Cashea: the new financing alternative for Venezuelans
Given the lack of consumer bank credit through credit cards, Cashea has emerged in the country as a financing alternative for Venezuelans. The app offers a “buy now, pay later” model, allowing users to make purchases in installments without interest and 0% risk.
One of the founders of Cashea, Pedro Vallenilla, explained that the application enables Venezuelan businesses to offer interest-free term sales, which has led to a 20% increase in sales and greater customer recurrence. Cashea charges a small percentage of the transaction value that goes through its Marketplace.
Vallenilla emphasized that the transaction is financed by the business, which is responsible for collecting the fees, while Cashea supports the promotion, collection, reconciliation, and payment reminders to its users. This financing model provides a much-needed option for Venezuelans who may not have access to traditional credit cards.
The emergence of Cashea reflects a growing trend in the financial technology sector, as companies seek new ways to provide financial services to underserved populations. As the app gains popularity, it could potentially have a significant impact on the way Venezuelans access financing for their purchases.
For more information, visit the Cashea website.