GCash's PHP 50B disbursement in 2022 and portfolio boost strategy for 2023

GCash, the country's leading mobile wallet, said load disbursements as of end-2022 already hit PHP 50 billion.

GCash set to release more loan services

More borrowers tapping GCash loan services

The company attributed this to the "strong performance" of its credit affiliate Fuse Lending, Inc. as well as its growing user base.

See also: GCash loan disbursements reach PHP 2.5 billion in 10 months

Fuse Lending is leading the following services: GCredit, which is in partnership with regional banking giant CIMB Bank, GGives, and GLoan.

According to Tony Isidro, chief executive officer of Fuse Lending, the number of Filipinos who tapped GCash's loan services stood at 2 million last year.

We have already reached 2 million borrowers in the past year, providing many individuals with access to their first lending product from a legitimate financial institution. These include micro, small, and medium enterprises (MSMEs) like vendors in public markets as well as tricycle drivers, Isidro said.

To keep the momentum, the official said GCash continues to boost its portfolio by introducing more innovations, including Borrow Load—a feature that would allow customers to borrow prepaid credits for all major networks, introducing them to the concept of borrowing with ease.

Special loans are also being prepared for underbanked individuals, such as farmers and sari-sari store owners.

To further grow our lending business, GCash is planning to introduce its lending products in Paleng-QR Ph transactions, wherein our customers can use their personal credit line when transacting in public markets. This year, eligible customers can also avail of 0 percent installment payments in select merchants through GGives, Isidro said.

GCash President and CEO Martha Sazon see 2023 as "a banner year" for the company’s lending business, stressing their 76 million users can expect more financial solutions from the group.