GCash: Empowering MSMEs to Flourish in the Digital Economy beyond E-Wallet Services

GCash, the leading financial super app in the Philippines, is dedicated to empowering micro, small, and medium enterprises (MSMEs) to seize opportunities and thrive in the digital economy by offering innovative fintech solutions.

During the celebration of MSME month, GCash emphasizes its crucial role in elevating businesses in the country through an extensive range of digital financial services. Ren-Ren Reyes, President and CEO of G-Xchange, Inc. (GXI), the mobile wallet operator of GCash, highlighted the company’s commitment to supporting MSMEs. GCash has evolved beyond being a simple e-wallet and now provides a comprehensive suite of services designed to bolster business growth.

With GCash’s fintech solutions, MSMEs can access GLoan, which offers instant cash loans to kickstart their business goals. Additionally, through a partnership with Malayan Insurance, GCash’s GInsure provides business owners with insurance coverage to safeguard their hard-earned investments and protect their assets and operations.

For seamless payment experiences, GCash offers Scan-To-Pay, a convenient QR code payment solution that enables easy and secure transactions offline. This user-friendly feature ensures that business owners can reach a broader customer base by providing hassle-free and cashless payment options.

GCash’s commitment to supporting MSMEs is evident in its efforts to equip them with the necessary tools to navigate the digital landscape successfully. By offering affordable lending, insurance protection, and efficient payment solutions, GCash contributes to the growth and prosperity of businesses, reinforcing its position as the Philippines’ number one financial super app.

Easy access to loans for entrepreneurs

GLoan stands out for its straightforward application process, which leverages users’ in-app behavior to offer pre-approved loans. This innovative approach ensures that eligible users can effortlessly access GLoan and utilize the funds to kickstart or enhance their business ventures.

Impressively, 35% of GCash’s borrower base comprises business owners, demonstrating the platform’s appeal to the entrepreneurial community. To further support and empower the informal sellers, GCash aims to extend lending solutions to an additional 1.5 million individuals. By doing so, GCash endeavors to fuel the growth of these businesses, fostering economic development and financial inclusion within the community.

Business Protection made affordable and accessible

GCash recognizes the inherent risks associated with starting businesses, and to address this concern, the super app has introduced Negosyo Insure, available through GInsure, underwritten by Malayan Insurance and powered by Igloo. With Negosyo Insure, MSMEs can secure their business operations against unforeseen accidents that may impact their property, money, and overall operations, providing them with peace of mind.

For a remarkably affordable annual premium starting at just PHP 525, MSMEs can enjoy the benefits of comprehensive insurance coverage. Accessing GInsure through the GCash app is incredibly convenient, with minimal requirements and straightforward processing steps. This user-friendly approach ensures that business owners can efficiently safeguard their enterprises and focus on their growth and success with confidence.

Additional income made easy via GCash PO

GCash has introduced an opportunity for sari-sari store owners to elevate their businesses by earning up to Php 50,000 per month through commissions or bonuses as a GCash Pera Outlet (PO). This initiative not only fuels the growth of small enterprises but also benefits local communities by providing them with a convenient one-stop-shop for GCash services, including Cash In, Cash Out, Pay Bills, and Send Money.

Joining as a GCash Pera Outlet is a simple process, accessible through the GCash app. Interested individuals need only click on “GCash PO” under business services on the GCash dashboard, complete the application form, and submit it along with their business registration. Approval typically takes only five (5) to seven (7) business days.

In line with their mission to achieve “Finance for All,” GCash is dedicated to empowering MSMEs in achieving their business goals. Currently, the company supports a remarkable 845,000 small-scale community merchants, including public market vendors, sari-sari store owners, and tricycle driver associations. By providing these opportunities, GCash contributes to the prosperity of local businesses and fosters financial inclusivity within the communities it serves.