GCash serves 1M borrowers, disburses P40B in loans


Leading local mobile wallet GCash said it has served one million borrowers and disbursed more than P40 billion worth of loans as it continues to expand its platform with more relevant lending services.

GCredit, GLoan, and GGives have logged one million active borrowers as of the end of June, GCash said.

With GLoan, GCash users can borrow up to P25,000 instantly which can be paid between nine to 12 months even without collateral. 

GGives, meanwhile, is a buy now pay later solution with affordable installment terms of up to 24 payments in 12 months.

GCredit, on the other hand, is a revolving mobile credit line on the GCash app which can be used to pay for goods and services.

Apart from these, GCash also has other financial products like GSave, GInsurance, and GInvest.

GCash said that in early 2022, GSave accounts reached more than 3.3 million, while Ginvest registered more than 3.4 million investors in the first six months of the year.

The GCash app is available for free download via the Apple App Store, Google Play Store, and Huawei App Gallery.