GCash pushes financial inclusion with QR-based mobile lending facility

MANILA - GCash operator Mynt on Wednesday said it was promoting financial inclusivity through its fully mobile and QR-based lending feature called GCredit.

GCredit allows users to pay bills and purchase from partner merchants using a credit line accessible within the GCash app, its operator said in a statement.

The credit limit will depend upon users' GScore, the first trust-based credit score system in the country earned through GCash transactions, eliminating the need for "tedious documentations," the statement said. More transactions mean higher GScore and higher credit limit.

“GCredit was designed so that no one who needs credit would be rejected. Typically, when customers apply for a loan, there’s that anxiety that stems from not knowing whether they will get approved or not. We don’t want that,” Mynt president and CEO Anthony Thomas said.

“We want customers to feel that they have earned our trust and they are worthy to get credit."

GCredit, which has been on the Gcash app since March 2018, extended P1 billion in credit to consumers only a year after it was introduced, its operator said.

Mynt is a partnership between Globe Telecom, Ayala Corporation, and Ant Financial.