Cashalo introduces the first-of-its-kind e-commerce digital-credit payment solution
Cashalo enables fly-now, pay-later solution on Cebu Pacific flights
Cashalo, rolled out its latest innovative product, Pay with Cashalo—a cutting-edge digital-credit payment solution designed to provide a transparent and consumer-friendly payment alternative to cash and traditional credit. Echoing its mission of making digital financial services more easily accessible to everyone, including unbanked and underserved Filipinos, Pay with Cashalo gives unrivaled choice, freedom, and flexibility to address lifestyle needs and provide a convenient, transparent and secure digital credit payment facility.
On top of making payments easier and more convenient, Cashalo’s solution helps broaden the e-commerce experience of Filipinos. Pay with Cashalo empowers Filipino consumers to easily pay for their online purchases over time, even without a credit or debit card. Data from the Bangko Sentral shows that less than 16 million Filipinos, or roughly only 23% of the population have bank accounts, with even less owning credit cards.
Kicking-off Pay with Cashalo, the fintech company partnered with Cebu Pacific that will enable more Filipinos to fly now and pay later. Through Pay with Cashalo, travelers can book flights worth a maximum of PHP7,000 on Cebu Pacific, use the new digital-credit solution as a payment alternative, then pay later in affordable installments over three or six months.
Hamilton Angluben, General Manager of Cashalo, said: “Through innovation, we are able to unlock greater financial possibilities for more Filipinos. As a first-of-its-kind solution, we firmly believe that ‘Pay with Cashalo’ can transform how Filipinos from all segments of society transact online and build a more secure financial future. We’re thrilled to launch this product with our valued partner Cebu Pacific who shares our mission to empower every Juan with more opportunities and create memorable moments.”
Pay with Cashalo is fully integrated into the booking system of Cebu Pacific. Travelers can easily choose Pay with Cashalo and enjoy its benefits as they book their domestic flights, with credit approval processed in less than three hours.
Candice Iyog, Vice President for Marketing and Distribution, Cebu Pacific said, “As Cebu Pacific enables every Juan to fly by broadening the base of travelers with affordable and accessible flights, our partnership with Cashalo will harness more potential travelers through a fly now, pay later scheme. It will enhance payment options for our customers and even provide assistance to those who have urgent travel needs.”
In the coming months, Cashalo will be partnering with many more e-commerce platforms and merchants to integrate Pay with Cashalo as a payment alternative.
By continuing to develop innovative and purpose-built financial products, Cashalo pushes financial inclusion forward while simultaneously promoting financial literacy. The company recently launched CashAcademy, a grassroots financial education program that makes accessible online and offline free learning modules and training resources to benefit more Filipinos. CashAcademy aims to cultivate a generation better equipped to make sound financial decisions, making them “Pera Experts”- financially aware and responsible.
Cashalo is a leading fintech platform used by millions of Filipinos to build financial identities, access fast, secure, affordable credit and other financial services, and take control of their financial health. Since its launch in 2018, Cashalo has already helped over 1.5 million previously ‘credit-invisible’ Filipinos build a financial identity. The company continues to see rapid growth, with the Cashalo app in the phones of more than 3.5 million users and counting.
Cashalo is a wholly-owned subsidiary of Oriente, a Hong Kong-headquartered technology and data science company committed to financial inclusion in emerging Asia. Oriente’s founders include visionary leaders behind internet giants Skype and LU.com. JG Summit Holdings, Inc. is an important strategic partner and investor in Oriente’s regional efforts to build the future of finance and unlock economic value for the millions of unbanked people, underserved communities and merchants across Southeast Asia.
Communications Lead, Cashalo