DIGITAL wallet GCash on Monday said it has made borrowing within reach for UNBANKED FILIPINOS IN NEED OF fiNANCIAL support as they recover from the impact of the pandemic.

Globe said that GCash disbursed more than P40 billion worth of loans as it expanded to more relevant lending products like GLoan and GGives.

It added that with GCredit, GLoan and GGives altogether, GCash has recorded 1 million active borrowers as of end June.

GLoan provides pre-approved access to up to P25,000 cash loans instantly. It does not require any

collateral and allows borrowers to choose their payment terms over nine or 12 months.

On the other hand, GGives is a buy now, pay later solution with affordable installment terms of up to 24 installments over a 12-month period.

Users may shop up to P125,000 worth of items at partner merchants to enjoy flexible payments with low interest rates.

GCredit is a revolving mobile credit line on the GCash app that can also be used to pay for goods and services.

Aside from lending, GCash has other financial products such as GSave, GInsure and GInvest.

As of the first half of 2022, GSave accounts have reached more than 3.3 million, with 1 in 5 banked Filipinos already having a GSave account.

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

It has more than 24 product offerings, providing insurance coverage for health and online shopping to vehicles and pets, as it has partnered with more than 10 reputable names in the industry.

GInvest has registered more than 3.4 million investors in the first half of the year, with around 1 out of 5 mutual fund investors in the country already on the GInvest platform. It has seven local and global funds investors they can choose from to manage their risk exposure.

“The company’s good performance has been driven by continuous innovation. The services that have disrupted the payment space have further undergone innovations, whether in savings, investing, insurance and lending. We partner with and are trusted by the most innovative and biggest market players as we continue to pursue financial inclusion,” Martha Sazon, GCash president and chief executive officer, said.