GCash launches QR on Demand, the newest way to transfer money

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GCash, the undisputed leader and preferred mobile wallet in the Philippines, launches QR on Demand, a new money transfer feature that allows for more security and convenience for its users, letting them send and receive money using their own personal QR.

 

QR on Demand’s Send via QR lets its users scan or upload another customer’s QR code, so users are assured that they’re sending money to the correct person. This also eliminates the process of having to enter a mobile number manually, making the process of sending money faster, and avoids money incorrectly sent to wrong numbers.

 

Receive via QR on the other hand allows customers to generate their own personal QR code that can be scanned by other users or uploaded to the app to send money to. This is even more secure since it doesn’t divulge a customer’s GCash number publicly, and doesn’t expire so other users can use the same QR code to send money multiple times. Fully verified GCash users can also assign a peso value to the code itself so that a certain amount will be auto-generated every time the code is scanned, assuring customers of exact payments for every transaction.

 

Sending and receiving money via QR also protects users against the pandemic, a phenomenon that continues to impair both Filipino citizens and the Philippine economy even in 2021. Just last year, GCash enabled over half a million social sellers to continue doing business transactions online using GCash.

 

“GCash continues to innovate for better means of transferring money and better customer experience, while at the same time keeping Filipinos safer and more secure in this highly digital world,” said Martha Sazon, President and CEO of GCash. 

 

“Aside from money transfers, the new QR on Demand feature can also be used by enterprising citizens in conducting informal businesses,” she added.

 

GCash has pioneered the use of QR codes for payments in the country. In 2017, it launched the GCash QR feature which allowed users to scan a merchant’s QR code and pay cashless. It worked by using the user’s smartphone camera to scan a GCash Partner Merchant’s QR code, and was deployed in major areas such as malls, and to even smaller vendor partners, such as sari-sari stores, fishball vendors, and sorbetes vendors. Learnings from this previous feature are translated and combined with its Send Money service, ensuring for a fast and seamless customer experience.

 

GCash is constantly pushing for the adoption of cashless payments as it supports the Bangko Sentral ng Pilipinas’ Digital Transformation Roadmap, where the agency aims to shift at least 50 percent of retail payment transactions to digital, and to have at least 70 percent of Filipinos have their own e-wallet by 2023.

 

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc. 

 

GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/

GCash in 2020 Catalyzing growth of the new digital economy

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2020 has been a year full of challenges, with the world still reeling from the effects of the COVID-19 economically. In the Philippines, consumers have adjusted to the new normal by adopting, among others, fintech services to make their financial lifestyles more convenient and themselves safe against the pandemic.

Dedicated in its commitment in democratizing payments, GCash, the undisputed leader and preferred mobile wallet in the Philippines, shares how Filipinos have embraced digital finance through a snapshot of its performance this year.

Over PHP 1 trillion in transactions have passed through the GCash app during 2020, peaking at a PHP 7.5 billion daily gross transaction value, and with more than 6 million transactions in a day. The mobile wallet company also grew its users to 33 million, a 65% growth versus last year.

GCash Forest, the mobile wallet’s multi-awarded, gamified solution in reducing the nation’s carbon footprint, has now over 6.7 million users actively collecting carbon points, which in turn can secure the users an actual tree to be planted in select forest sheds in the country. 

“GCash has played an integral role in keeping not only the economy going this year, but keeping Filipinos safe and sane during the pandemic. We’ve seen not only heads of households and young adults use the GCash app for their financial lifestyle, but even consumers that advocate a greener Philippines, in maximizing what our platform has to offer,” said Martha Sazon, President and CEO of GCash.

GCash is also revolutionizing the way Filipinos handle their money. As of November 2020, 3 million GSave accounts have been opened, demonstrating how banking behavior is shifting from traditional physical branch visits, to simply transferring to a digital savings account. Lending is another example: Over PHP 8 billion have been extended to more than 900,000 Filipinos in need of funds through the app’s GCredit service, disrupting existing processes for loans in the country. 

As a force for good, GCash users have donated more than PHP 40 million in 2020 alone as relief to those who have been affected by COVID-19 and the typhoons near the end of the year through the mobile wallet’s CSR initiative GCash for Good. Gone are the days where donations are only done through banks, with donors scanning deposit slips as proof of transactions. Once again, behavior has shifted from traditional to digital. 

Shopping is another use case consumers have applied GCash to: this year alone, Filipinos spent over PHP 16 billion on popular online shopping sites such as Lazada and Shopee. Meanwhile, more than 600,000 merchants and social online sellers opened up shop during the pandemic with GCash as the primary mode of payment.

“Aside from regular financial transactions such as money transfer and bills payments, we’ve noticed shifting behaviors on how money and digital money is being used, namely on entertainment, savings, donations, and online shopping,” added Sazon, crediting the mobile wallet’s quick pivot on user needs to further expand financial inclusion in the country through digital transformation.

