Government agencies and GCash accelerate digital Philippines transformation, boosting transparency and public service delivery

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ARTA, BSP, and DICT team up with GCash for the Nation initiative to push for full government digitalization

In line with the government’s vision to eliminate red tape and corruption, the Anti-Red Tape Authority (ARTA), together with the Bangko Sentral ng Pilipinas (BSP), Department of Information and Communications Technology (DICT), and the country’s leading finance app GCash, convened to champion the complete digitalization of public services. The workshop, “GCash for the Nation: Building Capabilities Toward a Sustainable Digital Ecosystem,” was held at the ARTA premises in the UP-AyalaLand Technohub, Quezon City.

Bringing together leaders from economic, regulatory, and local government sectors, the session underscored a shared commitment that digital transformation is key to transparent, efficient, and citizen-centered governance.

“Digitalization is not just ease of doing business but an assurance against undesired allegations such as corruption. Every time we move a process online, we create a system that is accountable, traceable, and citizen-centered,” said ARTA director general Ernesto Perez.

Government and industry leaders agreed that moving processes online not only speeds up delivery but also ensures every transaction is properly documented and verifiable. However, one major challenge remains—shifting from paper-based audits to digital validation. BSP deputy governor Bernadette Romulo-Puyat highlighted this social shift, emphasizing that building trust in digital platforms is essential for the government’s transformation journey.

“Digital finance must build not only convenience but also trust. Through the years, we’ve already established financial inclusion, and we have now evolved into driving financial health,” she said.

As the country’s leading finance app and largest cashless ecosystem, GCash reaffirmed its commitment to supporting government agencies in adopting paperless and cashless systems. This collaboration aims to accelerate the shift toward e-payments and digital records, improving ease of doing business and minimizing bureaucratic bottlenecks.

“The digital economy reached ₱2.25 trillion in 2024, signaling our shift toward a fully digital future. (At DepDev), we are driving digitalization across planning, policy, and implementation while advancing key reforms to simplify business processes. We look forward to working with all our partners to bring Filipinos closer to a more comfortable and resilient way of life, “said DepDev assistant secretary Reynaldo Cancio.

 

GCash VP and head of public sector Cleo Celeste Santos highlights the role of technology in improving public services

Through the partnership, ARTA and GCash will roll out capacity-building initiatives for local and national government units, enabling them to develop digital systems aligned with the government’s transformation roadmap. These initiatives include digital payment integration, streamlined records management, and strengthened citizen access to essential services.

“Digital transformation requires both technology and mindset. We’re here to build the digital backbone that allows government agencies to deliver faster, cleaner, and more inclusive services to Filipinos,” said Cleo Celeste Santos, GCash vice president and head of public sector.

“GCash is proud to stand alongside ARTA and our government partners in advancing a truly digital nation—one that enables transparent, efficient, and inclusive services for all,” Santos added.

BSP deputy governor Bernadette Romulo-Puyat underscores that building trust in digital platforms is key to the government’s digital transformation journey

DepDev assistant secretary Reynaldo Cancio talks about digitalization and its impact on the Philippine economy

The workshop underscored ARTA’s “whole-of-government” approach to reforming public services—an effort that aligns seamlessly with GCash’s vision of “Finance for All.” By empowering agencies with secure and efficient digital tools, GCash continues to play a pivotal role in building a safe, trusted, and inclusive digital economy—helping government institutions uphold transparency, accountability, and sustainable governance for every Filipino.

“Once fully deployed, we will anchor a sustainable digital ecosystem that streamlines transactions, strengthens transparency, and accelerates the country’s digitalization agenda,” said GPPB-TSO Capacity Development Division officer-in-charge Renlay Concha.

GCash for the Nation program brings digital and financial literacy training to different regions across the country. Earlier sessions were held in Pangasinan and in the National Government Agencies cluster in NCR, Eastern and Western Visayas. These will be followed by the next runs in Cagayan Valley on November 25, and Albay on November 27. Through these continuing efforts, GCash remains steadfast in its mission to enable Finance for the Nation by empowering communities, MSMEs, and government partners through digital innovation.

For more information, visit https://www.gcash.com.

GCash named ‘Outstanding Partner’ at the BSP Stakeholders Appreciation Ceremony 2021

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GCash, the undisputed no. 1 mobile wallet app in the Philippines, was named an “Outstanding Partner” by the Bangko Sentral ng Pilipinas (BSP) at this year’s Stakeholders Appreciation Ceremony for its innovative financial solutions to grant financial access to all Filipinos, especially the unbanked and underbanked segments.

GCash President and CEO, Martha Sazon receives token as an Outstanding Partner of the BSP Stakeholders Appreciation Ceremony 2021

“We are very honored to be named as one of the Outstanding Partners by the Bangko Sentral ng Pilipinas. At GCash, we have been working very hard to provide more relevant financial services and products to build a more inclusive financial ecosystem,” said Martha Sazon, GCash president and chief executive officer. “This recognition is an affirmation of our hard work to achieve finance for all.”

