GCash Enables Users to Pay Their Bills via Its Micro-Lending Facility GCreditby Fintech News Philippines August 18, 2022
Philippines’ mobile wallet GCash announced that its users will be able to pay their bills via its digital micro-lending facility GCredit.
GCredit is only available for fully-verified users who have enough GScore, a trust score based on a GCash user’s activity, such as maintaining a GCash balance, regular cash-in and cash-out, paying bills, sending money and paying for online purchases through GCash.
GCash has expanded its network of billers to over 1,600 partners, allowing consumers to settle multiple billers without leaving the app.
Basic utilities, such as electricity, water, cable TV, internet, and telecom services, can all be paid through the app as GCash has partnered with national and regional utilities providers and cooperatives.
Aside from utilities and dues, Pay Bills on GCash also covers national and local government services, such as NSO and NBI, where users can settle payments for documents such as birth or marriage certificates and NBI clearance.
Settling taxes with BIR, as well as paying for real estate and business taxes with select local government units, is also made possible as GCash has partnered with local government units.
Aside from one-time payments, monthly contributions for SSS and Pag-IBIG Fund can also be done through Pay Bills feature.
With minimal additional fees, GCash provides a convenient and secure way for users to settle bills without the need to visit bayad centers or multiple offices.
GCash then generates electronic receipts through SMS and email after each Pay Bills transaction.
The Pay Bills service on GCash also allows users to save their billing details so they no longer have to input their account number and contact information each time they need to settle their monthly payments.
Users can also set reminders for their next payment date through the Pay Bills feature, so they can avoid penalties and interest rates that may increase when payments are missed.
GCash is regulated by Bangko Sentral ng Pilipinas and all billers in the Pay Bills service are verified to be legitimate. It also ensures it has stringent security measures in place to prevent scams from unverified payment agents.