These Terms and Conditions for GLoan for Business (“Terms”) constitute a binding agreement between you, Fuse Financing Inc. (“Fuse”), and G-Xchange, Inc. (“GXI”) in connection with the GLoan for Business. (“G4B”) loan you have availed through the G4B Application Form. The term “You” refers to you; your business in your sole name (whether or not the same is part of the assets/ property with your spouse), with co-owner(s), with one or more partners; or a corporation and in either case applicable, you are the authorized and permitted representative under this contract. The term “Loan”, as used in these Terms, refers to the G4B loan amount granted by Fuse to you. By availing of a Loan, you confirm that you have fully read, understood, accepted, and agree to be bound by these Terms and the terms of the applicable Disclosure Statement (collectively and for brevity, the “Agreement”) as defined below.
Fuse is a duly licensed financing company supervised by the Securities and Exchange Commission. It may, in its sole discretion, grant, deny, or discontinue the Loan in accordance with the Agreement.
GXI is duly licensed by the Bangko Sentral ng Pilipinas (BSP) as a registered Remittance and Transfer Company (RTC) and holds a Type C E-Money Issuer (EMI) registration. It handles electronic money (e-money) issuance and other mobile solutions under the GCash brand and App. Loan repayments may be collected by GXI and remitted to Fuse, as provided in this Agreement.
Please read the G4B Privacy Notice before using any or a portion of the G4B feature and/or availing yourself of a Loan. The Privacy Notice describes the purpose and manner of collection, processing, and sharing of your personal data when using the G4B feature. By choosing to proceed with the Loan application, you agree to these Terms. You also acknowledge that you have read and understood the Privacy Notice. If you do not understand or do not wish to be bound by these Terms, you are hereby advised not to access or use any of the G4B features.
- APPLICATION AND VERIFICATION PROCESS
- You undertake to fully accomplish and submit the G4B application form. You certify that the information you have provided in the G4B application form is true and correct as of the date of application.
- You agree that in the event of any misinformation, misrepresentation, or failure on your part to disclose information required in the G4B application may cause Fuse to (a) reject your G4B application; (b) cancel its approval if already made; or (c) demand full payment of the Loan if already disbursed, including the applicable interests and charges. Fuse shall not refund any processing fee you paid relating to the Loan application.
- You authorize Fuse to verify the accuracy and completeness of the information you have provided to Fuse. This includes verification with the following:
- Fuse Group, which includes but not limited to (ii) Fuse; (ii) its parent company, affiliates and subsidiaries, including but not limited to Globe Fintech Innovations, Inc., GXI, and Globe Telecom, Inc.; (iii) Fuse’s business partners, service providers, and other third-party partners contracted by it to conduct its business operations (such as, but not limited to, credit scoring partners, third party financing partners, and partner-collection agencies, etc.); and (iv) their respective, officers, employees, agents, and representatives; and
- Authorized Entities, which include (i) the Bureau of Internal Revenue; (ii) any credit information bureau, banking, or credit industry association, credit information service provider, and credit/loan provider, including the Credit Information Corporation (“CIC”), Bankers Association of the Philippines, TransUnion Information Solutions Philippines, and Trusting Social Philippines, Inc.; and (iii) other lenders as authorized by the CIC, and credit reporting agencies duly accredited by the CIC.
- For applications deemed eligible under ADB financing, by submitting the accomplished application form, you hereby represent, warrant and covenant that: 1.)no loan proceeds shall be used to finance, support or engage in, whether directly or indirectly, any business activity as specified in the Asian Development Bank’s (ADB) “Prohibited Investment Activities List” or as such list that may be published or amended by the ADB from time to time and such other activity considered as money laundering, corruption, bribery, etc.; and 2.) comply with and establish measures to prevent use of loan proceeds in violation of applicable labor laws, standards, anti-child labor laws, etc. You further agree that loan proceeds shall not be used in any way that could harm the environment, society, or the integrity of the financial system, in compliance with applicable laws, regulations, and the safeguards outlined in this Agreement. Engagement in any of the aforementioned prohibited investment activities shall subject your application to immediate denial or default under the applicable terms and conditions.