GCash is so pervasive in society that it’s becoming a verb: A Filipino on average mentions the word “GCash” on social media every second of every day in the country, not yet including other communication media such as personal conversations, texts, and emails. Memes have also popped up this holiday season, asking ninongs and ninangs to just send their aguinaldos using GCash.

The outlook of fintech indeed is bright in the country, especially now that the new normal is here. This year, the Bangko Sentral ng Pilipinas announced their Digital Transformation Roadmap, where the agency aims to shift at least 50 percent of retail payment transactions to digital, and to have at least 70 percent of Filipinos have their own e-wallet by 2023. GCash fully supports this endeavor, and is confident that it will be able to accelerate meeting this goal, as 1 in 3 Filipinos already have a GCash account. 

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.

GCash is available for download on the App Store and Google Play. 

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

 

Top 5 Christmas gift ideas you can give via the GCash App

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This 2020 holiday season is unique because of the pandemic, community quarantines and lack of opportunities to socialize with family and friends. So it’s no surprise that consumers will find other ways to give gifts -- or even give non-conventional gifts -- for Christmas.

GCash, the undisputed leader and preferred mobile wallet in the Philippines, suggests that Filipinos go for digital gifts readily available within the GCash app for Christmas. This is not only very practical and usable, but will also keep consumers safe from the pandemic by being contactless.

“This holiday season is the first in recent history where some friends and families won’t be able to see each other because of the pandemic, preventing much needed social interaction. However, through fintech, we can still make our loved ones feel the Christmas spirit. This is possible with GCash,” said Martha Sazon, President and CEO of GCash.

Here are some top recommendations users can check out for a Merry GCash Christmas:

Gift idea #1. Send aguinaldo to your inaanaks, family, and loved ones!

Physical aguinaldos on envelopes are a thing of the past. Go digital with GCash instead! Just navigate to the Send Money section of the GCash app, select Send Pamasko, and add the numbers of the recipients and the aguinaldo amounts you’re going to give them!

Users also have the option to customize their Send Pamasko through a variety of digital envelopes, and even add a holiday message to it, too! It will save everyone a lot of time and effort, plus your younger pamangkins and inaanaks will appreciate it more since it’s digital (because they’re the digital generation) with a dedication.

Gift idea #2. Gift prepaid load to others, and get the chance to win back load for yourself!

Sure, prepaid load isn’t something one thinks of immediately when it comes to Christmas gifts, but in this weird time of being contactless, having prepaid load is a key way to stay connected with family, friends, and loved ones.

Great thing is that GCash is also holding a promo this holiday season where you can win back the load you purchase.

Every regular, combo, or broadband load you purchase using the GCash app entitles you to one digital scratch card where you get a chance to win up to 100% of the load you bought back! Just enter the mobile number you used to purchase, and the transaction reference number you received from 2882 on www.load2win.com!

Gift idea #3. Getting your loved ones insurance is a great gift this Christmas

We have heard a lot of unfortunate stories about one’s health and well-being this year, especially relating to illnesses. That’s why having your friends, family, or loved ones insured is something that they will appreciate, knowing well that they can have something to fall back to regarding their health.

Powered by Singlife, GCash is offering medical coverage against dengue for as low as PHP 300 a year! The first 10,000 customers will also get free COVID-19 coverage when they avail.

If you want to have your immediate family protected with this gift, simply just log-in to the GCash app and go to GInsure. If you want to have your friends and extended family covered with insurance as well, you can use Send Pamasko and use the customized Singlife digital envelope to make sure they use it for purchasing insurance!

Gift idea #4. Pay someone’s bill for the gift of peace of mind

The pandemic has brought people to their knees physically, emotionally, and financially. If you have someone close to you that you know has been experiencing troubles and catching up with their monthly dues, why not pay it for them as a gift? Not only will they thank you for it for their peace of mind (imagine not having electricity for December because they weren’t able to pay their bill) , you’ll also buy them more time to get a better start for 2021!

To start, you can get their account number or bill reference details and the amount due, input it on the Pay Bills portion of the GCash app, and pay! The bill will be settled in as fast as 24 hours.

Gift idea #5. Donate to your favorite charity and make their beneficiaries’ Christmases a memorable one

People used to do feeding programs and other public social activities to celebrate their Christmas pre-COVID. Unfortunately, this is not really practical and safe to do anymore because of quarantine restrictions. However, there’s another way you can help -- by donating to a charity or NGO of your choice via the GCash app.

Through the GCash app, you can directly send funds to organizations such as the ABS-CBN Lingkod Kapamilya Foundation, Philippine Red Cross, Caritas, Childhope, Operation Smile, UNICEF, World Vision, and the World Wildlife Fund. Donations will greatly help their advocacies.

