GHL extends loan facility to the Philippines

As per the official statement, the company plans on expanding its micro-lending initiative by launching the GHL SME loan in the Philippines. The goal of the microfinancing facility is to provide funds to small and medium enterprises (SMEs) in a bid to support their cash flow and business growth.

The new loan has been registered and approved by the Philippines’ Securities and Exchange Commission (SEC).

GHL Systems Berhad is offering its SME customers the option of making loan payments through their existing settlement arrangement with the payment service company. The company plans to initially roll out the loan to its existing merchant base in the Philippines and then offer it nationwide. Following its launch in Malaysia in 2022, the GHL SME loan facility has reportedly serviced 700 merchants and disbursed over USD 8.7 million.

When discussing the reasoning behind the introduction of this financial service in the Philippines, a representative from GHL Systems Berhad expressed that SMEs play a crucial role in sustaining the country’s economy – and acknowledged that accessing reliable credit posed a critical challenge for many small businesses due to the strict requirements and lengthy application process of banks. They further stated that the GHL SME loan aimed to tackle these challenges and offer businesses the necessary financial capital to compete within the business environment of the Philippines.

When it comes to the application process, SMEs have to present the authorised signatory’s valid government-issued ID. No initial payment is necessary, thus guaranteeing easy access to the funding businesses require. More details about the application process can be found on the company’s official website.

GHL Systems Berhad’s strategy and previous developments

GHL Systems Berhad is a payment solution provider across Malaysia, the Philippines, Thailand, Indonesia, Singapore, and Australia, with a footprint of over 434,400 payment touchpoints across the region. GHL is also a payment acquirer in the region for over 100 global and regional payment schemes and channels. The company reportedly processes approximately USD 332,6 million in payment transactions each month.

Earlier in 2023, GHL announced that it partnered with fintech enabler Arab Financial Services (AFS) in a bid to process its merchant transactions in Thailand.

Also in 2023, it was announced that GHL expanded the integration of Alipay+ to over 2,600 local businesses in Thailand, aiming to support cross-border digital payments from Asian mobile wallets.