GCash's Lending Arm, Fuse, Embarks on a Strategic Partnership with Lazada Philippines to Introduce Cash Loans for Sellers
The top-notch finance app GCash and its lending branch, Fuse Lending, Inc., have joined forces with a new e-commerce platform called Lazada Philippines to help Filipinos start their own businesses. The goal of this partnership is to help sellers on the site grow their online businesses by giving them cash loans.
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| GCash's Lending Arm, Fuse, Embarks on a Strategic Partnership with Lazada to Introduce Cash Loans for Sellers |
Anthony Isidro, President and CEO of Fuse Lending, Baby Aquino, Fuse's Chief Strategy and Product Officer, Kevin Yu, GLoan Product Head, and Benjamin Ng, Lazada's Head of Seller Financing, were among the well-known people who attended the ceremony at Bonifacio Global City to officially start this partnership.
For the first time ever, Fuse Lending is the first partner to add a seller loan product to the Lazada Philippines Seller Center app without any problems. This integration will let Fuse reach micro, small, and medium-sized businesses (MSMEs) outside of the GCash platform. It will also let Lazada give loans to its buyers.
Fuse Lending's President and CEO, Anthony Isidro, was excited to say, "We are thrilled to work with Lazada Philippines as we expand our reach in the MSME sector, which is the backbone of the Philippine economy." Our goal is to make it easier for their large network of small business owners to get cash loans that are also safer and more handy.
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A pilot program was started earlier this year with a small group of sellers on both the GCash and Lazada Philippines sites. The partners now think that the number of people using the eCommerce site will grow over the next few months.
The Bangko Sentral ng Pilipinas' digital strategy is in line with this relationship. The goal of the digital strategy is to improve digital payments and financial inclusion. The goal is for 50% of all money exchanged in stores across the country to happen online. The union also shows how leaders in both fintech and e-commerce are working together to make sure that everyone, especially those who haven't had access to these services before, can use a wide range of digital financial services.
Benjamin Ng, who is in charge of seller financing at Lazada, shared his optimism: "We're excited to launch Lazada Seller Loans with Fuse Lending." There will be more chances for Filipino business owners to make money in the digital retail field, we think. We both want to help reach Sustainable Development Goal 17 by making it easier for Filipino small and medium-sized businesses to get loans and speeding up progress in the Philippines. This partnership is a key step in that direction.
You can find out more by going to www.gcash.com.
