PR97427

MANILA, Philippines, Aug. 15, 2022 /PRNewswire=KYODO JBN/ --

- GCash CEO says collaboration, not competition, key to exponential growth and

financial inclusion

As digital payments rapidly become a staple for many Filipinos, GCash, the

leading mobile wallet in the Philippines and the country's first ever double

unicorn has achieved yet another milestone as it grows its number of registered

users to 66 million as of June 2022. This was one of the key highlights shared

by the GCash president and CEO Martha Sazon during the recent Mobile 360 Asia

Pacific FinTech Summit held at JW Marriott South Beach in Singapore.

During the summit, Martha shared how collaborations with banks and other

fintech providers have helped GCash maintain a strong growth momentum amid the

pandemic which has enabled it to add six million users from the first quarter

to 66 million at the end of the second quarter of 2022.

"We're not a digital bank. We are an e-wallet. But what's good about that is

we're able to partner with any bank and any financial institution. This is a

conscious thought that we make because we know that financial inclusion is a

complex, difficult journey. So, we choose to collaborate rather than compete,"

Sazon said.

With this in mind, GCash has partnered with the most innovative and the biggest

financial institutions – such as BPI, ATRAM and CIMB, as well as various

government agencies, insurance, and fintech companies – to address the

population's need for more accessible financial services. GCash also teamed up

with Ant Group Financial, allowing the app to access global and best-in-class

platforms and capabilities and enabling GCash to scale up rapidly and ensure

user security.

Driven by its goal to deliver fast, safe, and convenient digital products and

services to the masses, most especially the millions of unbanked Filipinos at

the height of the pandemic, GCash became a key partner of the Philippine

government for its Social Amelioration Program (SAP) which was distributed via

the GCash app with over P16 billion in aid received by more than 2 million

beneficiaries. Moreover, GCash also empowers micro, small, and medium

enterprises (MSMEs) by partnering with different insurance providers to offer

convenient digital business solutions such as business insurance products. More

similar services will soon be launched on the GCash app.

As financial inclusion is the core of its business, Sazon also said that GCash

continuously democratizes financial services by adding strategic collaborators

to help innovate its game-changing products such as Send Money, Pay Bills,

Cash-in, Cash-out, GInsure, GLoan, GInvest, GGives, GCredit. This has enabled

them to deliver solutions that meet every Filipino's needs and demands.

"The people that we need to include are the masses. We are talking about

riders, tricycle (three-wheeled mode of public transportation) drivers,

sari-sari stores (community-based stores), and even market store vendors. This

is very important because these are the very people who comprise our MSME

industry," Sazon shared.

For more information, visit www.gcash.com.ph　

About GCash

GCash (G-Xchange, Inc.) is the #1 Financial App in the Philippines. Through the

GCash App, customers can easily purchase prepaid airtime; pay bills at over

1.3k partner billers; send and receive money anywhere in the Philippines, even

to other bank accounts; purchase from over 4.5M partner merchants and social

sellers; cash-in and cash-out at over 170k partner agents; and get access to

savings, credit, insurance and invest money all at the convenience of their

smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech

Innovations, Inc.).

GCash was recognized by The Asian Banker (TAB) and by the IDC in 2021 for its

outstanding digital financial inclusion programs which are now making a

positive impact on 66 million Filipinos in the country today.

source:GCash

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=427421

   Caption: GCash President & CEO Martha Sazon shares GCash's milestone of reaching 66

Million registered users at the recent GSMA Mobile 360 Asia Pacific Fintech

Summit in Singapore