Digital-credit payment solution Cashalo teams up with local carrier Cebu Pacific in launching a new product specifically geared toward travelers. The Pay with Cashalo system allows travelers who don’t have credit or debit cards book flights using the loan app as the payment option.
Pay with Cashalo is fully integrated into the booking system of Cebu Pacific. Travelers can easily choose Pay with Cashalo and wait for the credit approval which is processed in a few hours. Travelers will be able to book domestic flights worth a maximum of P7,000 payable in installments of three to six months exclusive of processing fee and interest.
“This new offering is in line with Cashalo’s aim to ignite economic opportunities for all communities,” said Linda Lan, VP, Digital Commerce, Oriente.
Data from the Bangko Sentral shows that less than 16 million Filipinos or only 23% of the population have bank accounts, with even less owning credit cards.
“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, VP, Marketing and Distribution, Cebu Pacific.
Lan also revealed that the company will be rolling out the payment option for international flights in the coming months.
Iyog clarified that this payment option won’t be available in its Piso Fare sale but can be used in other seat sales.
Since its launch in 2018, Cashalo has already helped over 1.5 million previously ‘credit-invisible’ Filipinos build a financial identity. The company continues to see rapid growth, with the Cashalo app in the phones of more than 3.5 million users and counting.