GCash seeks to launch a "Buy Now, Pay Later" service in 2021
GCash is expanding its financial services in 2021 with its new "Buy Now, Pay Later" service. It aims to address the financial challenges Filipinos face.
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| GCash to add "Buy Now, Pay Later" service |
GCash continues to expand financial services offered in PH with "Buy Now, Pay Later"
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| You can use services like GSave, GInvest, GCredit, and GLoan |
The GCash "Buy Now, Pay Later" service aims to lift some of the financial burdens the pandemic brought to Filipinos. The company stated that this service aims to ease the friction being experienced by unbanked and underserved Filipinos. It is another service that allows Filipinos to have some financial flexibility when they are buying essentials and more.
In addition, GCash also shared that its Assets Under Management for its GSave product has grown to over PHP 9 billion in 2021 from PHP 5 billion in 2020. Its GInvest product launched in 2020 with 4 new fund categories and it has helped GCash capture 70 percent of the domestic market of UITF accounts in just 6 months.
GCredit disburses PHP 1 billion worth of loans a month on average with PHP 15 billion worth disbursed as of June 2021. It also provided Filipinos great repayment rates and GCash claims that it has the lowest past-due and non-performing loans. The company also partnered with CIMB Bank to provide better services with GCredit.
GCash also announced the piloting of GLoan which is a new service that allows qualified users to borrow as much as PHP 25,000, with repayment spread over 12 months.
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