, 2-3.5% monthly) and advance interest options.
2. Domestic Remittance (Pera Padala): Fee-based domestic money transfer service. Fees start at P2.00 for amounts P1-100 and scale up to P345 for amounts P40,001-50,000. Suki cardholders receive discounts, Suki points, and rebates.
3. International Remittance Payout: International money transfer collection service where Palawan Pawnshop branches serve as payout locations for incoming remittances from abroad. Partners with international remittance companies including Al Ansari, Metrobank, Remitly, and RIAmittance.
4. Money Changer/Foreign Exchange: Currency exchange service converting foreign currencies (USD, EUR, GBP, JPY, and 18+ others) to Philippine Peso. Handles both buying and selling of foreign banknotes with reservation system.
5. ProtekTODO Insurance: Accident insurance products offered including Sulit Solo (P20), Premium Solo (P50), Premium Pamilya (P100), Sulit Singko (P5), Eskwela Max (P30/P50), Premium Pamilya MAX 300 (P300), and various travel and CTPL insurance options.
6. Suki Card Membership: P50 card issuance fee for loyalty program enrollment. Card provides ongoing discounts and rebates across all services.
7. Bills Payment and E-loading: Utility bill payments and electronic airtime loading services provided at branches. No convenience fees charged for e-loading.
8. Padala to Bank Account: Real-time bank deposit service with P100 fee per transaction, maximum P50,000 per transaction.

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels7 records

Core offering

Palawan Pawnshop operates a one-stop money shop offering gold jewelry pawning loans, domestic and international money remittance (Palawan Express Pera Padala), foreign currency exchange, microinsurance (ProtekTODO), bills payment, e-loading, and digital financial services (PalawanPay wallet, PalaSave savings, Online Padala). Services are delivered through 3,300+ owned branches and 6,500+ authorized agents across the Philippines, regulated by the Bangko Sentral ng Pilipinas. The Suki Card loyalty program binds customers across all transaction types with discounts and rebates.

Product overview

Palawan Pawnshop operates as a comprehensive financial services company under the Palawan Group of Companies, offering a diverse portfolio of products and services primarily through its Palawan Express Pera Padala brand. The core offering centers on pawning services for gold jewelry with multiple Customer's Choice Packages and money remittance services (domestic and international). These are complemented by add-on modules including Money Changer (21+ currencies), Bills Payment, POS Withdrawal, E-Loading, Padala to Bank Account, Suki Card loyalty program, ProtekTODO Insurance, and GCash/PayMaya reloading services. The company has expanded into digital services through PalawanPay (mobile app), PalaSave (digital savings), and Palawan Express Online Padala (online remittance), creating a hybrid model that combines physical branch presence (3,300+ locations) with digital channels. The Suki Card loyalty program connects across multiple services, providing discounts on pawning and rebates on remittances, while the ProtekTODO insurance products are offered as standalone or bundled accident coverage plans.

Differentiator

Problem solved

Functional benefit

Brands

• PalawanPay: Digital payment and financial services app offering Pera Padala, Bills Payment, E-loading, and PalaSave digital savings.
• PalaSave
• Palawan Express Online Padala
• ProtekTODO
• Suki Card

Products and services

• Pawning Service Gold jewelry pawning loans with four Customer's Choice Packages (1-3.5% monthly interest, with optional 1-2 months advance interest) and high appraisal rates, serving mass-market Filipino consumers needing fast emergency cash.
• Palawan Express Pera Padala (Domestic Remittance) Domestic money remittance service offered through 3,300+ Palawan Pawnshop branches and 6,500+ authorized agents nationwide, with fees starting at P2.00 for amounts P1-100. Suki Card holders receive instant rebates and Suki points.
• International Remittance Payout International money transfer payout service for beneficiaries in the Philippines, powered by partnerships with Al Ansari, Metrobank, Remitly, RIAmittance, and ULink. Available at 3,300+ branches nationwide.
• Money Changer / Foreign Currency Exchange Foreign currency exchange service accepting 21+ currencies (USD, EUR, GBP, JPY, and others) for conversion to Philippine Peso. Reservation system available for both buying and selling of foreign banknotes.
• ProtekTODO Insurance Affordable accident insurance products offered at branches, including Sulit Solo (P20), Premium Solo (P50), Premium Pamilya (P100), Sulit Singko (P5, 30 days), Eskwela Max (P30/P50), Premium Pamilya MAX 300 (P300), and travel and CTPL insurance options.
• Suki Card Loyalty Program Lifetime loyalty card providing 5% discount on pawning interest, instant rebates and Suki points for remittance transactions, with P50 one-time issuance fee and no expiration.
• Bills Payment Service Utility bill payment service accepting payments for SSS, PhilHealth, and various utility providers at selected Palawan Pawnshop branches nationwide.
• E-Loading Service Prepaid mobile load and reloading for telecommunication, internet, cable TV, and online gaming subscriptions, offered at branches with no convenience fees or extra charges.
• POS / Cash Card Withdrawal Cash card and ATM withdrawal service via BDO POS terminals, available in select branches with a service fee (P15 in some branches, P40 in others). Maximum withdrawal of P5,000 per transaction.
• Padala to Bank Account Real-time bank deposit service allowing customers to send money directly to any bank account, with P100 fee per transaction and maximum P50,000 per transaction, available 7 days a week.
• PalawanPay Mobile Wallet Digital wallet application enabling Pera Padala, Bills Payment, E-loading, PalaSave digital savings account access, and GCash cash-in services on mobile devices.
• PalaSave Digital Savings Digital savings account accessible through the PalawanPay app with no maintaining balance requirement, offering 4% annual interest on balances up to P50,000, powered by DiskarTech of RCBC.
• Palawan Express Online Padala Online money remittance service enabling users to send money digitally via BDO, BPI, or Coins.ph payment methods, with maximum of 2 transactions per day, P1,000 minimum and P5,000 maximum per transaction.

