Mynt and FUSE introduced last Friday (June 29) their latest GCash innovation which they declared as a way for them to move the country closer to nationwide financial inclusion by providing finance for ALL with special focus to the underserved and unbanked population in the Philippines.

Mynt, the fintech startup owned by Globe Telecom, Ant Financial, and the Ayala Corporation is now rolling out GCredit lending services and the GScore credit scoring system through its lending arm FUSE and available via the GCash app.

“We are committed to enable the aspirations of the financially-underserved. With FUSE, we aim to create and sustain opportunities for growth and stability for individuals and businesses alike through responsible and fintech-enabled lending,” said Anthony Thomas, President and Chief Executive Officer of Mynt.

What is GScore?

GScore is a trust score based on a customer’s relationship with GCash. In is an interplay between wallet balance, spending , and where you spend.

GScore, Thomas said, addresses the difficulty of most Filipinos to access credit due to absence of formal documents that prove financial capacity. Instead, Gscore provides a “trust score” that people can earn without too much barrier just by engaging in regular GCash transactions such as buying load, paying bills, purchasing goods and services, among other things.

GScore basically assesses the financial capacity of a GCash user to pay back credit based on their GCash usage.

In a nutshell:

  • Use your GCash app
  • Check for your GScore
  • The more you use GCash, the higher GScore you get – buy loads, scan to pay or pay bills.

What is GCredit?

GCredit is a revolving credit line attached to your GCash account with funds you can then use to buy groceries, medicine, or even school supplies in partner merchants via GCash Scan To Pay. The amount you can avail is determined by your GScore rating.

FUSE believes that with data-driven lending, they can create a sustainable and scalable credit product in the country.

At present, Filipinos have no other recourse but to turn to informal or unlicensed money lenders or “loan sharks” since they can extend loans without much collateral or documentary requirements but with hefty interest rate which often led the borrower to a debt trap.

This situation could be avoided through GCredit. With GCredit, once a customer pays their credit balance, it replenishes instantly. This provides customers peace of mind so they can have access to funds whenever they have emergencies or life milestones. As added benefit, those who continue to use their GCredit properly  will be given higher GCredit limits.

How to Activate Your GCredit:

  • Tap “Manage Credit” in your GCash app
  • Complete Your Profile
  • Make sure your email address is correct and verified
  • Wait for your activation e-mail and scan away

How to Use Your GCredit:

  • Tap “Pay QR”
  • Tap the QR Icon
  • Select GCredit and enter the amount to be paid
  • Tap Confirm

GCredit is currently at its beta stage and will be available commercially within the year.

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Everything You Need to Know About GCredit and GScore
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5 thoughts on “Everything You Need to Know About GCredit and GScore

  • October 2, 2018 at 10:34 am
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    What could be the reason of a GScore that continuely drops week after week even though I pay my bills through G Cash, buy dozens of loads through Gcash and have even used the scan to pay QR option. But instead of my Gscore rising, it drops..

    Reply
    • October 8, 2018 at 1:56 pm
      Permalink

      Same here. I’m using Gcash now to pay my bills and online orders but my gscore is gradually dropping. I’m wondering why it’s happening when I was only using Gcash before for loading and now I’m using it on various transaction and yet my score is not rising as well. Why?

      Reply
  • October 22, 2018 at 6:20 pm
    Permalink

    Encountering the same issue 🙁

    Reply
  • October 22, 2018 at 7:05 pm
    Permalink

    I need explanation why my gscore keeps on decreasing when i always use gcash for payment, cash in, load and all i paid my gcredit in advance too. But surprisingly i can’t get any clear explantion why my gscore is decreasing. My goal is to make it higher so that there will be an increase on my gcredit. But no matter how i use it is pointless they slice 5 points each week. Disappointed here.

    Reply
  • November 6, 2018 at 9:01 pm
    Permalink

    I also have the same issue of decreasing GScore and I asked GCashcare about it . Below is their response:

    “The score is not manually encoded by individuals, rather we have a scoring algorithm that computes for the customer’s score based on transactional behavior. Rest assured, that your score will improve if you’ll continue to use GCash.”

    Reply

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