Filipino fintech (financial technology) company Cashalo is seeing significant growth with its O2O (offline to online) basket financing solution, Cashacart, which is now available nationwide across a growing network of almost 300 retail partner stores.
Said to be the first-of-its-kind solution in the Philippines that allows consumers to access digital credit from as low as 0 percent for their specific shopping needs via the Cashalo app. This allows Filipinos to purchase multiple products or a basket of goods from a particular store.
Launched just three months ago, Cashacart received positive feedback from consumers who have tried this service. Cashacart caters to every consumer, from millennials to homemakers and young entrepreneurs, with a majority of its consumers experiencing the flexibility of installment loans for the first time.
“We’ve financed over P1 billion worth of products in just a few months, changing the lives of thousands of Filipinos,” said Hamilton Angluben, general manager of Cashalo. “Our basket financing solution, Cashacart, is an industry first and continues to set the standard for innovation in offline retail consumer financing, giving millions of Filipinos access to the credit they deserve where they need it most.”
“Cashacart was developed in the Philippines, to fill a significant void in the market. The overwhelming response we’ve received from consumers and retailers alike is a testament to our commitment to steer the course for the future of innovation in the industry by pioneering the development of products and solutions that Filipinos want.”
Loans range from P2,250 to a maximum of P20,999.
Consumers can access Cashacart through the Cashalo app which can be downloaded from the iOS App Store and Google Play Store.