Gokongwei-backed financial technology (fintech) platform Cashalo has expanded its strategic partnership with e-commerce giant Lazada to introduce a new product that allows online shoppers to borrow money.
Cashalo General Manager Chino Flor said the expanded tie-up Lazada customers are entitled for a micro loan called Lazada Loan of up to P2,500, which has “zero interest and zero processing fee.”
“We have seen encouraging traction for Lazada Loan since we introduced it last year. We want to be able to continue growing that momentum and empower more Filipinos to buy online by offering them a zero-interest, zero-processing fee option,” he said.
Customers may avail of this offer by signing up on Cashalo’s microsite. Cashalo offers loans and credit financed by Paloo Financing Inc.
“Through our expanded partnership with Lazada, we believe that more and more Filipinos will have greater ability to provide the joy of Christmas to their loved ones. This new payment option is best for those who would like to do their Christmas shopping online or those who simply need products that are readily available on Lazada,” Flor said.
Flor added that Cashalo also hopes to entice Lazada Loan users to avail of other Cashalo products such as the zero-interest installment in select Cashalo partner stores, and cash loans for urgent needs.
“Since day one, our goal has always been to promote financial inclusion in the country. Our vision is to provide Filipinos greater and easier access to a wide array of financial services,” Flor said.
Cashalo is backed by JG Summit and Oriente. Its mobile app has been downloaded in over 9.5 million devices to date.