GCash’s ‘Buy Now, Pay Later’ and lending options - a fit for Filipinos’ financing needs
In a continuing effort to provide convenient fintech solutions for customers’ daily needs, leading mobile wallet GCash recently introduced GGives, a “Buy Now, Pay Later” feature that allows customers to buy big-ticket items and pay for them in easy “gives” or installments.
GGives is the newest feature on the GCash app which is designed to suit Filipinos’ financing needs, helping uplift their lifestyles while effectively managing their expenses. The service allows qualified users to pay for items valued up to P30,000 in up to 24 installments or ‘gives’ for as long as 12 months. Through GGives, customers can now shop from their favorite brands, treat themselves or buy gifts for their loved ones, and pay for them later through twice-monthly payments.
“GCash’s new lending features, such as GGives and GLoan, 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,” said GCash President and CEO Martha Sazon.
“With GGives and GLoan, 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,” she added.
GCash’s GLoan feature, on the other hand, is a financial service that allows eligible users to borrow funds for various purposes that will help broaden their lifestyle options. With GLoan, they can instantly borrow up to P25,000 and get it in the form of actual cash in their GCash wallet. They can use the money for any purpose, whether for emergencies, travel, a small business, home renovation, gadget upgrade, or to pursue their passions and interests. 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. GLoans also disbursed a total of P1 billion.
GGives is available to users with a high GScore on the GCash app. Qualified users may activate GGives in just a few easy steps. First, 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 the service.
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 will 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 to be made available 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 the following on the GCash app: GSave, an online savings bank; GInvest, an easy investment feature; GInsure for insurance covering medical emergencies; and GLife, the e-commerce feature.
The GCash app may be downloaded for free on Google Play or App Store.
For more information, visit GCash’s GGives article.