Easy-to-use GCash payment solutions help Filipino MSMEs grow their businesses

Micro, small, and medium enterprises (MSMEs) in the Philippines are experiencing growth through the aid of digital tools, as the economy evolves towards a cash-lite society. G-Xchange Inc. President and CEO Ren-ren Reyes emphasized that digital tools must not only facilitate digital payments but also streamline business operations at the ANT Mo:Ments summit in Kuala Lumpur, Malaysia.

GCash for Business provides a suite of next-generation payment systems designed to assist Filipino merchants in accelerating their operations, catering to a larger customer base, and enhancing efficiency. Despite 77% of MSMEs expressing interest in digital tools, only 20% have fully embraced them due to financial constraints and skill gaps. GCash for Business aims to make digitalization more attainable for these businesses.

The fintech leader offers convenient payment solutions such as tap-to-pay and card transactions, simplifying the payment process for merchants. Additionally, merchants can leverage tools to automate operations, promote their businesses through offers, and manage their operations more effectively. This enables businesses to concentrate on growth rather than grappling with manual procedures.

Reyes highlighted how digital transactions can aid merchants in establishing financial credibility. Currently, 55% of MSMEs have never applied for a formal loan, typically due to concerns over debt, high interest rates, and convoluted application processes. Many small business owners still rely on informal borrowing or personal savings, which restricts their capacity to expand operations, manage cash flow, or recover from unforeseen expenses.

GCash for Business empowers merchants to build a digital record that may facilitate access to financing options that are quicker, fairer, and more inclusive.

The lending arm of GCash, Fuse Financing Inc., has extended P406 billion worth of loans to 11.1 million unique borrowers to date, with one-third of borrowers being small business owners. By addressing barriers to digital adoption, GCash is converting routine transactions into avenues for growth, inclusion, and enduring financial advancement for merchants nationwide.

To begin, merchants can register through the GCash for Business Portal at business.gcash.com, gaining access to affordable payment solutions and an intuitive all-in-one dashboard.