Cashalo Now Has A Pay Later Program

Shop Now, Pay Later programs are on the rise these days – and it’s not surprising why.

First, you don’t need a credit card. Even without this, you can still avail of this service and pay for your purchases on installment basis. Second, documentary requirements are easy to provide. All you need are proof of billing, valid ID, and proof of payment, and you’re good to go. Lastly, it is convenient. You don’t need to go out of the house because you can apply at the comfort of your own homes.

BillEase and TendoPay are two major players in the Shop Now, Pay Later program in the Philippines. In fact, they partnered with big merchants including Lazada to make online shopping easier and more convenient for consumers. Then, there’s the entry of Cashalo. 

Cashalo has been around for quite sometime, offering digital credit to thousands of unbanked Filipinos. Recently, they joined the installment market through their PayLater program.

Here is everything you need to know about Cashalo’s PayLater program:

A New PayLater For The New Normal

This is Cashalo’s tagline as they launched their installment program. The new and improved PayLater program is a flexible credit line that you can use to purchase your daily needs. This credit line can be used when buying items from Cashalo e-store or partnered merchants offline.

What makes the new PayLater different from the previous facility is that it brings not just more partner merchants but also higher credit limit of P2,000. This way, you can shop (responsibly, please) from your favorite stores and stretch your budget for a couple of months.

Anyone can apply for Cashalo’s PayLater program as long as you can provide the requirements needed. Simply download the app, complete your user profile, and then apply for a credit line. You will receive a notification stating that you can now use your credit line.

If you already have a Cashalo account, then you can still apply. Just make sure you don’t have an outstanding balance so you can apply for this facility.

Cashalo PayLater Features:

  • Monthly interest rate: 4.5 percent
  • 0% interest IF the loan is paid on or before the due date or within 30 days from the start of the billing cycle. For instance, if your loan started on January 1, then you need to pay for it on or before January 30 to enjoy 0% interest.
  • Processing fee: 4 percent
  • Changes in credit limit may be possible after a month or every billing cycle
  • Cashless transaction wherein you can present the voucher code or scan the QR code to pay for your purchases

How To Apply For Cashalo PayLater Program

  1. Download the Cashalo app. This is available in App Store (for iPhone users), Google Play Store (Android users), and App Gallery (for Huawei users). Don’t worry since the app is free.
  2. Complete your user profile. Make sure to upload all of your valid IDs since this will give you a higher chance of approval. Maintain honesty and truthfulness when filling out the form.
  3. After filling out the customer profile, click Activate PayLater in the Cashalo app.
  4. Fill out the necessary information asked.
  5. Wait for Cashalo’s notification on whether your credit line is ready to use.

Once approved, you can use your credits to buy vouchers from Cashalo e-Store using the Cashalo app. You can also use it to buy vouchers offline with Cashalo’s partner merchants.

Take note that you can only use one Cashalo product at a time. This means if you plan to apply for PayLater program, make sure you don’t have an existing loan with the company to qualify.

Surely, Cashalo could add more features in their PayLater program, but this is a good step. It provides an alternative service to consumers who are normally not given access to various financial products. This gives them more buying power, which can be helpful in times of difficulty.


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