Quantifiable outcome

• Remittance fees as low as P2.00 for amounts P1-100
• +4 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

14 partnerships are on record, tiered core.

• Al AnsaricoreChannel Partner/ Reseller/ Distributor · 25 November 2025International remittance partner enabling customers to send money from abroad to Palawan Pawnshop branches in the Philippines. Featured in 'Al Ansari to Palawan Bonanza' promotional campaign.
• RemitlycoreChannel Partner/ Reseller/ Distributor · 21 November 2025International remittance partner. Featured in 'Remitly Padala, Panalo sa Palawan!' promotional campaign.
• MetrobankcoreChannel Partner/ Reseller/ Distributor · 1 November 2025International remittance partner for Palawan Express. Featured in 'Metrobank #ClaimMoNaYan to Win sa Palawan' promotional campaign.
• RIAmittancecoreChannel Partner/ Reseller/ Distributor · 20 October 2025International remittance partner. Featured in 'RIAmittance Claim sa Palawan' promotional campaign.
• ULinkcoreChannel Partner/ Reseller/ Distributor · 22 January 2024International remittance partner featured in 'ULINK, U-WIN Raffle Promo' campaign.
• RobinsonscoreChannel Partner/ Reseller/ Distributor · 1 January 2018Remittance partnership making Palawan Express Pera Padala available at Robinsons mall locations nationwide.
• 7-ElevencoreChannel Partner/ Reseller/ Distributor · 1 January 2018Remittance partnership enabling Palawan Express Pera Padala services at 7-Eleven convenience store locations.
• SM Group of CompaniescoreChannel Partner/ Reseller/ Distributor · 1 January 2014Partnership to make Palawan Express Pera Padala money remittances available in SM malls nationwide, significantly expanding accessibility for customers in shopping centers.
• UCPB GencoreStrategic or Co-development Partner · 1 January 2014Partnership to offer microinsurance services (PPS PEPP ProtekTODO) in branches, providing accident insurance products to customers.
• Farwest Lending Investors Development, Inc. (formerly Farwest Lending Investor)coreStrategic or Co-development Partner · 1 January 1997Business affiliate of Palawan Pawnshop established to support the company's expansion program. Significantly supported Palawan Pawnshop's growth initiatives.
• LBCcoreChannel Partner/ Reseller/ DistributorDomestic partner for Palawan Express Pera Padala where customers can claim PEPP remittance transactions at LBC locations nationwide.
• BPIcoreTechnology or IntegrationBank partner enabling BPI to Cash Remittance Service launched in April 2020. BPI account holders can send money to any Palawan Pawnshop branch for cash pickup.
• BDOcoreTechnology or IntegrationBank partner for Online Padala platform. BDO accounts can be used to fund online remittance transactions to Palawan Express.
• DiskarTech (RCBC)coreTechnology or IntegrationTechnology partner powering PalaSave digital savings account through the PalawanPay app. RCBC's DiskarTech provides the digital banking infrastructure for the savings product.

Scale indicators6 records

Recent moves14 records

Expansion highlights6 records

Direct peers

• Cebuana Lhuillier: Philippine pawnshop and remittance giant with a comparable multi-product financial services offering (pawning, pera padala, microinsurance, bills payment) and a similarly large nationwide branch network. Most direct head-to-head competitor to Palawan Pawnshop in domestic remittance and pawning.
• M Lhuillier: Major Philippine pawnshop and money services operator offering kwarta padala, pawning, bills payment, insurance, and e-loading through a nationwide branch network. Directly competes with Palawan Pawnshop on the same mass-market segments and service mix.
• LBC Express: Philippine-based courier and remittance company; partner to Palawan Pawnshop for PEPP claim locations but also a direct competitor in domestic and international remittance and cargo. Comparable on remittance distribution, though LBC's core is logistics rather than pawning.

Broad incumbents

• Western Union (Philippines operations): Global remittance incumbent with payout agent partnerships across the Philippines including at Palawan branches; competes broadly for cross-border OFW remittance. Comparable as a remittance distribution competitor though lacks Palawan's pawning and microinsurance verticals.
• Security Bank (Philippines): Universal bank with remittance and pawning-adjacent services (microfinance, savings, payments). Partner in some Palawan services but a broader incumbent competitor for deposits, remittance, and consumer credit.

Emerging players

• GCash: Globe Telecom-affiliated mobile wallet offering zero-fee P2P transfers, bill payments, savings, and credit. Competes with PalawanPay for digital remittance and with Palawan's brick-and-mortar remittance by removing the need to visit a branch.
• Maya (PayMaya): Voyager Innovations' digital wallet and digital bank offering free transfers, savings, and crypto. Direct competitor to PalawanPay in mobile remittance and to PalaSave in digital savings, with stronger brand awareness among younger Filipino consumers.
• Tonik Digital Bank: Philippine neobank offering deposits, loans, and savings products targeting the same underbanked mass-market segment Palawan serves. Competes for the digital savings wallet share that PalaSave is trying to capture.
• Home Credit Philippines: Consumer finance provider offering installment loans and cash loans to mass-market Filipinos. Competes indirectly with Palawan's pawning business by offering unsecured small-ticket credit to similar customer profiles.

Others

• RCBC (DiskarTech): Rizal Commercial Banking Corporation's DiskarTech powers PalaSave, but RCBC is also an emerging digital bank competitor in its own right. Listed as ecosystem partner/adjacent rather than direct pawnshop competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/palawan.pawnshop
• Xx.com/palawan_express
• LinkedInlinkedin.com/company/palawan-pawnshop

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Palawan Pawnshop