GCash expands lending business – Manila Bulletin


Mobile e-wallet GCash is expanding its lending business to GLoan and GGives, disbursing over 40 billion pesos in loans by mid-2022, to provide more options for Filipinos to manage their finances.

“We enable Filipinos to pay for everything they want and need in a convenient way,” reiterated GCash Chief Customer Officer Winsley Bangit.

“With our suite of loan products, more people can better manage their finances and live the life they deserve,” he added.

GGives allows GCash users to buy now and pay later for items worth up to P125,000 from GCash partner merchants.

For more funds, GCash offers GCredit which offers a line of credit on other GCash services, such as Scan to Pay, Shop Online and Pay Bills.

Borrowers can avail a P30,000 line of credit at over 20,000 stores, billers and online merchants and pay a pro-rated interest rate of 5%.

Those with business activities and other immediate financial needs can borrow up to 125,000 pesos from GLoan to be paid in installments of 265 pesos per month.

“GGives, GCredit and GLoan are available to fully verified GCash users with a good GScore reputation,” says Bangit.

“To increase your GScore, maintain a healthy account balance by cashing in regularly and use various GCash services such as Pay Bills, Send Money and Pay Online,” he advised.

Apart from loans, GCash offers other financial products such as GSave, GInsure and GInvest.

In the first half of the year, GSave accounts reached more than 3.3 million, with one in five banked Filipinos already having a GSave account.

Insurance provider GInsure, meanwhile, has sold more than 2 million policies to date.

It has over 24 product offerings, ranging from health and online shopping to vehicles and pets, as it has partnered with over 10 reputable names in the industry.

Meanwhile, the GInvest investment marketplace registered more than 3.4 million investors in the first half of the year, with about one in five mutual fund investors in the country already on the GInvest platform. It also has seven local and global funds.

GCash (G-Xchange, Inc.) has 69 million registered users in its GCash app, over 1,600 partner billers nationwide, and over 5.2 million partner merchants and social sellers.

GCash is a wholly owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only duacorn in the Philippines.

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