SkyroCredit, Skyro's QR Ph credit line, now pays up to 30% cashback in spending categories you choose each month, on top of a 0% interest window of up to 45 days — but new users start with a limit of ₱1,000 to ₱10,000, not the ₱100,000 ceiling in the headlines. Here is what the lender actually announced, and the fine print to read before you scan a QR code on credit.
What Skyro announced at its Mooove! event
At the Skyro Mooove! event at SM Mall of Asia on October 18, Skyro said it is moving from one-off purchase financing to an "everyday finance" lineup: SkyroCredit for day-to-day spending, Product Loans for big purchases, and Cash Loans. "Our ambition is to become a financial partner that customers can turn to for more of their needs," said Dmitriy Vavulidi, Skyro's head of product. The company also previewed a SkyroCredit Virtual Card for online and contactless payments, with no launch date yet. Chief operating officer Ira Franco framed the shift the same way at the event, per Newsbytes.PH's coverage.
Skyro entered the Philippines in 2022 and says it now has more than 7 million registered users, over 3 million loan transactions, more than 10,000 partner retail locations, and a credit portfolio above $200 million (around ₱12.6 billion). Newsbytes.PH reports Mindanao is its largest regional market.
How the pick-your-own cashback works
The cashback revamp was detailed in Skyro's October 7 announcement. Each month you pick four categories from a menu that includes groceries, fast food and restaurants, drugstores, online shopping, gas, bills, and education, plus a flat 0.5%-on-everything option. Eligible purchases in your chosen categories earn up to 30% back, with no minimum spend, and every ₱1 of cashback spends as ₱1 on a future SkyroCredit purchase in the app.
Two caveats, straight from the company's own materials:
- "Up to 30%" is a ceiling, not a rate. Skyro's announcement does not publish a fixed rate per category, and says categories and rates change monthly. Newsbytes.PH reported that education carries the highest rate and described seven selectable categories; Skyro's own release describes picking four. Check the app's current month before counting on a number.
- The math only works on planned spending. If your chosen category does pay the full 30% that month, ₱1,000 of eligible purchases returns ₱300 of in-app credit — a real discount if you were buying groceries anyway, and an expensive temptation if you were not.
Limits, interest, and the fine print
Skyro's help pages spell out the terms the launch headlines skip:
- Starting limit: ₱1,000 to ₱10,000. The limit can grow to ₱100,000 for customers who pay on time and use the line regularly — ₱100,000 is where the line can end up, not where it begins.
- Interest: 0% for up to 45 days, but only if you pay the interest-free amount by the due date. Skyro does not publish a single ongoing rate; it says pricing is risk-based, so your actual rate is in the loan agreement you sign. Read it before the first purchase, not after.
- Fees: no annual or service fees, per the help center.
- Eligibility: Filipino citizens aged 18 to 70, with one valid government ID, a smartphone, and an active Philippine mobile number. You can apply at skyro.ph, in the Skyro app, or through agents at partner stores.
Because the limit is revolving, repaid amounts become available again without a new application — convenient, and exactly why it deserves the same caution as a credit card.
Where you can actually spend it
SkyroCredit works anywhere QR Ph is accepted — Skyro counts more than one million participating merchants nationwide. You scan or upload the merchant's QR Ph code in the Skyro app and pay from your available limit, in-store or online. If you are new to the national QR standard, our guide to how QR Ph payments work and how to stay safe with them covers the scanning and scam-avoidance basics. In an earlier rollout report, Skyro named Jollibee, DALI Supermarket, Mercury Drug, SM, Watsons, and fuel stations among its top merchants.
Who this is for
If you already pay for groceries, fuel, or bills by QR Ph and can clear the balance inside the 45-day window, SkyroCredit now stacks a category cashback on top of interest-free float — a combination no regular e-wallet balance gives you. If you tend to carry balances, the unpublished risk-based rate after day 45 is the number that matters, and it is the one Skyro does not advertise. Borrow for timing, not for stretch.