- For purposes of Republic Act No. 9510 or the Credit Information System Act and its implementing rules and regulations, the submission of your G4B application serves as notice and authorization to Fuse that your credit data, as defined under said law and regulations, shall be disclosed to the extent reasonably necessary for Fuse Group to carry out its operations and discharge its functions and responsibilities for as long as you have an outstanding Loan and obligations with Fuse, or as necessary and required under existing laws, rules, and regulations.
- You consent and agree that Fuse Group may send you short messaging services (SMS), mobile, in-app messages, web-portal messages, and/or email alerts/messages to confirm your G4B application, verify other information in connection with such application, or for other purposes concerning it. Fuse has the right and the sole discretion to (a) reject your G4B application; (b) cancel any approval if already made; or (c) demand full payment of the Loan if already disbursed, should you fail to reply to these messages and/or verify the information that requires your confirmation within the prescribed period specified in the message. Fuse shall not refund any processing fee you paid for the Loan application.
- Fuse reserves the right to require periodic updates of your Know-Your-Merchant (“KYM”) information. You agree to provide the necessary information, when requested.
- Fuse reserves the right to reject or approve your G4B application in its sole discretion based on your repayment capacity as determined by Fuse and the result of Fuse’s verification process, credit investigation, and/or credit scoring.
- You hereby release and hold Fuse Group free and harmless and waive any claims, demands, or liabilities of whatever kind or nature in connection with, or arising from, (a) the application and verification process; (b) disclosure of your information in connection with such application; (c) processing of your personal data (as defined herein); (d) the Agreement; and (e) from any acts directly or indirectly related to the preceding, unless such claims, demands, or liabilities are due to gross negligence or willful misconduct solely attributable to Fuse Group.
- LOAN, FEES, AND CHARGES
- You may be granted a business Loan up to such maximum amount as may be approved and determined solely by Fuse, subject to ongoing credit review. You may draw multiple Loans provided that the aggregate outstanding principal balance does not exceed the approved credit line. Fuse reserves the right to review, reduce, or cancel the credit line or loan disbursed in excess of the credit line, impose additional conditions, or disallow further availments based on your creditworthiness, repayment record, or compliance with this Agreement.
- Only your duly authorized representatives, as evidenced by proper corporate documents (including but not limited to a notarized Secretary’s Certificate), may apply for or transact on any loan under G4B. Any application or transaction made by a non-authorized representative shall be deemed null and void and shall not bind Fuse or GXI. You remain fully liable for all loans availed under your account and for all obligations. Non-authorized persons may, however, make payments or repayments on your behalf, provided they are made strictly through the official channels and payment facilities designated by GXI and Fuse. Fuse and GXI shall bear no liability for any loss, damage, or dispute arising from such payments.
- You shall promptly notify Fuse and GXI in writing of any change (resignation, termination, or cessation of authority) of your duly authorized representative(s). In such cases, you must designate and submit to Fuse and GXI, via proper corporate documents (including a notarized Secretary’s Certificate), the details of the replacement authorized representative. Fuse and GXI reserve the right to suspend or refuse the processing of Loan applications, availments, and related transactions until the updated authorization documents are received, verified, and acknowledged. You remain fully liable for all transactions and obligations during any period of non-compliance.
- Partnerships and corporations are required to designate a secondary authorized representative to ensure a clear point of contact for emergencies or in the event of a change in the primary representative. The details of the nominated secondary authorized representative must be sent to fuseoperations@mynt.xyz.
- For each Loan application, you will choose the Loan and Loan duration from the options that Fuse will provide you, subject to adjustments based on the result of Fuse’s verification process.
- You agree to be bound by and undertake to comply with the terms of the disclosure statement, which contains, among others, the following information (“Disclosure Statement”):
- your personal data and business information;
- Loan term;
- Loan amount;
- Loan purpose;
- Charges and deductions (e.g. processing fee and applicable taxes);
- Loan proceeds [Loan amount less charges and deductions];
- Schedule of payment;
- Interest rates;
- Collateral, if any;
- Late payment fee
- You agree to pay the sum payable under the Disclosure Statement and other fees and charges as may be imposed or mandated by Authorized Entities, government agencies, and/or this Agreement relating to the Loan.
