Mobile wallet GCash extended over eight billion pesos in much needed credit to customers to date through its digital credit facility.
The amount extended through GCredit was a significant jump from the five billion pesos in June, and has benefitted over 900,000 customers since its inception.
GCash said GCredit, launched in March 2018, gained popularity during the pandemic, with users extending their budgets for their groceries and payment for their utility bills.
The company said the growth in this service demonstrates the positive disruption being provided by financial technology in the country, offering vast convenience to its customers.
GCredit is the pioneering mobile-first digital credit facility powered by Fuse Lending that helps extend the budgets of GCash users.
It is one of the many innovative features of GCash where users are enabled to borrow amounts within a certain credit limit to pay for goods, services and bills to partner merchants.