Valora launches ok.– cash, its new credit product

08.12.2015 / 09:00 / Openings, Shareholder

Following the successful introduction of bob money, Valora is now launching ok.– cash, its second innovative financial-services offering. ok.– cash provides loans of between CHF 1,000 and CHF 3,000 for a maximum of three months. Credit applications are made online, simply and discreetly. Funds are then credited to an ok.– prepaid VISA or MasterCard account at any k kiosk or Press & Books outlets in Switzerland.

Starting today, Valora is offering its new ok.– cash service online, via, and at all its k kiosk and Press & Books outlets in Switzerland. Customers apply for credit online, without having to visit a bank. Approved amounts are then immediately ready to be transferred to an ok.– prepaid VISA or MasterCard account.

No bank. No form filling.

By dispensing with a visit to a bank and deploying innovative technology, ok.– cash represents a milestone in the development of credit products in Switzerland. The service provides customers with a transparent, hassle-free and discreet way of taking out small-scale loans to meet their short-term borrowing needs.

The online credit application process, jointly developed by Valora and its bob Finance subsidiary, is designed to meet the needs of customers seeking individual, independent solutions. Questions relating to loan applications can be answered online or by phone. Whether they use the service from home or on the move, from a desktop computer, a tablet or a smartphone, ok.– cash guarantees smooth, hassle-free execution. “ok.– cash provides our customers with a secure, discreet and modern way of accessing small-scale financing when they have to meet short-term, unforeseen spending needs.”, as Andreas Schneider, Head of Retail New Services, explains.

How ok.– cash works

ok.– cash provides loans of between CHF 1,000 and a maximum of CHF 3,000. Amounts are calibrated in steps of 100 francs and the maximum lending period is three months. Lending rates are attractive, ranging from CHF 10 per month for a CHF 1,000 loan to CHF 30 per month for CHF 3,000. Once the application has been approved, the borrower receives a QR code. By presenting this at the nearest k kiosk or Press & Books outlet, he or she can then have the amount credited to an ok.– prepaid VISA or ok.– prepaid MasterCard account.

ok.– cash loans are granted only to customers whose financial situation permits such borrowing. By applying high lending standards and a set of tried-and-tested guidelines, ok.– cash is able to check in advance whether a loan application is compatible with the borrower's financial situation. The issue of potential excessive borrowing by young adults has also been addressed, since the ok.– cash service is available only to customers aged 25 or above.