- You further agree that Fuse may adjust the details in the Disclosure Statement should changes be mandated by applicable laws, rules, and regulations, or at Fuse’s sole discretion, based on its policies. You agree that any adjustment shall be binding upon your receipt of a written notice from Fuse specifying these adjustments. In case you disagree with the adjustments, you have the option to fully repay the Loan, including applicable fees, interests, late payment fees, and other charges, within thirty (30) calendar days from receipt of adjustment notice from Fuse.
- Fuse reserves the right to apply varying interest rates and fees to users, determined by their eligibility and other relevant screening, which is assessed using both internal and external data sources.
- LOAN RELEASE
- The Loan proceeds shall be released directly to your GCash for Business (“G4B”) merchant account wallet.
- You hereby acknowledge that the Loan's proceeds or any part(s) thereof shall be deemed to have been received on the date the Loan proceeds are credited to your G4B merchant account. If Fuse receives no complaint from you within three (3) business days from when the Loan proceeds were credited to your G4B merchant account or if you use any portion of the disbursed Loan, then you are deemed to have received the full and correct Loan amount and have fully acknowledged and accepted all the details specified in the Disclosure Statement.
- Fuse reserves the right to cancel and recall the approved Loan if the Loan cannot be fully disbursed to your G4B merchant account for whatever reason. If a portion of the Loan has been successfully disbursed to your G4B merchant account, you shall pay the amount due, interest, and other charges applicable to the disbursed Loan under this Agreement.
- In addition to Section 4 ,the Loan proceeds shall be used solely for Borrower's business. The Borrower is expressly prohibited from using any Loan proceeds for cash-out purposes or any other purposes not expressly permitted under this Agreement. If Fuse determines, in its sole discretion, that the Borrower has used or attempted to use any Loan proceeds contrary to this Agreement, it shall constitute an immediate event of default under this Agreement. In such a case, all outstanding Loan amounts, together with all accrued and unpaid interest and other charges or fees, shall become immediately due and payable without need of demand. Borrower acknowledges and agrees that Fuse's determination of whether Loan proceeds have been used for prohibited purposes shall be final and binding.
- If the Borrower is identified and tagged by Fuse as presenting a “Cash-Out Risk”, the Borrower shall automatically be in default. For this provision, a “Cash-Out Risk” means misuse or diversion of loan proceeds, including but not limited to: (i) excessive or irregular cash withdrawals inconsistent with the Borrower’s business operations; (ii) transactions suggesting diversion of funds to non-business purposes; (iii) structuring or repeated small cash-outs designed to avoid monitoring thresholds; or (iv) any other activity reasonably determined by Fuse to present heightened credit, fraud, or money-laundering risk.
- REPAYMENT
- Fuse will provide you with a billing statement showing the billing period, principal amount, interest, fees, charges, previous balance, and the total amount due. You must pay the Monthly Amount Due (“MAD”) set out in the Disclosure Statement on or before its due date.
- You shall repay the Loan in accordance with the schedule in the Disclosure Statement through: (a) voluntary payment via the G4B Portal, which may include automatic smaller, recurring payments; or (b) automatic deduction from your G4B Merchant Wallet if payment has not been made by the due date. You may repay the Loan in full or in part without penalty as long as payment has been made before the due date.
- You will receive payment due reminder through G4B channels at least seven (7) days before the due date.
- If you fail to pay on time, GXI will automatically deduct the MAD from your G4B Merchant Wallet. For this purpose, your Merchant Wallet Agreement with GXI and related settlement procedure are deemed amended accordingly.
- If deduction from your Merchant Wallet does not cover the MAD, you shall pay the outstanding balance through our partner banks or over-the-counter payment channels. Until fully settled, late payment fees and other penalties may apply.
- If you default in paying the Loan, Fuse may automatically deduct or set off any overdue Loan amount (including interest, fees, and charges) from your G4B Merchant Wallet at any time funds become available, until the Loan is fully repaid, even after maturity date.
