Venezuelans turn to financing apps to purchase products

In the midst of a fluctuating economic reality, and with a minimum salary integral equivalent to 130 dollars per month, as announced on May 1 by Nicolás Maduro, the possibility of the Venezuelan power Meeting the needs of your home has become an uphill process.

In the face of difficulties, and in a country that has been in crisis for more than a decade forgot regarding credit purchasesproposals are born that give a respite to the active population, who can attend associated stores make a down payment and then pay the full amount in interest-free installments.

In recent months, Cashea has become popular in the market, partnering with stores that offer electronic equipment, white goods, shoe stores, clothing, and recently announced that they are available in pharmacies and supermarkets.

Likewise, Krece is another platform that responds to the “Buy Now, Pay Later” (BNPL) business model. Launched in March 2024, it has the same features as Cashea, but initially it can only be used to purchase Android devices. Once the user has used the app, Krece allows you to purchase other products.

Impact on the population

Karem Gil is a social communicator, specialized in the area of ​​digital marketing. Currently, she depends on a minimum wage and assures that this type of platform has been a positive factor in her day to day life, as it has allowed her to acquire products that she needed. without the worry of making a cash expense.

«Cashea has been an amazing tool for my personal shopping. I used to buy clothes only once a year, but now it’s something I do much more often. It makes my lifestyle easier because, although sometimes the cheaper products can be tempting, I prefer to invest in high quality products that I know will last longer. and they will give me better results,” comments Analítica.com.

The 28-year-old also asserts that the platform has become an “invaluable tool.” to compare prices and find the best deals without compromising quality.” “It helps me make informed decisions and find products that fit my needs and preferences.”

For her part, Lisbeth Amundaray is an administrator who earns more than the minimum wage, but she assures that applications like this have been helpful to her. to plan your personal purchases without spending your entire budget.

«Most of the time I use Cashea for personal purchases. It helps me because I can buy things that are a little bit more expensive without going too far out of my budget. It allows me to plan my spending on various things. “according to the amount available at the time.”

In his opinion, apps like Cashea o It starts has had on Venezuelans “such a significant impact economically speaking. It is a tool that makes a difference if used responsibly.«.

Consumer confidence

Denys Salomón, an economist and consumer of these apps, explains that access to this type of credit has allowed Venezuelans “to acquire goods and services that might not otherwise be obtained immediately.”

“This includes items such as video game consoles or other luxuries. These goods can be enjoyed in the present, without having to wait to save up the money needed to purchase them, and they are interest-free.”he asserts.

But, remember that the perspective responds to the economic conditions of the country, since there are acquisitions “which in cash is even cheaper elsewhere.”

He also highlights that as much as it can be useful, Not having interests does not mean there are no risks.

«Taking advantage of credit can be an option to satisfy specific needs or desires. However, it is important to mention that the use of credit entails certain risks. Excessive debt can create a financial burden that is difficult to manage, especially if income is not sufficient to cover monthly payments.

In this sense, he states that it is important to understand that Venezuela’s economy is “strange.”

This is the case of Elymar Caraballo, who once forgot to pay his installments on time and the app charged him $1 per day of delay. “Instead of paying $4, which was my fee, I ended up paying $8.”

Encourage trade

Salomon also established that these initiatives can encourage “consumption by giving customers the possibility of access goods and services without having to pay immediately«.

«This can increase demand and stimulate economic activity, which might be beneficial for merchants by increasing their sales. Cashea offers interest-free credit lines, which can provide consumers with an additional source of temporary liquidity, and this can help cover immediate needs. By having access to ‘extra funds’, consumers can spend more and support businesses«.

He also argues that as more businesses join these applications, the range of products and services also grows. “This can create greater competition between businesses and by being part of the application, lBusinesses can benefit from the advertising and promotion that this provides.which can help increase your visibility and attract more customers.”

Finally, the specialist insisted on promoting a responsible use of these platforms, and specifically of credit, a practice that had been forgotten due to the country’s crisis, “to avoid potential long-term financial problems.”