GCash is also holding its Merry GCash promo, where customers get a chance to win one of over PHP 30 million in prizes just by simply using the GCash app. For more information, visit facebook.com/gcashofficial.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.

GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/.

Over PHP 30 million of prizes to be given away at GCash's Merry GCash Promo!

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There’s about 30 million reasons to celebrate Christmas this 2020, and it’s just by using the GCash app!

GCash, the undisputed leader and preferred mobile wallet in the Philippines, is giving away over PHP 30 million in prizes and surprises with its biggest holiday promo yet, Merry GCash!

It is indeed ChristMAS KAYA with GCash because by just simply using the app -- buying load, sending money, shopping using scan-to-pay, and doing other transactions -- customers can win daily gifts up to PHP 5,000, and also get a chance to win smartphones, TVs, laptops, gaming consoles, and more at the grand raffle!

As an additional pamasko, customers who buy prepaid load using the GCash app also get a chance to win up to 100% of their load back via the Load2Win promo! Customers can learn more at load2win.com.

“While 2020 has been a very challenging year altogether, the Filipino Christmas spirit is very much alive, it’s through our Merry GCash campaign where we want to embody the same -- spreading joy and giving gifts this holiday season, just by using the GCash app,” said Martha Sazon, President and CEO of GCash.

Even with the pandemic, GCash is still empowering Filipinos to continue traditional Christmas traditions through financial technology. With the GCash app, customers can send aguinaldo digitally to their loved ones through the Send Pamasko option under the app’s Send Money feature. 

For physical gifts, customers can now use GCredit on Shopee, perfect for those who would want to buy now and pay later. 

Lastly, customers have multiple options to have their noche buena with GCash. Customers who want theirs pre-made can order from foodpanda and get PHP 50 off when they pay via GCash and use the code “GCASH50” upon checkout. 

For those who would want to prepare theirs with the family meanwhile, they can do their holiday grocery shopping inside the GCash app as well! Powered by Puregold, customers can purchase their groceries directly from the app by going to GLife then selecting Puregold, checkout digitally and pay using funds from their GCash wallet, and have the option for branch pickup or delivery. 

Aside from Puregold, GLife will also soon offer digital storefronts to different industries such as gaming, food delivery, grocery, retail, transportation, and more. Datablitz, Purego, Boozy, and Goldilocks are among the partner stores coming soon, while top local online shopping website Lazada, Zeal Rewards, Globe One, and Goama Games are already available inside GLife.

“Cashless transactions this holiday season are crucial for the safety and convenience of Filipinos. Gone are the days where you have to do most things physically, be it sending pamaskos or going to a supermarket to prepare for noche buena. The GCash app offers this new and more convenient reality to Fililpinos, empowering them to do more on their smartphones while staying safe at the comfort of their homes,” Sazon said.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc. 

GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/.

1st World Fintech Festival: Philippines as Asia's next big tech hub marks digital footprint across the globe

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The Philippines is set to showcase its best financial technology (fintech) practices to an international audience and cement its global digital footprint in the five-day virtual World Fintech Festival (WFF) on December 7-11. Previously presented as Singapore Fintech Festival (SFF) in past years, this year’s WFF shall spotlight key executives and decision-makers from different Asian nations as they discuss how they pilot fintech to produce societal impacts. Global tech legends like Bill Gates, Google CEO Sundar Pichai, and Microsoft CEO Satya Nadella will broadcast their talks to WFF participants in ten free sessions through YouTube and Facebook. 

The WFF-Philippines, co-presented by leading telecommunications company Globe, is also intended to galvanize Philippine industries to accelerate their own adoption of fintech, be open to innovation, and invest in their workforce’s digital upskilling. It is designed to bring together the public and private sector to help build inclusive digital economies. 

During the virtual presser on November 18, Sopnendu Mohanty, Chief Fintech Officer of the Monetary Authority of Singapore (MAS), remarked on the readiness of the nation’s fintech industry. He said, “The Philippines is the country that I will never ignore. You have a remarkable GDP and a fairly young demographic. The true test of a company’s strength comes from a crisis---and the businesses in the Philippines have truly demonstrated this.” 

A first in the country, the WFF - Philippines is organized by GeiserMaclang Marketing Communications, Inc. (GMCI) in partnership with MAS and SingEx. It is expected to draw in the same crowds who attend the SFF, including business leaders and CEOs from 140 countries. 

Industry leaders who will headline the WFF-Philippines were present during the virtual presser: Melchor Plabasan, Director, Bangko Sentral ng Pilipinas; Martha Sazon, President and CEO of Mynt and Chairman of the EMoney Association of the Philippines Inc.; Dr. Justo Ortiz, Chairman, UnionBank of the Philippines and President of the Fintech Philippines Association; Noel Bonoan, KPMG Vice Chairman and COO; and Atty. Mark Gorriceta, Managing Partner of Gorriceta Africa Cauton & Saavedra.