- You agree to pay a late payment fee on any overdue amount at the rate specified in the Disclosure Statement (“Late Payment Fees”). Late payment fee shall be added on the unpaid amount from due date until fully paid, and may be subject to automatic deduction from your G4B Merchant Wallet.
- After deductions for the Loan Repayment Rate, and any applicable interest, fees, and charges, any remaining balance in your G4B Merchant Wallet shall be settled via GCash, BPI, Metrobank or other bank(s) that Fuse may officially designate and communicate in the future.
- If the total deductions from your G4B Merchant Wallet exceed your Loan obligations (“Excess Payment”), Fuse shall reverse the Excess Payment and credit it back to your G4B Merchant Wallet.
- You will receive confirmation through G4B channels once your loan payment has been successfully processed.
- SETTLEMENT BETWEEN FUSE AND GXI.
You authorize GXI to collect repayments through your G4B Merchant Wallet and remit them to Fuse, which shall be deemed valid settlement of your obligations.
- DEFAULT
- You understand and agree that any of the following will be considered an event of Default:
- Failure to pay any amount due under the Disclosure Statement on the due date;
- Failure to meet obligations under any other agreement involving a loan or extension of credit;
- No Merchant Wallet transactions recorded for thirty (30) consecutive calendar days;
- Termination of your Scan to Pay service with GXI;
- Any representation or warranty you made in this Loan Agreement or related documents turns out to be false, fictitious, misleading, incomplete, or incorrect in any material respect;
- You are tagged by Fuse as presenting a Cash-Out Risk under Section 3.5;
- Failure to comply with any material obligation under this Agreement;
- If you become insolvent, file for bankruptcy, have a receiver appointed for any part of your property, any of your property becomes subject to execution, garnishment, or attachment, you make an assignment for the benefit of creditors, or any proceeding, claim, or litigation is filed by or against you that affects your repayment capacity or financial stability;
- Any change in your ownership or control without the prior written consent of the Fuse;
- Any material adverse change in your business, assets, operations, or financial condition that, in the Fuse’s reasonable opinion, affects your ability to meet your obligations under this Agreement; or
- If you stop or threaten to stop operating your business or a substantial part of it.
- If a Default occurs, your access to the loan facility may be immediately suspended or terminated. The entire outstanding Loan, along with all applicable interest, fees, and charges, will automatically become due and payable, without need for further demand. This is without prejudice to any other rights or remedies available to Fuse and/or GXI under this Agreement or applicable laws.
- You also agree that Fuse may:
- Report the Default to the Fuse Group and its Authorized Entities, and your name may be included in their negative listings;
- Appoint or authorize a representative, agent, or attorney-in-fact (including third-party collection agencies) to take any action necessary to enforce Fuse’s rights under this Agreement. Fuse will notify you in advance if your G4B account is referred to a collection agency; and/or
- File legal action to collect the outstanding loan amount.
- COOLING-OFF PERIOD
- You have the right to opt out of your approved loan within three (3) business days from the date you receive the Loan (“Cooling-Off Period”).
- To do this, you must first repay the full principal loan amount to Fuse through any of the following payment channels:
- Cash
- BPI
- Metrobank
- other banks that Fuse may designate and communicate in the future
- You must also submit a ticket through the G4B Help Center within the Cooling-Off Period, indicating that the full loan amount has been paid to Fuse.
- To use this Cooling-Off Period without penalty, you must not have used or consumed the services covered by the Loan and must have repaid the full amount within three (3) business days of receiving the funds. Fuse may require additional documentation or verification. Please note that any cancellation made within the Cooling-Off Period will still be subject to a non-refundable processing fee.
- Once you have timely opted out and returned the loan proceeds, this Agreement will be considered null and void, and both parties will be released from any further obligations.
- If you do not exercise your right to opt out within the Cooling-Off Period, this Agreement will remain in full effect under its existing terms and conditions.
