Converge prepaid service books 500,000 users
Converge ICT Solutions Inc. said on Thursday its prepaid internet service continues to gain ground, with about 500,000 active users logged in two years after its launch.
Dennis Anthony Uy, CEO and cofounder of Converge, said the increasing popularity of the group’s prepaid brand Surf2Sawa (S2S) shows “the strong adoption” of Filipinos to prepaid broadband models.
This, as consumers explore cheaper connectivity services.
Introduced in 2022, S2S is aimed at the mass market, which is more budget-conscious. Users can choose top-up options from P50 to P700. S2S offers unlimited internet connection and has no lock-in periods.
Converge said the prepaid service can link up to six devices, with speeds of up to 50 megabits per second.
The firm’s rivals have also started rolling out their own prepaid services. This is a development that Converge sees as a “win” to address the digital gap, according to JP Aguilar, head of consumer and SME at Converge.
“For years, many Filipinos have had to rely on wireless alternatives that, while useful, often fall short in offering reliable connectivity. S2S fills in that gap, and we’re glad to see that more customers are embracing this,“ Converge vice president Conrado Pascual said in a disclosure.
“The growth runway for us is still wide, as we continue to improve awareness and accessibility of our brand,” Pascual said. He is also head of Converge’s Surf2Sawa product management business unit.
Pascual said Converge has recorded “strong” demand in Metro Manila as well as South and Central Luzon.
The service has also begun gaining more traction in some areas in the Visayas and Mindanao.
The listed fiber broadband and technology provider booked a double-digit growth in net income for the first six months. This reached P5.9 billion from P5.3 billion last year.
The group’s consolidated revenues also saw an 11.6-percent growth. These hit P21.8 billion from P19.5 billion.
Converge’s residential segment continued to be the main growth driver, with revenue contribution at P18.4 billion. Converge ICT ended the first semester with more than 2.8 million residential subscribers.
The enterprise unit, meanwhile, pitched in P3.4 billion.