WFF-Philippines Convenor and GMCI’s Co-founder Amor Maclang, who moderated the panel discussion, says the event can amplify the Philippines as a tech hub attractive to global investors. “We are championing the Philippines, following the footsteps of Singapore, as an incubator for technology and fintech. At the same time, tech is here to serve the underserved, the underbanked, and the under sheltered. Fintech has created opportunities for people on the spot,” said Maclang, citing the sari-sari stores and online entrepreneurial shops as examples of fintech’s inclusivity. 

Bangko Sentral ng Pilipinas (BSP) has also paved the way for the country to be more open when it comes to seamless and contactless payment behaviors. Its data shows a surge in the use of internet banking, mobile apps, and services like Instapay and PesoNet during the pandemic. BSP Director Melchor Plabasan revealed some initiatives, saying, “More than four million accounts were opened during the first two months of the lockdown. We recently crafted a three-year roadmap that aims to develop an efficient, safe, and secure digital-payment ecosystem. We aim to shift 50% of retail payments to online, and ensure that 70% of adult Filipinos will have access to digital accounts.”

Martha Sazon, President and CEO of Mynt, which manages the country's leading mobile wallet app GCash among its innovations, revealed one of the trends observed during the lockdown: “It is the younger generation who is most aware of their financial stability within this time. These things have pushed us to provide savings, credit, and insurance, all within GCash. To date, we have gained 26 million GCash customers, which is ten times higher than our monthly users in 2017.” 

Ms. Sazon, who is also Chairman of the EMoney Association of the Philippines, estimated that one trillion transactions will be made through GCash by the end of December. 

Meanwhile, UnionBank of the Philippines, which pioneered digital banking, was able to accommodate the large spikes of consumer demand when the clamor for online transactions soared during the first few months of the COVID-19 crisis. Dr. Justo Ortiz, UnionBank Chairman, pointed out the future of money movements: “Financial transactions, embedded in actual live transactions people do day to day, are the ultimate end game. Whatever you do, whether you buy food, take a trip—we will embed it in financial transactions across the board.” 

Auditing firm KPMG has leveraged on tech to redefine its business operations, services, and client management system. Its Vice Chairman and COO, Noel Bonoan, explained, “We assist our clients on automation, artificial intelligence, and cybersecurity. You cannot properly assist them if your organization cannot practice what you preach.” 

Atty. Mark Gorriceta, Managing Partner of law firm Gorriceta Africa Cauton & Saavedra, affirmed that speedy, accountable action holds the keys to digital transformation. He said, “We help our clients navigate and understand its intricacies. In aiming for responsible fintech, we closely work together with the BSP, the Insurance Commission, and the Securities and Exchange Commission.” 

Dr. Ortiz reiterated that in all great journeys of impact, making the difference at scale requires great effort and investment in human capital which is “the challenge of our generation. As the speed of innovation is accelerating, we need to double-time and intensify our efforts so nobody will be left behind,” he emphasized. “Learning, unlearning, and relearning will be a consistent process in our digital journey to become a robust and competitive digital society.” 

The World Fintech Festival-Philippines agenda of speakers will span the length of the five-day global program which will run from December 7-11. 

For more information and to register for the event, click here: https://www.fintechfestival.sg/register-now.

Free cash-in via BPI, BDO, Unionbank and other banks with InstaPay - GCash

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Users of GCash, the undisputed leading and preferred mobile wallet in the Philippines, can enjoy FREE cash-in services using banks with apps and websites that are powered by InstaPay.

GCash users who have bank accounts that allow them to digitally top up their e-wallets may use the cash-in service for FREE. For instance, GCash users who are also BPI account holders may use their BPI mobile app to transfer money to their GCash wallets for FREE.

Aside from BPI, over 30 banks allow their account holders to top up their GCash wallets for FREE, including BDO, Metrobank, RCBC, etc. Cashing in via bank apps and websites may differ per financial institution.

“GCash provides great value to the lives of Filipinos, especially now that we are transitioning to the so-called new normal. Digital finance will play a big role during these times, and providing the free cash-in via bank apps and websites through the InstaPay service will help GCash users maximize the use of their mobile wallets,” GCash President & CEO Martha Sazon said.

Aside from being free, cashing in via bank apps and websites is also real-time, which means that the amount transferred from a bank account to a GCash account should reflect immediately. Cash In via Instapay is free for most banks.

GCash users may use their mobile wallets for a variety of financial services. GCash empowers users to pay for physical and online transactions to over 75,000 merchants, transact with over 400 billers, and transfer funds to over 40 banks in the Philippines.

They may also use their GCash wallets to buy airtime load, save money, invest in money market funds, and purchase insurance products.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.

For more information regarding bank app cash-ins, customers may visit https://help.gcash.com/hc/en-us/sections/900000085683-Cash-In-via-Bank-EMI-Apps.

