Fintech company Cashalo has rolled out its new digital-credit payment solution, Pay with Cashalo. The new digital payment solution uses cutting-edge technology designed to provide a transparent and consumer-friendly payment alternative to cash and traditional credit.
According to the data presented by the Banko Sentral ng Pilipinas, only about 23 percent of Filipinos have bank accounts with even less owning a credit. Cashalo’s solution broadens the e-commerce experience of Filipino. Pay with Cashalo lets consumers pay for their online purchases even without a credit or a debit card.
As part of the launch, Cashalo has partnered with Cebu Pacific fulling integrating the new digital payment solution to the airline’s online payment method. Travelers can book a flight worth as much as PHP 7,000 on Cebu Pacific and pay later in installments over a period of three or six months. Credit approvals are also done in less than three hours.
“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 opportunities and create memorable moments,” said Hamilton Angluben, General Manager of Cashalo.
“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,” said Candice Iyog, Vice President for Marketing and Distribution, Cebu Pacific.
Cashalo will be partnering with more e-commerce platforms and merchants to integrate Pay with Cashalo as a payment alternative in the coming months.