“By providing non-collateralized and affordable loan products such as GLoan, GCredit, and GGives through the GCash app, Fuse Lending has successfully supported almost 4 million Filipino loan borrowers, helping millions of Filipinos achieve their financial aspirations and goals in a more convenient, easier, and simpler way,” said Tony Isidro, president and CEO of Fuse.
A GCash study found that nine out of 10 Filipinos need to borrow money, but do not have access to formal lending institutions and banks.
To date, Fuse has given access to fair lending to Filipinos from the grassroots sector such as farmers, sari-sari store owners, public market vendors, and other micro, small, and medium enterprises.
To help more Filipinos unlock their financial goals, Fuse and GCash introduced the latest addition to their lending service offerings – GLoan Sakto, a nano-loan product that can jumpstart Filipinos’ access to formal credit. With this, ordinary Filipinos can borrow as low as PHP100, to accommodate short-term needs or even the smallest-but-urgent expenses – all without requiring users to submit numerous documents and undergo tedious application processes.
With a shared mission to foster financial progress for all, GCash and Fuse recognize that digital financial tools and services that enable enterprises big and small to serve their customers and employees are vital for economic growth.
GCash has onboarded over 6 million partner merchants, including key partners like Puregold and TikTok Shop. Over 49,000 stores nationwide make it possible to pay for purchases with credit (GCredit) or installment (GGives) with their GCash app. Currently, over 94 million users have tried GCash – making it the country’s biggest digital ecosystem.
Anchoring its shared vision of “Finance for All," GCash through Fuse Lending continues to open up a world of opportunities for millions of Filipinos and play a significant role in shaping the country's financial landscape into a more inclusive, and diverse ecosystem. For its part, Fuse has been doubling down to achieve its vision of providing access to fair loans that spark better everydays for all Filipinos through its mission of fintech-enabled lending delivered frictionlessly.
The GCash app is available for free on Google Play and the App Store For more information, please visit https://www.gcash.com
About Mynt
Mynt is the first and only $5 billion unicorn in the Philippines. It's a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 Finance App in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
Mynt and GCash are staunch supporters of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
For more information, please contact:
Bruce Rodriguez, Head of Business Communications
Corporate Communications
Legal Disclaimer & Safe Harbor Statement
This press release is for informational purposes only and does not constitute, or form part of, any offer, solicitation, or invitation to sell, issue, purchase, or subscribe for any securities in the Philippines, the United States, or any other jurisdiction. No securities of Mynt, Inc. have been or will be registered under the U.S. Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. There will be no public offering of the securities of the Company in the United States. No money, securities or other consideration is being solicited by this document or the information contained herein and, if sent in response to this document or the information contained herein, will not be accepted. Any potential initial public offering and listing in the Philippines, if pursued, remain fully subject to prevailing market conditions and regulatory approvals, including the registration requirements of the Philippine Securities and Exchange Commission and the listing rules of the Philippine Stock Exchange, Inc., and there can be no assurance that any such filings will be made or that any offering or listing will be consummated. This document contains forward-looking statements that involve inherent risks and uncertainties; actual results, timelines, and outcomes may differ materially from those projected due to shifting market dynamics, economic environments, and regulatory updates.
