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Credit-Starved Venezuelan Shoppers Flock to Buy Now, Pay Later App Cashea
- Argentine-built service offers no interest and quick approvals
- Fintech sees rapid growth continuing after Black Friday boom
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Venezuela’s economic crisis and raging hyperinflation have rendered credit cards useless, but a new buy now, pay later app is bringing customers back to the checkout line.
Customers in Caracas flocked to Venelectronics, a large appliance store, last week seeking Black Friday deals. Their purchases were bankrolled by Cashea, which has added more than 1.2 million clients in just over a year thanks to pent-up demand for consumer credit.