GCredit offers higher maximum credit limit, lower minimum amount due. GCash, the Philippines’ top financial super app, is poised to give more users access to affordable formal credit as it launches innovations for GCredit, in partnership with leading digital banking services provider, CIMB Bank PH. “GCredit has been an essential tool in helping us achieve our goal of providing fair loans to more Filipinos,” said Tony Isidro, President and CEO of Fuse Lending, GCash’s lending affiliate. “In fact, GCredit has already empowered over 2 million users across the Philippines through our partnership with CIMB – giving users a much-needed lifeline to help them achieve their goals.” The two companies are set to introduce new features for GCredit which aim to help current users manage finances even better and make it accessible for more users. "GCredit now offers a higher maximum credit limit of up to P50,000, which they can use to pay bills and buy products online or in physical stores, and has further reduced the minimum monthly repayments (minimum amount due) to be more amiably affordable for our customers and encourages more people to turn to digital payments which is safer, faster and more rewarding,” shared CIMB Bank PH Chief Executive Officer Vijay Manoharan." GCash and CIMB lowered the monthly minimum amount due to 10% of the principal loan amount plus interest and fees in line with making the service more accessible. Accessible and affordable credit for all Maria Victoria Luz Martinez is among the 2 million customers who have been empowered by GCredit. Like many Filipinos, she had no experience borrowing from formal financial institutions. But thanks to GCredit, she can now easily pay bills or buy essential goods even if she’s short on cash. “Actually never ako nagkaroon ng credit card. Dito ako kay GCash naka-experience ng GCredit. Hindi mo kailangan mangutang mismo sa tao, o sa 5-6 (loan sharks). Mas mababa ang interest na binibigay ni GCash so hindi ka hassle. Hindi ka nahihirapan unlike sa iba na mas malaki pa yung interest dun sa principal na hiniram mo,” Martinez recounted. That’s why Martinez recommends GCredit to her family and friends so that they can access affordable and safe credit. With more GCredit innovations, Fuse Lending and CIMB aim to reach more users, especially those who resort to usurious informal credit just to make ends meet. The two companies are also working together to make GCredit available for Paleng-QR Ph transactions. Soon, GCash users can pay for goods in Paleng-QR Ph-ready public markets across the country, allowing them to buy their essential day-to-day goods even if they’re short on cash. About GCash
GCash (G-Xchange, Inc.) is the #1 Finance App in the Philippines. Through the GCash App, users can easily purchase prepaid airtime; pay bills at over 1,600 partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6M partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only duacorn in the Philippines which is a part of the country's leading digital solutions platform, Globe Group. GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity and inclusion as well as taking urgent action to combat climate change and its impacts, respectively. About Fuse Lending, Inc. Fuse Lending, Inc is a company that offers simple, affordable, and secure loans in the Philippines. Its primary goal is to enable individuals and small businesses to achieve financial security and growth through various digital lending products. Fuse Lending is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only duacorn in the Philippines. It’s also regulated by the Securities and Exchange Commission (SEC). About CIMB Bank Philippines CIMB Bank Philippines is a digital-only commercial bank providing innovative mobile-first digital banking solutions and services. Named by Forbes as the Top # 1 Bank in the Philippines in its 2023 World’s Best Banks ranking, it has garnered 83 prestigious international awards and is a leader in digital banking products and services in the Philippines. Currently serving around 7 million Filipinos and over 2.5 million lending customers, CIMB Bank Philippines is also part of the CIMB Group, one of ASEAN's leading banks in over 16 global markets.
0 Comments
Leave a Reply. |
PLACE YOUR ADS HERE Join and Subscribe to my Newsletter. It's FREE! EMAIL SUBSCRIPTION
ABOUT THE
BLOGGER Hi, I'm Ralph Gregore Masalihit! An RFP Graduate (Registered Financial Planner Institute - Philippines). A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy). Currently, I'm working my way toward time and financial freedom. PLACE YOUR ADS HERE FOLLOW ME ON FACEBOOK & X Categories
All
|