Card payment partners charge 2.58% convenience fee for GCash cash-in via MasterCard/VISA bank card

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The card payment partners of GCash will charge a minimal convenience fee of 2.58 percent for cash-in via MasterCard/VISA bank card services starting July 6, 2020. The fee is a direct charge of payment partners.

The convenience fee will be computed and will be stated in the GCash app for each cash-in via bank card transaction. For instance, a customer cashes in P100 in his GCash wallet. The convenience fee would be P2.58, for a total amount of P102.58 charged to the card.

The fee is still lower than other mobile wallets, which charge a flat rate of P30 for cash-in transactions below P1,000. GCash also provides other cash-in methods that are totally FREE, such as cash-in via linked BPI or UnionBank accounts or through a bank app or website powered by InstaPay.

“We at GCash have always provided the most convenient, safe, and affordable financial services in the country. We aim to keep it that way despite the recent increases in charges implemented by our card payment partners. We would like to assure that GCash does not earn a single centavo from the direct charges implemented by our payment partners,” GCash President and CEO Martha Sazon said.

GCash account holders that cash-in via their MasterCard/VISA bank cards may check their transaction histories on the GCash app or may download their transaction histories through their nominated e-mail addresses.

“Even with this soon-to-be implemented minimal charges, GCash will continue to provide the best-in-class services that Filipinos have come to love over the past decade. We will continue to be more innovative and proactive in developing safe, secure, and affordable financial services and tools so that more Filipinos can maximize the benefits of digital finance,” Sazon said.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.

GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/.

GCash helps disburse close to 2B gov’t financial aid to 335,000 Filipinos

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GCash, the undisputed leading and preferred mobile wallet in the Philippines, has helped both the national and local governments to disburse close to 2 billion in financial aid to more than 335,000 Filipinos who were adversely affected by the national health situation.

Since the start of the community quarantine periods in March, government agencies both local and national have tapped GCash for the quick, safe, secure, and transparent distribution of their own financial support to intended beneficiaries.

For local governments -- including central business districts Makati City, Quezon City, and Pasig City -- GCash has so far disbursed a more than P1.5 billion to over 310,000 beneficiaries. It has also disbursed more than P300 million to over 25,000 beneficiaries of the social amelioration program of the Department of Social Welfare and Development (DSWD).

“The government has realized that financial technology is no longer just a means for convenience, but it is now a necessity. The disbursement of financial aid close to 2B to over 335,000 beneficiaries and still growing through the GCash platform is just the tip of the iceberg. We continue to facilitate the distribution of financial aid to more Filipinos nationwide,” GCash President and CEO Martha Sazon said.

As the pioneering mobile wallet in the Philippines, GCash saw its platform as an effective means of distributing financial aid to those who were most affected by the national health situation.

Government agencies and local government units saw the value of using GCash as an effective, efficient, and transparent means of disbursing the financial assistance to their constituents.

National government agencies that have tapped GCash, through its partnership with the DSWD, for the distribution of financial aid include the Department of Transportation-Land Transportation Franchising and Regulatory Board (DOTr-LTFRB), and the Social Security System (SSS).

Just recently, GCash was mentioned by no less than President Rodrigo Roa Duterte in his report to Congress, saying that GCash has powered the government’s efforts in providing relief to drivers who were affected by the community quarantine. GCash allowed the government to use its platform for free.

“As a strong government partner, GCash supports the government in its efforts to curb the spread of the virus. Through our safe, secure, transparent, and convenient platform, we have lessened the need for physical distribution centers, reducing the risk of transmission,” Sazon said.

Likewise, beneficiaries of the financial aid programs were able to use their mobile wallets for a variety of financial services. GCash empowers users to pay for physical and online transactions to over 75,000 merchants, transact with over 400 billers, and transfer funds to over 40 banks in the Philippines. GCash users may also use their GCash wallets to buy airtime load, save money, invest in money market funds, and purchase insurance products.

Beneficiaries also have the option of cashing out their financial assistance from partner establishments such as Puregold, Villarica Pawnshops, as well as ATMs through their GCash MasterCard.

“We can only beat this virus through collective efforts. We look forward to serving more Filipinos through these partnerships with the government,” Sazon said.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.

GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/.

Globe, GCash introduce exclusive data promo for prepaid subs

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Globe prepaid subscribers are up for a treat, as they get a new exclusive mobile promo from GCash that enables them to avail of more mobile data connection for less, allowing them to enjoy streaming videos, to connect with loved ones on social media, and to use their time for productivity.

Through their GCash apps, Globe prepaid subscribers may avail of the exclusive data bundle GoEXTRA90, which offers users with 8GB of mobile data plus unlimited calls to Globe and TM, unlimited texts to all networks, and 1GB of GoWifi access. This is 32GB for 360 pesos per month.