- RESPONSIBILITIES OF FUSE AND GXI
- Fuse is responsible for all lending-related aspects and the loan lifecycle. These responsibilities cover:
- Managing eligibility and underwriting;
- Handling disbursement, repayment, collections, auto-debit, and loan cancellation, as applicable; and
- Managing the imposition of all associated fees (e.g., processing and late fees) and matters related to ADA, as applicable.
- GXI is responsible for a range of merchant-related and support functions. These include:
- Updating account information;
- Providing login/login support and managing the enrollment of authorized employees;
- Overseeing merchant signup, Know-Your-Merchant (KYM) details and document submission, and Backoffice Portal support;
- Addressing Merchant MPA Issues and transaction history inquiries;
- Managing merchant support concerns; and
- Handling CRM, Marketing, Notifications, and matters concerning Data Privacy Clauses.
- DATA PRIVACY
- You understand, authorize, and consent to the Fuse Group and the Authorized Entities to collect, process, use, store, record, organize, and update your personal data necessary or incidental to your G4B application. Your personal data, which categories are enumerated below, will be collected and processed for compliance with Know-Your-Merchant (KYM) and anti-money laundering rules, credit investigation, credit scoring, debt collection, fraud investigation, product and systems development, data analytics, profiling, sales, and marketing activities and communications relating to Fuse Group’s products and/or services, and the continuous enhancement of customer experience:
- Your personal profile and the profile of the beneficial owner of the business, such as name, age, birthdate, birthplace, nationality, physical address, email address, telephone number, marital status, and sex;
- Business information, such as Business Name, Business Profile (number of employees, monthly transaction amount), Business Operations (Industry, Sub-Industry, Country of Operations, Business Channels), Business Documents (SEC Certificate of Registration, DTI Certificate of Registration), Business transaction data, physical address, email address, contact number, and registered merchant bank account details;
- Credit information;
- Credit score;
- Data usage records;
- Promo subscription and redemption records;
- Voice calling data records;
- SMS sending and receiving records;
- Customer relationship management records (e.g. correspondences and photos);
- Pre-paid load balance, top-up, and usage records;
- Value-added service records;
- Postpaid billing and collection records;
- GCash balance and transactional records;
- Borrower status;
- Monthly purchase data;
- Business transaction data;
- Payment and collection records; and
- GCash Scan-To-Pay transaction records and registered bank account details
- Other relevant information that may be deemed necessary.
- You further authorize and consent to Fuse Group sharing any and all of your personal data enumerated in the preceding paragraph to its contracted third-parties to perform any of the above purposes.
- You agree that Fuse Group may further disclose your personal data in compliance with the lawful orders of governmental agencies and existing laws, rules, and regulations, or to the extent that is necessary or incidental to Fuse’s business operations, plans, and its legal and contractual obligations.
- You authorize Fuse Group to process personal data of your emergency contact or any individual whose personal data you may share with the Fuse Group in connection with any product or services that you may subsequently avail after G4B application. You also warrant that the consent of such individuals for processing described in the Agreement is obtained.
- You authorize the Fuse Group to process and retain all information and documents, which may include personal data, that you submitted and use such information and documents for Fuse’s legitimate business purposes, such as (a) processing of any application or request, collection of repayments, and account closure in connection with any product and/or service offered by Fuse Group, (b) to improve Fuse Group’s existing products and services, and (c) advertising and promoting new products and services.
- You acknowledge that Fuse is committed to continuously improving its products and services and pursuing its business plans. To achieve these and to be able to perform its legal and contractual obligations, you agree and consent that Fuse may disclose and make available to the Fuse Group, on a confidential basis, any information that you have provided to Fuse and may hereafter provide, and other information Fuse may have, directly or indirectly, gathered and may subsequently gather through its verification and validation and/or through other methods and means.
- You understand that as a data subject, you have the right to suspend, withdraw, or request the blocking, removal, or destruction of your personal data within the processing systems of Fuse upon discovery and substantial proof that your personal data is no longer necessary for the purpose for which it was collected or provided. Fuse shall mark your account in its database as inactive or deactivated and retain the personal data only to comply with the retention requirements of applicable laws.
- Fuse may require you to update your personal data as needed. The personal data that you may update includes current and permanent addresses, mobile numbers, landline numbers, and email addresses. Fuse shall send all communication about the Loan to the most updated contact details that you provided to Fuse.
