Budget carrier Cebu Pacific and mobile lending platform Cashalo have teamed up to launch a "Fly Now, Pay Later" program.
Officially launched in Makati City on Tuesday, the partnership will allow passengers of Cebu Pacific to book flights worth a maximum of P7,000 through the Cashalo platform.
The pay later scheme will be available in installments of over three to six months. It will have a monthly interest of 8.75%, which will be placed on the remaining balance.
"It will enhance payment options for our customers and even provide assistance to those who have urgent travel needs," said Candice Iyog, vice president for marketing and distribution of Cebu Pacific.
The Pay with Cashalo option is now fully integrated into the booking system of Cebu Pacific, with credit approvals said to be processed in less than three hours on average.
"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," Cashalo general manager Hamilton Angluben said.
Cebu Pacific earlier this week announced a P99 seat sale for one-way domestic flights from the Clark International Airport. — MDM, GMA News