Fintech platform Cashalo and e-commerce site Lazada will soon start offering zero-interest loans to customers as part of its partnership. Using digital credit, Lazada shoppers will be able to check out without extra cost or hidden processing fees.
“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,” said Chino Flor, GM, Cashalo.
The zero-interest, zero-processing fee Lazada Loan is available for new users who register on Cashalo’s microsite. They are entitled for a micro loan of up to P2,500.
Cashalo offers loans and credit financed by Paloo Financing Inc.
To apply for a Lazada Loan, users simply have to register online through Cashalo’s microsite, download the Cashalo app, fill out a Lazada Loan application, and wait for the approval.
“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.