“Customers do not have to worry about staying connected with their loved ones even during the middle of the pandemic, because GoEXTRA90 lets them do this without having to leave the safety of their homes and without breaking the bank. We are offering this exclusive promo to our Globe prepaid subscribers to allow them to do more with less,” GCash President & CEO Martha Sazon said.

With GoEXTRA90, GCash users can enjoy these benefits for the low price of P90 when they register through the app. Even Globe Prepaid subscribers who are non-GCash users can avail of this exclusive promo simply by downloading the app for free in the iOS App Store or Google Play Store.

The pandemic has forced everything to go digital, including schools and offices. GoEXTRA90 is the best alternative to conventional internet and mobile data plans because it provides a week’s worth of fast internet access and unlimited texts and calls for less than a hundred pesos.

“As demand in mobile data and Internet connection rises because of the pandemic, we at Globe have to provide better deals to make the lives of our customers easier. This exclusive bundle with GCash will definitely help promote productivity, while providing Filipinos with a means to cope with the effects of the community quarantines,” Globe President Ernest Cu said.

With GoEXTRA90, GCash users who are Globe Prepaid subscribers get better value for money. For 8GB of mobile data, subscribers can enjoy 96 hours of internet browsing or watch 16 hours of standard definition of videos online. This can also be used to attend online meetings via Zoom for those in a work from home setup or classes for students under remote learning.

On the other hand, the free voucher gives discounts to GCash users when they shop or dine in their favorite stores by using GCash as a payment method.

To subscribe to GoEXTRA 90, open the GCash app on Android or iOS, choose the Buy Load option, and look for the GoEXTRA90 in the ONLY ON GCASH! or the SURF tab.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.

GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/.

Fintech should power disbursement programs as manual cash aid distribution risky

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Under the “new normal” dictated by COVID-19, contactless solutions are perceived to be the best way of distributing cash assistance to families and households greatly affected by the pandemic.

In the Philippines, the distribution of financial aid under the Social Amelioration Program (SAP) to beneficiaries is still implemented on ground. Left with no other choice, thousands of people have flocked to the Department of Social Welfare and Development (DSWD) distribution centers in their respective local government units to receive the cash grant. Social distancing protocols were impossible to follow due to the high volume of beneficiaries lining up for financial assistance, thus increasing the risk of contracting the virus.

Aside from a higher risk of spreading COVID-19 brought about by the lack of social distancing in distribution centers, using bank notes is also a possible way of transmitting the virus. Health experts found that paper money increases the risk of coronavirus transmission since harmful bacteria and viruses can survive on its surface for several days. 

“The current situation demands us to think out of the box to flatten the curve. GCash, the leading mobile wallet in the Philippines, is more than ready to help the national government shift from paper money to digital finance for quick, safe and secure data-driven transactions. This is also the best way to decongest SAP distribution centers when social distancing is a mandatory protocol we should all follow,” GCash Vice President for Enterprise Luigi Reyes said. 

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno encouraged citizens to go cashless to prevent crowds from forming in essential establishments during quarantine. In the duration of the community quarantine, foreign and local banks alike reported a sharp increase in digital transactions as more and more Filipinos discover the wonders of digital finance.

With the implementation of general community quarantine in the country’s capital and a modified general community quarantine in most areas until June 30, innovative ways of distribution are called for to support public efforts to flatten the curve and to promote public health.

Mobile wallets are not only a matter of convenience anymore. In the face of a pandemic, they have almost become a necessity, since digital fund transfer supports the government’s initiative to keep people in their homes. Aside from this, going digital also promotes transparency and efficiency in keeping track of public funds since every transaction leaves a digital footprint with both the beneficiary and the government agency.

“In a time when lower-income households are struggling to make ends meet, SAP distribution should be faster and more efficient. Digital wallets can address the urgency demanded by the current situation since all it takes is a click to send the cash assistance to the intended beneficiaries,” Reyes said. 

GCash provides a safer and better alternative to cash as it reduces costs and increases efficiency of transactions, better transparency and security, offers greater convenience, and promotes financial inclusion. 

In fact, some local governments have already resorted to contactless solutions through GCash in disbursing economic aid to their residents. Instead of manual disbursement through city hall employees or through physical facilities, Makati City has partnered with GCash to efficiently and safely provide aid to its constituents. 

Makati is the first city in Metro Manila to implement contactless financial assistance through GCash and the Makatizen Card. Beneficiaries can dispense with bank notes and just use their GCash app in buying groceries, paying bills, and other tasks. Long lines at the bank are also dispensed with since GCash allows users to transfer money to their preferred bank. 

Pasig City has also tapped GCash for the pilot implementation of the United Nations Development Programme’s (UNDP) Adaptable Digitally-Enabled Post Crisis Transformation (ADEPT) Project. This project aims to help an initial 600 families to receive their supplemental SAP via GCash. 

