- 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: https://iop.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