Personal Development, Finance, and Investing For Filipinos
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Annie Perez | FuentesManila
GCash boosts Filipinos' purchasing power with new financing option.
Technology has been developing by leaps and bounds to offer convenient solutions for users. In the financial technology (fintech) space, one of the recent developments is GGives, a “Buy Now, Pay Later” option recently introduced by GCash, the no.1 e-wallet app in the Philippines. This feature allows e-wallet users to buy big-ticket items and pay for them in easy ‘gives’ or installments.
GGives is the newest feature on the GCash app where users can shop from their favorite brands, treat themselves or buy gifts for their loved ones, and pay for them later through twice-monthly payments. With GGives, Filipinos can upgrade their lifestyle while managing their expenses as it allows qualified users to pay for big-ticket items valued up to PHP30,000 in up to 24 installments or ‘gives’ for as long as 12 months.
“GCash’s new lending features, such as GLoan and GGives, are tailor-made for Filipinos’ purchasing behaviors, such as installment pay or hulugan. This is because it allows them to have enough freedom to maximize their money while still getting to enjoy what they want and need. With GLoan and GGives, Filipinos now have access to safe and efficient credit services that offer fair and transparent interest rates, to help them cope with these challenging times,” explained GCash president and CEO Martha Sazon.
Another feature introduced by GCash to e-wallet users is GLoan, a financial service that allows eligible users to borrow funds for various purposes that will help improve their lifestyles. With GLoan, they can instantly borrow up to PHP25,000 and get it in the form of actual cash in their GCash wallet. They can use the money for anything — whether for emergencies, travel, a small business, home renovation, gadget upgrade, or to pursue their passion! Approved users have the option to pay in nine to 12 months.
These GCash features come after the successful launch of its lending financial service products like GCredit, which reached a milestone of one million borrowers as of the end of 2021. GLoan also disbursed a total of PHP1 billion.
GGives is available to users with a high GScore on the GCash app. For qualified users, you may activate your GGives in just a few easy steps: Tap “view all services” on the GCash app then select GGives. Next, simply verify and complete your information on GGives and upon approval, you’re all set to avail of GGives!
To apply for a GLoan, qualified users can tap “View all GCash Services” on the GCash app then select GLoan. Once on the loan selection page, select your terms, and once approved, you’ll instantly receive the funds in your GCash account.
Eligible users can enjoy GGives in over 27,000 stores via Scan QR with more branches and options for users soon. On the GCash app, shoppers can buy from Robinsons Department Store, Robinsons Supermarket, The SM Store, Ministop, S&R Supermarket, Nike, Mercury Drug, Southstar Drug, Power Mac Center, MemoXpress, Datablitz, and many more!
Aside from this new service, users can also enjoy GSave, an online savings bank; GInvest, an easy investment feature; GInsure for insurance for medical emergencies; and GLife, the e-commerce feature, all on the GCash app.
Filipinos can download the GCash app for free on the Google Play or App Store.
For more information, visit https://help.gcash.com/hc/en-us/articles/4411269013529-What-are-the-things-that-I-need-to-know-before-using-GGives-.
GCash (G-Xchange, Inc.) is the #1 Financial App in the Philippines. Through the GCash App, customers can easily purchase prepaid airtime; pay bills at over 1.3k partner billers; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 4.5M partner merchants and social sellers; cash-in and cash-out at over 170k partner agents; and get access to savings, credit, insurance and invest money all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.).
GCash was recognized by The Asian Banker (TAB) and by the IDC in 2021 for its outstanding digital financial inclusion programs impacting more than 55 million Filipinos in the country today.
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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.