“GCash is always willing to partner with local government units like Makati and Pasig to support their efforts in preventing further spread of COVID-19. We look forward to collaborating with various governments, agencies, and even non-government organizations to provide contactless disbursement solutions to support the flattening of the curve,” Reyes added.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc. 

GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/.

GCash provides Filipinos access to savings amid COVID-19

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The coronavirus pandemic highlighted the importance of keeping an emergency fund, studies show.

A recent consumer expectations survey by the Bangko Sentral ng Pilipinas (BSP) revealed that more Filipinos are now building their own savings accounts, with 73.9-percent of respondents setting aside money in their banks for unforeseen situations.

Aside from its impact on public health, COVID-19 is also proving to be a financial emergency. The BSP is bracing for a downturn for the national economy, as well as a 2.2-percent increase in the price of basic goods. Businesses are also taking a big hit from the lockdown, as massive layoffs are still expected to come, leaving Filipinos financially handicapped in the middle of a public health crisis.

Having reached more than two months of quarantine which last until May 31, the Philippines is one of the countries with the longest lockdowns in the world. In an effort to flatten the curve general community quarantine has been imposed in most parts of the country until June 15, while seriously affected areas remained under tighter quarantine protocols.

This has forced a lot of Filipinos to grow more mindful of their personal finances. According to a white paper released by AdSpark, Inc., a portfolio company under Globe Telecom’s 917Ventures, consumption of Personal Finances as a topic grew by 800 percent from January 2020 to end of March 2020 when most Filipinos were required to stay at home.

Mindful of these, GCash, the leading mobile wallet in the Philippines, is empowering Filipinos to efficiently manage their finance and save up for their futures.

GCash Save Money, a collaboration between GCash and CIMB Bank PH, provides an easier way for Filipinos to set up their own savings account or emergency fund. It is the first ever bank account that can be opened and maintained straight from the GCash app.

This spares verified GCash users the trouble of filling up multiple forms and lining up at the bank just to open up a bank account. GCash Save Money allows depositors to earn 3.1 percent per annum on balances, paid out monthly. This interest rate is the best in the industry, beating traditional banks that only offer up to 0.25 percent per year.

As an added bonus, GCash Save Money users who have average daily balances of P100,000 and above in the months of June or July 2020 are entitled to a 4-percent interest rate p.a. prorated for those months.

Users would also not have to worry about fees as well as there is no initial deposit and maintaining balance.

“Now more than ever, it’s important for us to practice financial literacy and make wise spending decisions in the middle of a pandemic. GCash Save Money shows us that it’s possible for all walks of life to set up their own emergency fund. Financial inclusivity is at the heart of this collaboration,” GCash Head of Data and Financial Services JF Darre said.

Any Filipino citizen above 18 years of age who owns a fully verified GCash account and a valid government ID can deposit under GCash Save Money.

GCash Save Money users can easily track their balance and transaction history through the “Save Money” button in the GCash app. They can also seamlessly move up to P100,000 per month between the deposit account and the e-wallet.

“GCash Save Money is also more secure than traditional cash handling and the Filipino habit of keeping cash in various places in their houses. Aside from being regulated by the Bangko Sentral ng Pilipinas (BSP), GCash Save Money accounts are also insured by the Philippine Deposit Insurance Corp. (PDIC) for up to P500,000,” Darre said.

As digital fund transfers increase in number as millions are in lockdown, financial technology is expected to play a big part in the new normal. Mobile wallets and e-deposit accounts are not just a matter of convenience in the era of social distancing, they have become necessities to help stop the spread of COVID-19 by making transactions go contactless instead.

“GCash Save Money is enabling more and more Filipinos to save as the days go by, especially now that they Filipinos are more mindful of their personal finances. We have seen this trend grow through our new customers and we are happy to empower them with a digital tool that allows them to financially secure themselves for the future,” Darre said.

So far, GCash has opened 2.2 million GCash Save Money accounts to date, further promoting financial inclusion in the country.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.

GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/.

Connectivity during COVID-19 is crucial, GCash CEO says

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The pandemic has changed virtually everything -- especially the way people work.

With the firm directive to “stay at home,” individuals and companies alike have come up with different schemes to continue operations—from furniture companies, delivery services, and telecom services—every business in the country are trying to find new ways to cope with the “new normal.”

What the pandemic has translated to, in the corporate world, is the increasing implementation of remote working schemes—utilizing technology to maintain workplace culture, the rise of so-called Zoom parties, as an effective alternative to the usual office banter and the ever-present online green orb that has everyone analyzing and predicting what the future of office culture looks like for the Filipino.

As the country continues to struggle against the coronavirus, with the Philippines still suffering from losses the ECQ has incurred—there’s a looming question in every Filipino’s mind: What will change?

Industry innovators like Martha Sazon, the newly appointed CEO of GCash-operator Globe Fintech Innovations Inc. (Mynt), see this situation as an opportunity to further strengthen interpersonal relationships between colleagues.

