Cashalo, Lazada partner for zero-rate financing

MANILA, Philippines — Gokongwei-backed fintech platform Cashalo and e-commerce giant Lazada have expanded their strategic partnership to offer zero-interest loans to Lazada customers.

The expanded partnership aims to provide online shoppers an easy payment option that provides access to a loan for purchases that has zero interest and zero processing fee.

This allows Lazada shoppers to checkout their carts using digital credit at no 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,” Cashalo general manager Chino Flor said.

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.

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 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 said Cashalo also hopes to entice Lazada Loan users to avail of other Cashalo products such as the zero-interest installment in select 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.

Cashalo, a fintech platform that provides secure, transparent, and reliable access to various financial services including digital-credit, has been downloaded in over 9.5 million devices to date.

Cashalo is a wholly owned subsidiary of Hong Kong-based Oriente. Gokongwei-owned JG Summit Holdings is a strategic partner and investor of Oriente.

All loans under the Cashalo platform are financed by Paloo Financing Inc.