Need Cash for an Online Purchase? Try This Microloan from Cashalo and Lazada
If you’ve ever needed to buy something online but were short on cash, you’re in luck. A new product from financial technology platform Cashalo and ecommerce giant Lazada allows online shoppers to borrow money with zero interest and no processing fees.
Customers who avail of these so-called Lazada Loans are entitled to funds of up to P2,500 with zero interest and zero processing fee.
“We have seen encouraging traction for Lazada Loan since we introduced it last year,” said Chino Flor, general manager of the Gokongwei-backed Cahsalo platform. “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."
Customers may avail of this offer by signing up on the microsite. Backed by Gokongwei family-owned JG Summit and Oriente, Cashalo offers loans and credit financed by Paloo Financing Inc. The company’s mobile app has been downloaded in over 9.5 million devices to date.
“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,” Flor added. “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 added that the company also hopes to entice Lazada Loan users to avail of other Cashalo products, such as 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,” Flor said. “Our vision is to provide Filipinos greater and easier access to a wide array of financial services.”