The leading e-wallet provides Filipinos a new way to access multi-purpose loans while offering flexible payment schemes
In a country where 44% of the population remains unbanked according to the Bangko Sentral ng Pilipinas, and high inflation pushes the prices of basic goods higher, Filipinos are finding it more difficult to achieve both their short- and long-term financial goals.
Recognizing that loans, credit cards, and other borrowing means are important in helping Filipinos fund their lifestyle and needs, GCash, the country’s #1 e-wallet app, introduces three in-app solutions that offer users the flexibility of borrowing money and choosing their payment terms, breaking down barriers that prevent the majority of the population from taking advantage of financial leverage.
“GCash has been a part of everyone’s daily lives, but we are introducing more ways to help Filipinos manage and achieve their financial goals and lifestyle. With GGives, GLoan, and GCredit, eligible users can use their GCash app to borrow cash at their convenience, instantly get their loan application approved, and pay off their dues with flexible terms,” Isidro added.GGives is an easy and flexible payment installment plan built to make purchasing big-ticket items lighter on the pocket.
Kevin Yu, Head of GLoan, highlighted, “While there are already a lot of existing loan products, GLoan is more accessible for Filipinos. For eligible users, there is absolutely no need to provide additional documents and collateral to approve the loan. All they have to do is submit their loan application and wait for the loan to be credited straight to their GCash wallet within 24 hours.”GCredit, powered by CIMB, is a readily available credit line for eligible users.
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