Filipino e-wallet GCash has partnered with Security Bank to offer select users access to the bank’s credit cards, with plans to include home and auto loans.
Users can apply for these financial products directly through the GCash app, with the option of Security Bank’s no-annual-fee credit card.
Since its launch, GCash ads promoting these loan products have reached a broad audience, contributing to the strong uptake of credit card approvals.
The partnership aims to make it easier for users to access financial products through the GCash Loans Marketplace.
Security Bank, with over 300 branches nationwide, will offer its loan products via GCash, providing more Filipinos with access to formal banking services.
So far, GCash’s lending arm, Fuse, has disbursed over PHP 155 billion in loans to more than 5 million Filipinos.
“Our partnership with Security Bank helps us strengthen our ongoing efforts to provide innovative and accessible financial services to millions of Filipinos.
By making Security Bank’s reputable loan products available on the GCash app through our Loans Marketplace, we are able to provide many of our users with their first access to a bank loan, and a seamless and inclusive experience that meets their needs.”
said Tony Isidro, President and CEO of Fuse Lending.
“We are excited to partner with GCash as we continue to provide valuable services to our customers.
This partnership allows us to leverage our banking expertise to reach more Filipinos, offering them customised financial solutions through a platform that is both accessible and innovative for everyone,”
said Rahul Rasal, EVP and Retail Banking Segment Head, Security Bank.
