Cashalo launches the Philippines’ first-ever, O2O (offline to online) basket financing solution the Cashacart.
Using the Cashalo app, Cashacart can have Filipino consumers access digital credit at 0% interest, for all their specific shopping needs across a growing network of 250 retail partners. This includes Robinsons Appliances, Robinsons Department stores, Handyman, Oppo, Cherry Mobile, and Memoxpress. Loans start at PHP 2,000 up to a maximum of PHP 19,999.
The entire process is completed within minutes in a few easy steps:
1) Simply visit a Cashalo partner store and look out for a Cashalo representative who will help them complete a digital application in a few minutes.
2) The application requires you to submit basic personal information and a valid ID.
3) A customer then chooses a loan amount and payment terms of their choice.
4) Upon approval a customer can shop for their basket of goods up to a value of the digital credit they have been approved for.
Consumers in the Philippines have been clamoring for just this kind of innovative financing solution. Recently, Ms. Rose Ong, the newly elected president of the Philippine Retailers Association stated that, the share of online shopping in the country was only about 1-2% of total retail sales, and according to research by RF Group, 80% of online sales are still cash on delivery.
Consumers can also access the Cashacart financing solution through the Cashalo app which can be downloaded on the Apple and Google Play mobile app stores.