GCash extends over P2B in microcredit

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    Globe Telecom Inc. mobile wallet unit GCash , has extended over P2 billion of microcredit facility in the first half this year, up 26 percent versus last year P1.7 billion.

    Through Gcash sister company Fuse Lending it offers GCredit on the mobile wallet application.

    The value of GCredit transactions is double versus a year ago

    GCredit, which works like a flexible loan or credit card, gives GCash access to extra budget that they can use to buy groceries from supermarkets, medicines from pharmacies and even utility bills.

    GCredit is a revolving credit facility that can be tapped when a GCash user has a healthy GScore, the first trust score in the country. GCash users earn points in their GScore whenever they use GCash to settle any payment or even when simply cashing in.