Financial services

GCash to further develop financial services

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MYNT (Globe Fintech Innovations, Inc.) announced on Monday that it will introduce four more insurance packages in the third quarter.

GCash, which is operated by Mynt, aims to expand its financial services, especially for young professionals and micro, small and medium-sized enterprises (MSMEs), GCash officials said at a press briefing.

Education, variable universal life (VUL), travel and business insurance products, which are expected to launch in the third quarter, the company said.

“Most Filipinos realized they needed insurance when it was too late. Now, a recent study by the Philippine Life Insurance Association in April 2022 showed that more and more Filipinos are open to insurance. In fact, 67% of Filipinos surveyed are open to purchasing health insurance products due to the pandemic,” said GCash Vice President and Head of New Business Neil Trinidad.

“Very soon we will have GInsure for business. This is our way of enabling and empowering MSMEs right now Ifultimately benefit from insurance for their employees at a fraction of the cost with all the different plans and policies from our different partners,” he added.

GCash’s financial services include savings, loans, and even investing.

“GSave, a digital savings account, offers a higher savings rate of up to 2.6% per annum than traditional banks, and allows users to access their money 24/7. 7, anytime, anywhere,” the company said.

Currently, its GInsure offers insurance products for personal accident, medical services, auto insurance, loss of income, online shopping, bills, cars, and pets.

It also enables individuals and MSMEs to have access to credit.

“GGives is an easy pay-later option that allows users to buy gadgets, appliances, furniture, and even plane tickets and more worth up to P50,000 from 85,000 stores. partners nationwide and pay later for up to 24 offers over 12 months,” the company said.

It also has GLoan, which offers quick cash loans of up to P50,000 repayable over 12 months. The company said this product is suitable for digital entrepreneurs with growing online businesses. — Arjay L. Balinbin