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GCash expands credit facility to more merchants

Richmond Mercurio (The Philippine Star) - September 13, 2020 - 12:00am

MANILA, Philippines — Mobile wallet GCash has partnered with over 17,500 merchants to accept GCredit as a mode of payment.

GCash said its over 20 million users are now able to transact with thousands of establishments via GCredit, a mobile-first digital credit facility powered by Fuse Lending Inc. that helps extend the budgets of its users.

“GCredit is broadening the possibilities for all of us. GCash through GCredit is offering a revolutionary way to still keep our lifestyle, provide for our needs  and achieve our goals when we have less resources compared to the pre-pandemic period,” GCash president Martha Sazon said.

GCredit is a feature of GCash where users are allowed to borrow amounts within a certain credit limit to pay for goods, services, and bills to partner merchants and billers.

It is a revolving credit facility that can be tapped when a GCash user has a healthy GScore, which is earned whenever they use GCash to settle any payment or even when simply cashing in.

Any GCash user with an eligible GScore is entitled to use GCredit. A GCash user may have access to up to P10,000 in credit line with a low prorated daily interest rate.

GCredit does not require users to submit extensive documentary requirements and wait in long lines to gain access to the revolving credit facility.

“We at GCash are cognizant that many Filipinos are struggling to make both ends meet.  GCredit seeks to provide a modest relief for Filipinos to still be able to pull through during these challenging times, while also contributing to the rally of financial inclusion in the country,” Sazon said.

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