Cashalo’s pioneering basket financing solution, Cashacart sees unprecedented growth as it launches nationwide

Cashalo, the Filipino fintech company with a mission to accelerate financial inclusion in the Philippines, is seeing unprecedented growth with its revolutionary O2O (offline to online) basket financing solution.

Cashacart, which is now available nationwide across a growing network of almost 300 retail partner stores including Oppo, Cherry Mobile, Memoxpress, Robinsons Appliances and Robinsons Department stores. Loans start at PHP 2,250 up to a maximum of PHP 20,999. 

The first-of-its-kind solution in the Philippines allows consumers to access digital credit from as low as 0% 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 3 months ago, Cashacart has received overwhelming support from consumers clamoring for the convenience and flexibility that the solution offers. September 2018 data by consulting firm Research and Tech Lab show that almost 70% of Filipinos still prefer traditional over online shopping. 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 Php 1 billion worth of products in just a few months, changing the lives of thousands of Filipinos,” shares Mr. 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 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.”

Applying for digital credit through Cashacart is simple and can be done in a few easy steps:

• Visit a Cashalo partner store and look for a Cashalo representative who will help you complete a digital application.
• The application requires you to submit basic personal information and a valid ID.
• You can then choose a loan amount and payment terms of your choice.
• In addition, the newly launched loan calculator helps you understand your exact instalments.
• Approval in as fast as 10 minutes.
• You can then shop for your “basket of goods” up to the value of the digital credit line you have been approved for.

The pioneering Cashacart financing solution is part of Cashalo’s comprehensive suite of financially inclusive products, committed to unlocking financial access, freedom and opportunity for millions of Filipinos. Consumers can access Cashacart through the Cashalo app which can be downloaded from the iOS App Store and Google Play Store. To learn more, please visit http://www.cashalo.com