Online shopping without a credit card — Lasco and Mailpac partnership

BY STEVEN JACKSON Business reporter jacksons@jamaicaobserver.com

Tuesday, February 10, 2015

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LENDING agency Lasco Financial Services Ltd and courier MailPac Services announced a partnership which allows persons to shop online without credit cards.


More Jamaicans have access to micro-loans than those who have credit cards. Consequently, the partnership would see micro-loans offered for online shopping.


"Lasco Financial Services is empowering consumers to achieve goals and improve their quality of life by providing more convenient options for financing. Lasco's comprehensive lending options have been enhanced through its recent partnership with MailPac which now offers online shopping loans, giving consumers without credit cards access to an online payment solution," according to Jacinth Hall-Tracey, managing director at Lasco Financial, in a release on the matter this month.


This partnership will give Lasco Financial the opportunity to reach MailPac's customer base of 70,000 through its 14 locations islandwide, added the release. It enables MailPac's customers to make online purchases through a loan financed by Lasco Financial. Borrowers can qualify for loans up to $150,000 with repayment terms of up to a year. As a basic qualification, the applicant should be permanently employed for at least a year, possess good credit history and be able to repay loans by salary deduction, stated Lasco about loans in general within the release.


"With the shopping loan, we are able to extend our capabilities to an extensive marketplace and cater to a growing need for online shopping solutions, giving our customers greater access to the global marketplace,"she stated.


The service is one of the ways the lending agency is increasing its micro-loans offerings as part of a recent expansion and restructuring of its loan portfolio.


"Customers who wish to shop online can now obtain the loan to make the purchase and MailPac will arrange the online payment and delivery of the goods," added Lasco.


Lasco Financial also offers debt consolidation, Gov Plus, motor vehicle loans, education loans, home improvement loans, and emergency loans.


"In today's economy loans have become a necessity for Jamaicans. It is essential to help persons meet their financial needs, whether it be back-to-school, home improvement, buying a car or paying off a debt. Our payday loan plans are very popular and good for short-term borrowing or any emergencies that may arise," added Hall-Tracey in the release.


Lasco Financial is one of three affiliated Lasco companies under the chairmanship of Lascelles Chin. Mailpac is run by entrepreneur Khary Robinson.


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