How to activate and use GCash GGives 'buy now, pay later' feature

Mobile wallet service GCash has released its new "buy now, pay later" in-app feature called GGives.

This new feature allows eligible users to pay for items up to PHP 30,000 under 24 "gives" or installments twice-monthly over 12 months.

According to GCash, here are the "fast facts" you need to know about GGives:

Availment (How often you can avail of the loan)

One transaction, one merchant at a time

Loan Amount (Purchase Amount - Down Payment)

PHP 1,000 to PHP 30,000

Check your minimum spend requirement by regularly checking GGives in the GCash app before your purchase.

Installment Duration (Amount of time you'll be borrowing with your GGives loan, also known as payment terms.)

3, 6, or 12 months

Interest Rate (Rate assigned to you based on your GScore)

0% - 4.99% per month, depending on your eligibility and chosen installment duration

Tip: The shorter the installment duration you choose, the lower the interest rate charged to your GGives account.

Downpayment (Portion of your purchase amount that you pay at the point of purchase)

0% of your purchase for a limited time.

Processing Fee (One-time fee deducted from your GCash wallet upon purchase using GGives)

0% of the loan amount for a limited time.

Penalty Fees (Fees charged when you don't pay your amount due on or before your due date)

PHP 100 Fixed fee + .15% daily of the outstanding principal balance

Tip: Make sure to punctually pay for your GGives dues to avoid penalty fees.

How to become eligible for GGives?

Below are the requirements for you to be eligible to use GCash GGives:

• You must be 21 to 65 years old
• You must be a Filipino national
• Fully verified GCash account (You have a good credit record and did not commit any fraudulent transactions)
• Your eligibility is subject to credit risk rules and policies
• You maintain a good GScore (GScore requirements for GGives may differ per GCash customer)

How to register for GCash GGives?

Eligible customers can register for GGives via the GCash app. Check out the steps below.

Step 1: Launch your GCash app.

Step 2: Tap on the "View all GCash Services" button on the GCash Dashboard.

Step 3: Select GGives under Financial Services.

Step 4: Review your Personal Information (already pre-filled), then tap next.

Step 5: Complete your other information and tap on the Next button.

Step 6: Review the details of your GGives application, check the boxes to agree to Fuse Lending policies, and tap Activate my GGives.

Step 7: A confirmation screen will pop up showing that your GGives Application was successful.

Also read:

How to Use GCash: Cash In, Buy Load, Pay Bills, more

GCash Rates: Transaction Fees, Interest, Charges

Check out the video below on how to activate and use GGives:

More information about GGives

Eligible users can access GGives at over 27,000 stores via Scan QR, with additional locations and options soon.

Shoppers can use the GCash app to make purchases at The SM Store, Robinsons Department Store, Robinsons Supermarket, Ministop, S&R Supermarket, Nike, Mercury Drug, Southstar Drug, Power Mac Center, MemoXpress, and Datablitz, among other locations.

Besides GGives, GCash also has a GLoan feature. It is a financial service offered by GCash that enables eligible users to borrow funds up to PHP 25,000 for a variety of purposes. The funds are received in the form of actual cash in their GCash wallet, and approved users have a repayment option from 9 to 12 months.

Further, GCash offers the following services: GSave, an online savings bank; GInvest, an easy investment feature; GInsure, medical emergency insurance; and GLife, an e-commerce feature.