Economy

GCash says P40 billion worth of loans disbursed

BW FILE PHOTO

ONE MILLION active borrowers have been registered on Globe Fintech Innovations, Inc.’s mobile money service platform GCash as of the end of June, its top official announced on Monday.

At the same time, the company has disbursed over P40 billion in loans, GCash said in an e-mailed statement.

“The services… have further undergone innovations, whether in savings, investing, insurance, and lending,” said Martha M. Sazon, GCash president and chief executive officer.

The platform’s GLoan, which provides access to up to P125,000 cash loans, does not require any collateral and gives borrowers up to 24 months to repay, the company said.

Meanwhile, GGives, a “buy now, pay later” option on the platform, allows installment terms of up to 24 “gives” in 12 months. Users can shop at GCash’s partner merchants for up to P125,000 worth of items.

The application’s GCredit is a revolving mobile credit line that can also be used to pay for goods and services.

The platform also houses other financial products such as GSave, GInsure, and GInvest.

“As of the first semester, GSave accounts have reached more than 3.3 million, with one in five banked Filipinos already having a GSave account,” GCash said.

“Insurance provider GInsure, meanwhile, has sold more than two million policies to date,” it added.

Moreover, investment marketplace GInvest has registered more than 3.4 million investors in the first six months. — Arjay L. Balinbin

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

Disclaimer:

TheProficientInvestor.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 TheProficientInvestor. All Rights Reserved.

To Top