GCash, RCBC partner to make loans more accessible

Globe-backed financial technology giant GCash is partnering with Yuchengco-led Rizal Commercial Banking Corporation (RCBC) to offer a 24/7 accessible loan product to Filipinos.

In a news release on Tuesday, GCash said that RCBC will introduce “Pasado Loans,” a 24/7 loan product that requires zero collateral, which can be tapped through the mobile wallet app.

GCash said loan applicants may borrow between P30,000 and P500,000.

The mobile wallet said applicants should submit their credentials through the Pasado Loan portal.

The fintech said RCBC’s credit evaluation engine will assess loan applications within seconds, after which an applicant will receive the disbursed loan amount through their RCBC Diskartech account upon approval.

“GCash is committed to transforming the financial landscape in the Philippines. By partnering with RCBC, we’re not just making loans accessible; we’re opening doors to opportunities for countless Filipinos. Together, we’re shaping a more inclusive future for all,” said Tony Isidro, CEO of Fuse Lending, the lending arm of GCash.

RCBC executive vice president and chief innovations and inclusion officer Lito Villanueva said: “Our partnership with GCash is a great example of bayanihan in the fintech sector.”

“By fusing our powers, we reach a larger group of Filipinos and serve them by helping them reach their goals and materialize their aspirations. Our partnership with GCash will accelerate that positive change by opening financial options to more Filipinos,” added Villanueva. — VBL, GMA Integrated News