- To know more about how we collect, process, share, and protect your personal data when using the Fuse Services, please refer to the Privacy Notice of Fuse.
- LIMITS OF LIABILITY
- By accepting this Agreement, you agree that Fuse Group will not be responsible for any loss or damage that you or any third party will incur as a result of:
- any incomplete, inaccurate, or incorrect information that you have provided to Fuse;
- any fraud, bad faith, and misrepresentation on your part;
- the effect of any changes in relevant laws to the Loan or the Agreement;
- errors or malfunctions of the Fuse’s system or systems used or connected to Fuse by third parties; and
- your failure to implement the necessary security measures to guard against fraud or identity theft.
- You release Fuse and the Fuse Group from any and all claims related to this Agreement, including those for losses or expenses you incurred, unless such losses or expenses are directly attributable to Fuse’s gross negligence or willful misconduct. In no case shall Fuse’s or the Fuse Group’s total liability for direct damages resulting from its gross negligence or willful misconduct exceed the direct and actual amount. Fuse shall not be subject to any rights or claims from third parties and shall not be held liable for any damages caused by any act omission by a third party.
- INFORMATION SECURITY PROTECTION. FUSE and GXI are committed to safeguarding all personal and business entity data collected from individuals. This data is securely stored and handled in accordance with applicable data privacy laws and internal governance standards. The information collected will be used solely for the purpose of assessing loan eligibility and facilitating related financial services. By providing their data, individuals acknowledge and consent to its use for these specific purposes.
- MISCELLANEOUS
- If Fuse requires the services of counsel or a third-party service provider to enforce any of its rights and remedies under the Agreement, Fuse shall be entitled to recover from you attorneys’ fees, service provider’s fees, and to the extent permitted by law, fines, penalties, if any.
- he Agreement will be legally binding and will benefit you, Fuse, and your respective successors and assigns.
- Fuse shall have the unrestricted right to sell, transfer, or assign, at any time or from time to time, to the extent allowed by applicable laws, any or all of its rights or obligations under the Agreement, to any member of the Fuse Group, or any person or entity, without your prior consent. Such sale, transfer, or assignment shall bind you to fulfill or perform all your obligations under the Agreement to the transferee or assignor, including the payment of installments.
- You shall not assign or transfer any or all of your rights and obligations under the Agreement without Fuse’s prior written consent.
- You acknowledge and agree to maintain an active GCash account and Scan to Pay account for the duration of the loan term. Fuse reserves the right to transfer your loan account to another GCash account matching your KYM details should you enroll using another mobile number. Failure to maintain an active GCash account may be considered a breach of this agreement.
- If any provision of the Agreement is declared invalid, the other provisions shall remain valid and effective to the extent permitted by applicable laws.
- The laws of the Republic of the Philippines shall govern the Agreement.
- Any dispute arising from the Agreement shall be brought before the proper courts of Taguig City to the exclusion of all other courts except for small claims cases.
- The Agreement shall be effective from the date you submit your G4B application.
- You also authorize and consent to the Fuse Group to offer you products and services related to G4B or otherwise, through mail, email, SMS, telephone, or by any other means of communication, including social media.
- COMPLAINTS. Your concerns, complaints, inquiries, or requests may be raised through the following channels:
- GCash Customer Contact Centers
- E-mail: merchantsupport@gcash.com
- BSP Financial Consumer Protection Department
- Hotline: (02) 8708-7087
- Email: consumeraffairs@bsp.gov.ph
- Mailing Address: The Consumer Empowerment Group, Center for Learning and Inclusion Advocacy, Bangko Sentral ng Pilipinas, 5th Floor Multi-Storey Bldg., BSP Complex, Mabini Street Malate, Manila, Philippines
- Securities and Exchange Commission (SEC)
- Hotline: 8818-5990
- Email: cgfd_flcd@sec.gov.ph
- Mailing Address: Financing and Lending Companies Division, SEC Headquarters, 7907 Makati Avenue, Bel-Air, Makati City, Metro Manila, Philippines