As part of its commitment to promoting financial inclusion and digital adoption for all Filipinos, GCash has joined forces with Mayani Philippines through its lending arm, Fuse, to empower and improve the financial capabilities of the agricultural community by providing a safe, accessible, and secure source of credit to farmers and fisherfolks across the nation.
Through this strategic partnership, GCash will initially extend its suite of products and services initially to farmers in Lian, Batangas, ultimately allowing Filipino farmers to take advantage of agritech and fintech, and help them improve their livelihoods while having easy access to innovative and convenient financial services and tools.
Signing the agreement were Fuse Lending President and CEO Tony Isidro, Vice-President for Product and Strategy Baby Aquino, and Mayani Founder and Executive Chair Jeff Barreiro, together with Co-founder and CEO JT Solis.
“Agriculture has always been one of the most important industries of our nation. As we leverage modern technology’s financial transformation, rapid growth and sustainability are expected. We are honored to have Mayani onboard as one of our key partners as we continue introducing innovations that will help connect farmers with finance and enhance the power of financial inclusion in the Philippines,” said Mr. Isidro.
Since 2016, Fuse Lending has disbursed over P100 billion in loans and has supported millions of Filipinos in achieving their financial aspirations and goals. By providing non-collateralized lending products such as GCredit, GGives, and GLoan through the GCash app, Fuse seeks to broaden access to financial services, especially for the unbanked sector, including the agri-fishery community, which has largely been traditional for decades.
For its part, Mayani, a fast-growing farm-to-table platform with over 144,000 smallholder farmers and fisherfolks across seven regions of the Philippines, 30,000 business-to-consumer customers, and a solid business-to-business portfolio, helps provide communities with sustainable livelihoods through its end-to-end digital agri-fisheries value chain innovation and scale-driven market partnerships. By integrating its digital ecosystem with GCash and Fuse, it is able to provide more Filipino farmers and fishermen access to borrowing means that truly prioritize their needs.
“We’ve always held the belief that financial rails for the agri-fishery sector are best built on top of existing market rails for our smallholder farmers and fisherfolks. This partnership with GCash and Fuse accelerates our agri-fintech aspiration of cultivating financial inclusion for rural Philippines. By situating any loan transaction within a trade and supply chain context, I think we are able to finally crack the code towards making our farmers and fisherfolks bankable, credit-worthy, and financially-empowered,” said Mr. Solis.
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