Investment/ Finance, Travel & Culture

Cebu Pacific and Cashalo Introduces First Fly Now Pay Later Scheme in the Philippines

The first-ever ‘airline ticket financing’ facility is now available in the Philippines as Cebu Pacific and Cashalo  partnered to bring a Fly Now Pay Later program in their system.

Cashalo the fintech company committed to building a more financially inclusive future for Filipinos, rolled out its latest innovative product, Pay with Cashalo—a  cutting-edge digital-credit payment solution designed to provide a transparent and consumer-friendly payment alternative to cash and traditional credit.

Echoing its mission of making digital financial services more easily accessible to everyone, including unbanked and underserved Filipinos, Pay with Cashalo gives unrivaled choice, freedom, and flexibility to address their lifestyle needs and manage their financial well being through secure, simple and convenient digital-credit payment options. 

As part of the launch, Cashalo has extended its existing partnership with Cebu Pacific to introduce the regions first-ever ‘airline ticket financing’ solution designed to enable more Filipinos to fly now and pay later. Through Pay with Cashalo, travelers can book domestic flights up to a maximum of PHP7,000 on Cebu Pacific, use the new digital-credit solution as a payment alternative, then pay later in affordable installments over three or six months.

The Pay with Cashalo option is fully integrated into the booking system of Cebu Pacific. Travelers can easily choose Pay with Cashalo as their preferred option and enjoy its benefits as they book their domestic flights, with application approval in as fast as three hours

On top of making digital payments easier and more accessible, Cashalo’s mobile-first solution helps elevate the shopping experience of Filipinos. Pay with Cashalo empowers Filipino consumers to easily pay for their online or offline purchases over time, even without a credit or debit card. Data from the Bangko Sentral shows that less than 16 million Filipinos or roughly 23% of the population have bank accounts, with less than 10% owning credit cards. 

Hamilton Angluben, General Manager of Cashalo, said: “Through innovation, we are able to unlock greater financial possibilities for more Filipinos. As a first-of-its-kind solution, we firmly believe that ‘Pay with Cashalo’ can transform how Filipinos from all segments of society transact online and build a more secure financial future. We’re thrilled to launch this product with our valued partner Cebu Pacific who shares our mission to empower every Juan with more opportunities and create memorable moments.”

Candice Iyog, Vice President for Marketing and Customer Experience, Cebu Pacific said, “As Cebu Pacific enables every Juan to fly by broadening the base of travelers with affordable and accessible flights, 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.”

 

In the coming months, Cashalo will be partnering with many more e-commerce platforms and merchants to integrate Pay with Cashalo as a payment alternative. 

Cashalo is deeply committed to developing innovative financial products designed to unlock financial access and opportunity for more Filipinos. Earlier this month the company launched its national grassroots financial education program – CashAcademy – that works with public and private sector partners to distribute offline and online learning modules and training resources purpose-built to develop a generation that is more financially aware and better equipped to make responsible financial choices, making them “Pera Experts”.

 

About Cashalo

Cashalo is a leading fintech platform used by millions of Filipinos to build financial identities, access fast, secure, affordable credit and other financial services, and take control of their financial health. 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. 

Cashalo is a wholly-owned subsidiary of Oriente, a Hong Kong-headquartered technology and data science company committed to financial inclusion in emerging Asia. Oriente’s founders include visionary leaders behind internet giants Skype and LU.com. JG Summit Holdings, Inc. is an important strategic partner and investor in Oriente’s regional efforts to build the future of finance and unlock economic value for the millions of unbanked people, underserved communities and merchants across Southeast Asia. 

 

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