GCash, the country’s number 1 mobile wallet company, is the top financial technology brand to be included in the Top 100 Brands in the Philippines, according to Campaign Asia-Pacific and NielsenIQ. GCash is also one of Asia’s top 1,000 brands 2021.
Asia’s Top 1000 Brands is a consumer opinion survey across 14 markets in Asia-Pacific and measures brand preference in 15 product/service categories. It shows brands that are succeeding with their marketing and brand-building efforts and reveals the favorite brands among consumers. This year’s study saw the changing consumer behavior among brands and their increasing digital services.
The leading e-wallet made it to the list while also hitting an exponential growth of 46 million users in June 2021, from 20 million users in January 2020. The app also had over 13 million log-ins per day on the GCash app, peaking at 15 million in the second quarter of 2021.
With its vision for financial inclusion for all, GCash has quickly adapted to the needs of the Filipino people by being a digital payment essential for individuals and entrepreneurs, especially during the pandemic. The top mobile wallet company worked with the government and became its financial aid tool, disbursing over P16 billion to more than 2 million Filipinos and raising over P21 million to more than 3 million Filipinos via digital bayanihan.
“We are honored to be part of the top brands in the Philippines and in Asia. This award further inspires us to continue with our mission to empower as many Filipinos as possible by giving them access to digital financial solutions that can make their lives better and more convenient especially during this pandemic,” said Martha Sazon, President and CEO of GCash.
No other fintech brand made it to the top 50 of the prestigious list, where the ranking of GCash rose from the previous year’s 51st spot to this 24th in the country in 2021. Among the high-ranking brands in the list are Samsung, Apple, LG, Sony, Panasonic, Nike, Nestle, Google, Colgate, and Starbucks.
GCash’s leap in the list can be attributed to strong consumer spending via the app: This year, GCash processed an average of PHP 300 billion in monthly transactions, and is on track in breaching its PHP 3 trillion Gross Transaction Value (GTV) target.
GCash also provides customers an easy and secure cashless payment platform through digital products and services like free money transfers from user to user, frictionless bank transfers, and bills payments. The mobile wallet company also offers businesses, especially MSMEs, a contactless way to accept payment for goods through the use of QR codes and P2P platform, which has empowered over 2.5 million GCash merchants and social sellers.
Currently, a third of GCash’s monthly active users utilize at least one of the app’s digital products like GCredit, GSave, GInvest, or GInsure. GCash provides customers easy access to a pre-approved credit line to pay for bills or QR transactions with GCredit, safely deposit money with GSave, easily invest in a market fund with GInvest, and buy essentials on GLife. With the health risks of the pandemic, GCash also offers customers COVID-19 health insurance for as low as P39 a month via GInsure.
“We are glad to see that GCash has become an extension of the Filipino digital life. It is our goal to democratize access to financial services because everyone deserves to have ways to protect and grow their money, especially during these difficult times,” said Martha Sazon, GCash President and CEO.
GCash was recently named as an “Outstanding Partner” by the Bangko Sentral ng Pilipinas at the agency’s 2021 Stakeholders Appreciation Ceremony. The recognition is for GCash’s continued support and commitment to deliver innovative financial solutions to all Filipinos, especially the unbanked and underbanked segments.
GCash also garnered two awards from the prestigious Asian Banker Awards 2021, and was the sole Philippine fintech company to do so. It won awards for the “Best Financial Inclusion Initiative/Application” for its Social Amelioration Program together with the Department of Social Welfare and Development, and “Best Digital Brand Campaign” for its CSR response to COVID-19, further solidifying the company as the #1 e-wallet app in the country.
Many Filipinos have come to rely on GCash for their daily cashless payment transactions, helping sustain the economy during the pandemic and propelling the mobile wallet to becoming one of the most respected and widely used brands in the Philippines. According to Visa’s latest Consumer Payment Attitudes study, Filipinos using digital commerce platforms like GCash helped boost the usage of digital payments in the country. It was also expected that it will continue to grow as more Filipinos appreciate the benefits of contactless payments like GCash during the pandemic.
For more details, visit www.gcash.com.