The two financial behemoths are collaborating to reach the highest number of Filipinos who cannot access fair lending terms due to traditional financial credit scoring methods.
RCBC will introduce Pasado Loans, a 24/7 loan product that requires zero collateral. It will also use the digital Pasado Loan Engine to measure the creditworthiness and profiles of potential applicants. In addition to the portal, Filipinos can also apply through partner merchants or digital channels found in digital marketing engagements.
GCash will enable people to apply for Pasado Loans through the GCash app, making the application more seamless and highly convenient for Filipinos who are always on the go yet face hurdles in applying for formal loans and credit in banks and other financial institutions. Prospective loan applicants may borrow from Php 30,000 to Php 500,000. They must submit their credentials through the Pasado Loan portal or partner merchants to apply for a loan. The Pasado Decision Engine will evaluate these applications, delivering results within seconds. The applicant will receive the disbursed amount through their RCBC Diskartech account upon approval. Loan payments can also be facilitated through an auto-debit arrangement in RCBC Diskartech.
As it continues to be the undisputed leading finance app in the country, GCash champions financial inclusion by offering an unparalleled suite of services, including payments, savings, and loans. With its user-centric approach and commitment to enhancing financial well-being, GCash is helping pave the way for greater financial empowerment for every Filipino wherever they are.
“GCash is committed to transforming the financial landscape in the Philippines. By partnering with RCBC, we’re not just making loans accessible; we’re opening doors to opportunities for countless Filipinos. Together, we’re shaping a more inclusive future for all,”
said Tony Isidro, CEO of Fuse Lending, the official lending arm of GCash.
RCBC Executive Vice President and Chief Innovations and Inclusion Officer Lito Villanueva lauded the partnership as a great example of how collaborations can empower more Filipinos. He added that Pasado Loan is set to change lives positively and open many doors to Filipinos.
“Our partnership with GCash is a great example of bayanihan in the fintech sector. By fusing our powers, we reach a larger group of Filipinos and serve them by helping them reach their goals and materialize their aspirations,”
Villanueva said.
“Pasado Loans is set to transform lives. Our partnership with GCash will accelerate that positive change by opening financial options to more Filipinos.”
Villanueva added.
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.
