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.
“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.
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 details, visit www.gcash.com.