GCash Unit Fuse Teams With Lazada to Offer E-commerce Seller Loan Programme

GCash Unit Fuse Teams With Lazada to Offer E-commerce Seller Loan Programme

by May 6, 2024

E-commerce platform Lazada Philippines has collaborated with GCash and its credit arm, Fuse Lending, Inc., to support Filipino entrepreneurs. The two entities are offering cash loans to eligible sellers on the Lazada platform, with the goal to facilitate the expansion of their online ventures.

Fuse Lending has become the first partner to integrate a seller loan product within the Lazada Philippines Seller Center app, according to both parties. This strategic collaboration extends Fuse’s reach to micro, small, and medium enterprises (MSMEs) beyond the confines of the GCash app, while equipping the Lazada Philippines platform with a broader array of loan options for its sellers.

Micro, small, and medium enterprises (MSMEs) constitute a significant portion of Philippine businesses, according to government data.

Tony Isidro

Anthony Isidro

“As we continue to extend our presence in the MSME sector, the backbone of the Philippine economy, we are pleased to collaborate with Lazada Philippines to offer their extensive network of small business owners with cash loans that are easier, safer, and more convenient.

 

We look forward to supporting more digital entrepreneurs, which can contribute to job creation for millions of Filipinos,”

noted Anthony Isidro, President and CEO of Fuse Lending.

The initiative commenced earlier this year with a select group of sellers on Lazada Philippines, with plans to expand the user base over the coming months.

This aligns with the digital roadmap of the Bangko Sentral ng Pilipinas, which aims to digitise a significant portion of retail transaction volumes in the country, enhancing digital payments and financial inclusion.

Furthermore, this collaboration underscores the joint efforts of fintech and e-commerce entities to ensure effective access to a wide range of digital financial services, particularly for underserved sectors like online sellers and other MSMEs.

“We’re pleased to offer Lazada Seller Loans in collaboration with Fuse Lending, and we believe this offering will provide more opportunities for Filipino entrepreneurs to thrive in the digital retail space.

 

This partnership represents an important step in our shared mission: contributing towards Sustainable Development Goal 17, expanding financial access to Filipino MSMEs, and accelerating progress in the Philippines,”

remarked Benjamin Ng, Head of Seller Financing at Lazada.

 

Featured image credit: (From left) Sean Tan, Sales Financing Lead at Lazada Group; Joseph Lim, Head of Payments & Partnerships at Lazada Philippines; Benjamin Ng, Head of Seller Financing, Lazada Group; Anthony Isidro, President and CEO of Fuse Lending; Baby Aquino, Chief Product and Strategy Officer at Fuse Lending; and Kevin Yu, Head of GLoan Fuse Lending, Inc.