FINANCIAL technology (fintech) platform in the Philippines Cashalo is expanding its presence in the Visayas with the introduction of its pioneering Shop Now, Pay Later service in Cebu, supporting the growing demand for fintech services in the region.
Cashalo partnered with Robinsons Department Store-Fuente Cebu, Robinsons Department Store-Galleria Cebu, Gear Up-Jakosalem Cebu, Spyder-SM Cebu, Moto Inspira-SM Cebu, SM Department Store-Seaside City Cebu and SM Department Store-Consolacion to initially roll out Shop Now, Pay Later in Cebu.
“Cebu is a very important market for Cashalo and we view it as our next frontier. We see a huge growth opportunity in Cebu’s very vibrant market. Our expansion in Cebu also reflects Cashalo’s optimism in the Visayas region, and down the line, in Mindanao. This initiative also strengthens our commitment of enabling more Filipinos to gain access to financial tools and services that were previously unavailable to them,” Cashalo general manager Chino Flor said.
Shop Now, Pay Later is Cashalo’s pioneering offline to online (O2O) consumer financing product which enables consumers to access digital credit for their specific shopping needs at retail stores, allowing them to purchase multiple products such as appliances, household items, apparel, electronics and school supplies, among many others across its network of partner retail stores.
Credit lines range between P2,500 up to a maximum of P15,999. Consumers may start processing for their loans via the Cashalo app and have their approval in the store in a matter of minutes, making it faster and more convenient for consumers.
“With the holiday season marking a new era of hope for Filipinos, we know everyone is excited to spend their Christmas with their loved ones. By introducing Shop Now, Pay Later we are democratizing access to financing in Cebu, empowering Cebuanos to shop for their needs with ease and comfort,” Flor said.
Cashalo is open to taking in new merchant partners to provide Cebuanos a wider array of store choices for their shopping needs. (with PR)