How to Shop Cashless Without A Credit Card

Have you ever experienced waiting all day at home for a delivery from an online store because you’re on a Cash-On-Delivery arrangement? How about having to leave a store mid-purchase because you’ve just realized you didn’t bring enough cash? Surely, you’ve faced at least one of these inconvenient situations. Being limited to the physical cash you’re carrying on your pocket can be a hassle, right?

You’re not the only one to think so. In fact, Visa’s Consumer Payment Attitude Survey revealed that 6 out of 10 Filipino respondents prefer cashless payments, and 29% of Filipinos have already started carrying less cash. The results aren’t surprising because it’s just more convenient to go cashless. 

Benefits of Cashless Payment

Cashless payments can you save time. You can skip the long queues for the ATM or at your bank to withdraw.  Additionally, cashless payments are safer and more traceable. Once you lose banknotes and receipts, they’re gone forever.  Whereas if you use a credit card, you’ll easily be able to track where you spent that money. You can even call up the financial institution to replace your card if you’ve lost it.

Sadly, for many Filipinos getting a credit card is challenging. Credit card applications have requirements that not everyone can meet.  Requirements such as having an existing credit history or an Income Tax Return (ITR) are difficult to comply with if you do not have a credit card in the first place or you work as a freelancer. Steep minimum annual salary requirements also limit the number of applicants who are eligible.

Thankfully, there are easier options that allow you to make cashless transactions. If you can’t get a credit card, don’t fret!  Scroll down to learn about how you can shop cashless even without a credit card.

4 Ways Shop Cashless Without A Credit Card

Cashless payment means spending less time at the ATM and over-the-counter transactions. It’s also less risky than carrying rolls of cash on public transportation. Fortunately, you’re no longer limited to credit cards that are hard to obtain in order to shop cashless.

Here are the four most accessible ways Filipinos can use to start going cashless: 

  • Debit Card

Debit cards work like a credit card. You can swipe your debit cards at malls or use them when shopping online. The difference is that debit cards are connected to your existing savings or checking account, which means that the amount you spent will be directly deducted from your bank account. While there are no interest fees, there is often a required maintaining balance. Debit cards also work as ATM cards.

  • Prepaid Card

Another handy cashless method you can explore is prepaid cards. Unlike debit cards, you’d have to make a loan or deposit an amount to your prepaid card in order to use it.

When you make a cashless transaction, the amount will be deducted from the existing load you deposited into your prepaid card. There are no interest fees and no maintaining balance so you’re free to deposit enough money for your desired transactions and proceed to payment.

  • E-Wallet

E-wallets are one of the fintech innovations that make cashless transactions more accessible. E-wallets are often a mobile app wherein you can top up how much money you want to store in your e-wallet (often through a telecom, a convenience store, or a bayad center) in order to use for both offline and online transactions. Unlike the debit and prepaid cards, E-wallets allow the convenience of paying for items via QR code.

  • Credit Line App

While the three earlier options limit your spending to the amount you put in, credit apps work just like a credit card. Another fintech revolution, credit apps like Cashalo offers a line of credit you can use to make cashless payments online and in-store.

Cashacart is a credit offering within the app that allows you to take a loan of an amount from P2,000 to P19,999 (think of it as a credit limit) to purchase multiple items from appliances, electronics, household items, apparel, or school supplies from Cashalo’s 250 retail partners.

What’s great about the service is that no collateral is required to obtain a loan. Additionally, Cashalo offers flexibile payment periods of at a very low monthly interest rate.


Go Cashless with Cashalo

Cashless payments make shopping more convenient, safe and traceable. There are various routes you can take to start going cashless without a credit card. There are debit cards, prepaid cards, e-wallets, and credit apps you can maximize to make cashless transactions.

For a more inclusive and accessible way to make cashless payments, Cashalo is the optimal alternative. It works just like a credit card without the stringent application process and requirements.

Install the credit app now and make your first cashless transaction today!