More than an e-wallet: GCash equips MSMEs to thrive in the digital economy

GCash, the Philippines’ number one financial super app, empowers micro, small, and medium enterprises (MSMEs) to take on opportunities and navigate through the digital economy through its fintech solutions.

“This MSME month, GCash underscores its key role in helping businesses in the country level up through our extensive suite of digital financial services. From affordable lending for business expansion; business insurance to protect their assets and operations; as well as cashless transaction tools to help them reach more customers – GCash is evolving to becoming more than an e-wallet,” said Ren-Ren Reyes, President and CEO of G-Xchange, Inc. (GXI), the mobile wallet operator of GCash.

GCash offers GLoan which provides instant cash loans to kickstart business goals; and GInsure, through Negosyo Insure of its partner, Malayan Insurance, to protect hard-earned investments. Business owners can also enjoy seamless payment experiences with Scan-To-Pay, enabling easy QR code payments offline.

Easy access to loans for entrepreneurs

GLoan boasts of an easy application process as it considers users’ in-app behavior to provide them with pre-approved loans. Eligible users can easily access GLoan and use the funds to start or expand their business.

35% of GCash’s borrower base are business owners and it’s looking at providing 1.5 million more informal sellers with lending solutions to help grow their business.

Business Protection made affordable and accessible

GCash also understands that starting businesses may be risky, that is why the super app has made available, via GInsure, Negosyo Insure, underwritten by Malayan Insurance and powered by Igloo. For as low as PHP525 per year, MSMEs can be assured of secure and insured business operations for accidents that may happen to them, their property, and even their money.

GInsure can easily be accessed through the GCash app, with minimal requirements and steps for processing.

Additional income made easy via GCash PO

GCash has also created a way for sari-sari store owners to grow their business by earning as much as Php 50,000 per month, through commissions or bonuses earned as a GCash Pera Outlet (PO). This not only enables small businesses to grow, but also helps locals have a convenient one-stop-shop in their communities so they may avail of GCash’s services such as Cash In, Cash Out, Pay Bills, and Send Money.

Signing up for this has been made simple in the GCash app - all one has to do is click “GCash PO” under business services on the GCash dashboard, fill up the application form and submit along with business registration. Approval will be released within five (5) to seven (7) business days.

“In line with our mission to achieve 'Finance for All', we make sure we are able to pave the way for our MSMEs to meet their business goals. To date, we are empowering 845,000 small-scale community merchants from public market vendors, to sari-sari store owners, and tricycle driver associations,” added Reyes.