For this year, the annual BSP Stakeholders Appreciation Ceremony was done virtually. With the theme “Pagpugay at Pagkilala sa Gitna ng Hamon ng Pandemya,” the awarding ceremony acknowledged the outstanding partners who have supported BSP’s various initiatives and advocacy programs especially during the pandemic.

“It has been more than a year since the pandemic began, and with cautious optimism, we can say that the worst is over. Though our economy received big blows because of the pandemic, we started green shoots of recovery as early as the third quarter of last year. This is because of a whole nation approach that we, which includes our partners, employed,” said BSP Governor Benjamin Diokno.

In support of BSP’s recovery efforts, including its vision of financial inclusion for Filipinos, GCash has launched a host of products and services at the height of the pandemic. On the app, users can enjoy GSave, an online savings bank; GInvest, an easy investment feature; GInsure for insurance for medical emergencies such as dengue, COVID-19, and accidents; GCredit, a personal credit line with up to P30,000 credit line and up to 3% prorated interest rate. GCash features GLife, the e-commerce feature on the GCash app that allows users to shop exclusive deals from 35 brands across retail, food, gaming, entertainment, and transport.

To help mobilize the economy, GCash partnered with businesses and rolled out GCash QR on Demand. On the app, users can use the QR Code in place of their mobile number to send or receive money, whether for personal use or small businesses. These business partnerships include market vendors and customers, helping them have a safe and convenient payment method. GCash has also enabled 15,000 jeepney drivers to receive alternative income sources through the app and provides PUJ drivers and commuters with a safe and cashless transaction option amid the pandemic via P2P QR Codes on the GCash app.

Recently, GCash partnered with the BSP in launching a webinar series, which kicked off with the webinar entitled, “One with the Nation: Forging Public-Private Partnerships Towards Digital Inclusion in the Philippines.” The online event featured distinguished speakers from the public and private sectors led by Diokno, Sazon, Makati Mayor Abby Binay, Congressman Jose Enrirque Garcia, DSWD Director Wayne Belizar, and Bureau of Treasury of the Philippines OIC Deputy Treasurer Ed Marino.

TODA drivers go cashless with GCash to secure commuter’s safety

With its numerous programs and initiatives to promote digital transformation among Filipinos during the pandemic, the e-wallet app has grown its user base to more than 40 million, doubling the figure from 20 million users in January 2020.

For more information, visit www.gcash.com.

 

GCash backs BSP in providing digital payments solutions to grassroots merchants

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MANILA, PHILIPPINES -- GCash, the leading mobile wallet in the Philippines, is making strides in fulfilling the country’s goal of developing e-payments at the grassroots level, as it empowers micro-entrepreneurs and small enterprises to transact with customers through their mobile phones. 

Aside from huge mall establishments, quick-service restaurants, and supermarkets, GCash has also empowered the simple sari-sari store and tricycles to make digital transactions via GCash’s QR. 

This initiative, seen to revolutionize and transform the way Filipinos transact every day, is supportive of the Bangko Sentral ng Pilipinas’ (BSP) goal of creating a more inclusive society through a cashless revolution. 

“We are one with the BSP in concretizing our shared vision of spurring cashless transactions in the Philippines to make it easier for merchants and consumers to transact with one another. We are committed to continuously elevate this by developing more products and services that are fit for the needs of our valued partners,” GCash President Anthony Thomas said. 

GCash QR uses the best-in-class technologies that provide merchants with a fast, reliable, secure, and convenient way of accepting payments. By transacting through mobile phones, GCash QR removes the need for point-of-sale terminals, maintenance, and manual cash sweeping. 

Aside from benefiting largely from the huge customer base of GCash, merchants can also set up their business QR payments facility for free. GCash also provides business partners with periodic reports to oversee the performance of their stores. 

Today, there are about 34,000 micro-entrepreneurs onboard the GCash QR technology, and 1,800 small and medium enterprises (SMEs) using the GCash as a mode of payment. 

These merchants include the vendors of the Marikina Public Market, the tricycle drivers of Boracay Island, and the sari-sari stores of Semirara Island, among others. 

Just recently, BSP Governor Benjamin Diokno said the central bank is envisioning a future where digital payments through transaction accounts will be part of the Filipino consumer culture. 

Going cashless, he said, benefits both merchants and consumers, as it removes the need for bringing cash, reducing the risk of theft, improving cash handling processes, and provide lower administrative and overhead costs. 

Diokno also said the central bank is now targeting to increase the share of non-cash transactions to 30 percent from the original 20-percent goal by 2020. 

“Our support for the government’s initiative for a more cashless Philippines remains steadfast, and we at GCash are committed to taking this a step further by creating more innovative financial solutions that will ultimately bring us closer to our goal of providing finance for all,” Thomas said.

