Leading finance app GCash, through its lending arm Fuse Lending, Inc., has teamed up with pioneer e-commerce platform Lazada Philippines to help support Filipino entrepreneurs by offering cash loans to eligible platform sellers to help fuel the growth of their online businesses.
The partnership was officiated by Fuse Lending President and CEO Anthony Isidro, Fuse Chief Strategy and Product Officer Baby Aquino, GLoan Product Head Kevin Yu, and Lazada’s Head of Seller Financing Benjamin Ng at a launch ceremony recently held at Bonifacio Global City.
Fuse Lending is the first partner to fully integrate a seller loan product within the Lazada Philippines Seller Center app. The partnership allows Fuse to reach micro, small, and medium enterprises beyond the GCash platform while enabling Lazada to offer loans to its sellers.
"As we continue to grow our presence in the micro, small, and medium enterprise (MSME) sector, which is the backbone of the Philippine economy, we are glad to be Lazada Philippines’ entrusted partner in providing their extensive network of small business owners with cash loans that are easier, safer, and more convenient," said Fuse Lending President and CEO Anthony Isidro.
GCash and Lazada Philippines piloted the program with selected sellers earlier this year, and are now looking to extend their user base over the coming months on the eCommerce platform.
The partnership is also in line with the digital roadmap of the Bangko Sentral ng Pilipinas which aims to strengthen the current landscape of digital payments and digital financial inclusion by making 50% of retail transaction volumes in the country digital. Moreover, the collaboration is a testament to the efforts of both fintech and e-commerce giants to provide effective access to a wide range of digital financial services for all, especially the underserved sectors.
“We're excited to provide Lazada Seller Loans together with Fuse Lending and we believe this offering will give Filipino entrepreneurs more opportunities to thrive in the digital retail space. This partnership represents an important step in our shared mission: contributing towards Sustainable Development Goal 17, expanding financial access to Filipino MSMEs, and accelerating progress in the Philippines,” said Benjamin Ng, Head of Seller Financing, Lazada.
About Mynt
Mynt is the parent company of GCash, the #1 Finance Super App in the Philippines. It’s the first and only fintech company listed on the Philippine Stock Exchange under the “GCASH” ticker symbol. Through GCash, Mynt advances its vision of 'Finance for All' by making financial services more accessible to Filipinos. Mynt operates a portfolio of companies, including G-Xchange, Inc., the payments company responsible for the digital payments and electronic money activities in the GCash app, and Fuse Financing, Inc., the financing company for GCash that provides fair and digitally-enabled credit products and solutions.
Mynt, through its fintech operations, is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly focusing on safety & security, financial inclusion, diversity, equity, and inclusion, as well as taking urgent action to combat climate change and its impacts.
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
