Cebu Pacific is looking to offer Filipino travelers a new service that will allow to “pay later” for travel bookings.
The airline has partnered with Cashalo and announced the new program that would offer a pay later scheme for domestic travel bookings on the Cebu Pacific website. Travelers with domestic travel bookings worth less than PHP 7000 (USD $134) could make payment installments within a 3-6 month period. A monthly interest of 8.75% will be placed on the remaining balance. The service will have a one-time processing fee of 5%.
The budget airline along with Cashalo is aiming to offer Filipino travelers without an established history to develop it along with making air travel more appealing.
Cashalo is a subsidiary of Hong Kong-based Oriente. In the Philippines, it has partnered with Philippine conglomerate JG Summit Holdings Inc. which owns the low cost airline. The company offers an application with 1.5 million users offering users a formal source of credit.