BSP phasing out old bills, Replacement Process of Old Banknotes (New Design Series, NDS) with New Generation Currency Banknotes

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The Bangko Sentral ng Pilipinas is phasing out old banknotes or New Design Series bills starting new year.

BSP Deputy Governor Diwa Guinigundo announced that the demonetization of old banknotes will start on Jan. 1, 2015 to preserve the integrity of the Philippine peso as well as to benchmark with other countries' central banks practice of demonetizing banknotes every ten years to prevent counterfeiting.

Guinigundo said the move is in line with the provisions of Section 57 of Republic Act No. 7653, or the New Central Bank Act, that authorizes BSP to replace banknotes that are more than five years old. The NDS banknotes have been in circulation for almost three decades, he said.

These NDS that will be phased out include old 20-peso bill; 50-peso bill; 100-peso bill; 200-peso bill; 500-peso bill; and one thousand-peso bill.

The NDS banknotes have been in circulation for almost 3 decades:

Demonetizing NDS will result in the circulation of a single currency series in the country – the New Generation Currency (NGC) series.

Issued on December 16, 2010, the NGC banknotes are using new and enhanced security features to help thwart counterfeiting.

The two old designs of 10-peso bill bearing the face of Apolinario Mabini alone and Mabini together with Andres Bonifacio as well as the five-peso-Emilio-Aguinaldo-design bill are included in the demonetization. These three old banknote designs have no formal demonetization in the past years even they were replaced with new 10-peso and five-peso coins.

The NDS bills that will be demonetized are set to replace with the New Generation Currency or the latest designs of paper money introduced by the BSP in December 2010.

The central bank official said the public may continue to use the old banknotes until December 31, 2015 in paying and buying of goods and services and other business or financial transactions requiring the use of cash.

By Jan. 1, 2016, old banknotes can no longer be used in day-to-day transactions. However, from the said date up to Dec. 31, 2016 the public may exchange the NDS for NGC with authorized financial institutions such as universal and commercial banks, thrift banks, rural banks, and cooperative banks or with the BSP at full face value and without charge.

Guinigundo also said that for overseas Filipinos, who have NDS banknotes which could not be exchanged within the prescribed period, they may register from October 1, 2015 until December 31, 2015 through the BSP website. The NDS banknotes may be exchanged with the BSP within one year from date of registration.

By January 1, 2017, the old banknotes will no longer have monetary value and will be considered demonetized.

Guinigundo said that there are 729 pieces of old banknotes or about P192 billion to be demonetized. These are 25 percent of the total volume and 26 percent of the total value in the circulation.

The demonetization of NDS will result in the circulation of a single currency series in the country -- the NGC series.

The BSP had stopped the production of old banknotes since last year.

BSP Announces the Replacement Process of Old Banknotes (New Design Series, NDS) with New Generation Currency Banknotes 

The Bangko Sentral ng Pilipinas (BSP) announces today the start of the demonetization process on 1 January 2015 for the old banknotes (New Design Series, NDS) as part of its objective to preserve the integrity of Philippine currency. This move is in line with the provisions of Section 57 of Republic Act No. 7653, otherwise known as the New Central Bank Act, which authorizes the BSP to replace banknotes that are more than 5 years old. The NDS banknotes have been in circulation for almost three decades .

The public is advised of the following important information:

* The public may continue to use the NDS banknotes up to 31 December 2015 in paying and buying of goods and services and other business or financial transactions requiring the use of cash. Thereafter, the NDS banknotes will no longer be accepted for payment transactions;

* From 1 January 2015 to 31 December 2016, the public may exchange with authorized financial institutions, namely universal and commercial banks, thrift banks, and rural as well as cooperative banks, their NDS banknotes with the New Generation Currency (NGC) Series at full face value, without charge. The public may also opt to exchange NDS banknotes with the BSP or any of its regional offices/branches around the Philippines ; 

* Government institutions holding in trust NDS series which could not be exchanged during the prescribed period, such as banknotes used as evidence in a litigation case, will have to request the BSP Cash Department in writing, within the period of exchange, for a special exchange arrangement;

* For Overseas Filipinos (OFs) abroad, who have in their possession NDS banknotes which could not be exchanged within the prescribed period, they may register online starting 1 October 2015 to 31 December 2015 through the BSP Website. These NDS banknotes may be exchanged with the BSP within one (1) year from date of registration; and

* Starting 1 January 2017, NDS banknotes that have not been exchanged shall no longer have any monetary value, and are considered demonetized. 

* The demonetization of the NDS will result in the circulation of a single currency series in the country – the NGC Series. The NGC banknotes which were issued on 16 December 2010 use new and enhanced security features to protect the safety of the public against counterfeiters. 

www.bsp.gov.ph