GCash is more relevant than ever, Sazon said at ReStart, a live learning series powered by Project Ripple Philippines, that gathered leading executives from different industries to discuss how to improve work-from-home processes during these tumultuous times.

“We're in a good place as a business because we're in demand, and we are able to help other businesses as well,” she added. “We have successfully gone through a major platform migration without having to be physically together.”

Globe and GCash continue to launch necessary services catered to a community going through the “new normal,” aimed at creating ways to provide the Filipino people comfort, ease, and convenience during these uncertain times.

“We complement the shift in online behavior, as we offer safe and secure cash transactions," Sazon said.

As the world continues to understand and adapt to the new environment the pandemic has thrust upon people, Sazon recognizes how employees of Mynt have continued to work through this crisis, creating and thriving in a world of digital collaboration despite being apart.

True to Mynt’s core values, fostering inclusiveness through financial technology to bridge the gap between the banked and unbanked, connectivity has always been Sazon's main concern.

“It requires a lot of checking in, mental health is very important,” Sazon emphasized. “People try to cope differently.”

There are over 700 Mynt employees as of today, and almost all of them are working from the comforts of their own homes. Mynt conducted a survey on how it can further help employees adapt to this arrangement.

Weekly activities such as non-related engagements like games and creative contests were also provided to ensure the mental health of Mynt employees. Leaders also engage in online huddles and provide learning activities to help each employee grow. Town Hall meetings are also being held on a regular basis

Zoom sessions with GCash employees have become more than just virtual meetings for productivity, Sazon said. They also include “kumustahan” sessions that have helped her maintain and boost the morale of her team.

"We need to reimagine the way we operate, and with that comes new skills, it’s about helping each other so we can cope with the new skills we need," Sazon added.

Despite the firm emphasis on social distancing, Sazon believes that work at GCash cannot be done alone, even with the physical hurdle of not being able to be in close proximity to each other.

“Above all the safety and well-being of our employees remain our priority, we need to keep our employees highly connected,” Sazon said.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.

GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/.

Driving inclusive finance through mobile technology: Fintech leader GCash says PH making strides in promoting financial inclusion

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MANILA, Philippines -- Leveraging technology for digital finance has long been recognized by major think tanks and global, multilateral, and intergovernmental organizations as a catalyst in promoting inclusive finance especially in emerging markets like the Philippines.

Financial technology (fintech), according to studies conducted by the World Bank and Alliance for Financial Inclusion, plays a key role to providing access to the unbanked and underbanked, as it brings financial tools and instruments closer to those who need them the most.

China and India have been successful in improving the state of financial access in their countries through fintech players, and their citizens are now reaping the huge benefits of financial services today.

This was made possible by the strong government support for fintech development, given their rising mobile-first populations as well as the need for easier access to a wide range of financial services.

“Fintech addresses the barriers that are linked to the lack of access to financial tools. By using technology to simplify processes and provide an environment that is both firm and lenient, we are allowing more people to participate in the financial ecosystem through their mobile phones,” GCash President Anthony Thomas said.

Worldwide, adults without an account at a financial institution cited the lack of funds, costs, distance, and documentation requirements as major barriers to formally participating in the financial landscape.

In the Philippines, seven out of 10 households are yet to own a bank account, while around 66 percent of Filipino adults are still considered unbanked. Majority of them cited constraints such as high costs of banking, socio-economic and cultural issues, strict documentary requirements, as well as physical access to financial institutions.

However, with advances in digital technology and constant innovation, fintech players in the Philippines such as GCash have helped bring down the costs of banking, bridged gaps in documentary requirements, and provided greater access to Filipinos.

“With the use of fintech, we offer a powerful solution to expand access and promote the use of digital financial tools that are tailor fit to the needs of Filipinos. We believe that through our platform, we will be able to help bridge the gap between the banked and the unbanked,” Thomas said.

GCash has made it its goal to provide easy access to financial tools such as credit, savings, insurance, and even investments, all of which are easily available on the mobile platform for all Filipinos. Aside from being zero-rated for Globe subscribers, GCash is also telco agnostic, hence anyone with a SIM card may register and own an account.

“The opportunity for us to use our platform to provide finance for all is immense. Various data show that seven out of 10 Filipinos now own a mobile phone and at any given time, 67 million Filipinos are online. With our huge push for the use of our platform and our passion to promote inclusive finance, our platform is now being used by 20 million Filipinos to participate in the financial landscape,” Thomas said.

From only 1.8 million users in 2016, the GCash app has now grown to 20 million users, with majority of account holders using the platform for peer-to-peer money transfers, domestic remittances, and payments. 

“We at GCash are proud to have gone so far, but the gargantuan task still remains — there are millions more that have yet to enjoy the life-changing benefits of being included in the financial landscape. We vow to continue to using our technology to provide a diverse suite of financial services that provides value to our customers,” Thomas said.