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GCash Futurecast 2021: Philippines’ #1 e-wallet shares newest innovations

GCash Futurecast 2021: Philippines’ #1 e-wallet shares newest innovations

GCash introduces new in-app products and services. That way, they can make finance easy, approachable, and accessible to all Filipinos. Starting out as an e-wallet app in the Philippines, it transformed itself once again to respond to the call of the times. They launched new products and services to further their vision of making Filipino lives better every day. Of course, with finance solutions made for all. As a platform, GCash has enabled Filipinos with digital finance which remains accessible through mobile phones.

GCash Futurecast 2021: Philippines’ #1 e-wallet shares newest innovations 

1 in 3 Filipinos currently uses the app. And, of course, it grew its user base from just more than 20-million in January 2020 to over 40-million to date. GCash has gone beyond just providing seamless and secure transactions through cashless payments. Of course, this does not stop the leading mobile wallet to remain still and stop looking forward to the future. The organization, on the other hand, has anchored its thrust towards building robust financial services offerings. Aside from that, it extends the app capabilities to fit the lifestyle of its users, empower businesses, and entrepreneurs across different enterprise sizes.

It also sets to anchor the app’s ecosystem, partnerships, and capabilities to be a change agent and to commit to doing its part of nation-building. With new financial and lifestyle services, GCash now allows users its users to shop, save, invest, get insurance coverage, and more – all within the app. That not only means having a more frictionless user experience and convenience for all. But, more importantly, it means that many Filipinos will now have access to services that could help unlock a better every day. And, eventually, a brighter financial future.

Martha Sazon, President & Chief Executive Officer of GCash said:

“We want to make a real difference in the lives of every Filipino and break the existing boundaries to enable financial freedom. We envision the Philippines where people have equal access to financial opportunities and lifestyle choices, where everyone, whether rich or poor, has a chance to unlock and achieve their dreams.”

Unlock Your Financial Potential 

GCash continues to stand by its commitment to making finance accessible to all with its 2021 suite of affordable products and services built to kickstart success for everyone. Consumers can also unlock their life goals at any stage with GInvest. The latter refers to the new easy investment feature found in the GCash app. It lets you invest for as low as Php50 in professional managed local and global funds.

Amidst the pandemic, those who are looking for affordable coverage can turn to GInsure, where they get insurance for medical emergencies. Of course, this includes dengue, COVID-19, and accidents for as low as Php300. With this, consumers can also get financial assistance via cash for medical costs. The recently launched Cash For Income Loss due to any cause – all accessible through GInsure within the GCash app.

For easy management, GSave remains a fully digital, secure, and hassle-free savings account. This was built in partnership with CIMB Bank, wherein the only requirement to start is an ID and a smartphone. Its fully accessible once the account is created; and has no maintaining balance, no fees, and no initial deposit.

As a better alternative to high-interest loans and borrowing money for emergencies, GCredit serves as a fully verified user’s personal credit line within the app. This, on the other hand, allows users to provide those with high GScores up to Php30,000 credit line and up to 3% prorated interest rate. The earlier the due is paid, the lower the interest rate.

JF Darre, Head of Financial Services and Advanced Analytics of GCash shared:

“At GCash we want to be able to democratize access to financial services. We aim to break down barriers of entry for Filipinos and make them realize that saving, investing, or even insuring one’s finances can be accessible to all.”

Unlock a new lifestyle with GLife

With the aim to provide more than just convenience, GLife remains an e-commerce feature within the GCash app. It also allows users to shop and avail themselves of exclusive deals from a wide array of merchants. This, then, includes GOMO, Gong Cha, Kraver’s, McDonald’s, Puregold, and PureGO, Lazada, Recess, Boozy, Bo’s Coffee, Mama Lou’s GawinPH, KFC, Datablitz, CherryShop, Gameone, Goama Games, and more. Meanwhile, users and merchants alike can leverage the GCash payment system. It makes it an easier e-commerce experience for everyone. And, also making GCash the new super life app.

Winsley Bangit, Chief Customer Officer of GCash said:

“Accessible right from the GCash dashboard, you can already enjoy more than 25 brands across retail, food, gaming, entertainment, and transport. And we have more coming every week that will surely cover all your lifestyle needs.”

As part of its mission to help mobilize the economy. And, support all types of entrepreneurs. GCash also introduces GCash QR on Demand: a new and better way to securely send and receive money without having to worry about “wrong sends.” Of course, this comes due to incorrect numbers or giving away personal information. Such as their mobile numbers. Users can also easily generate their own Personal QR. They can use this in place of giving their GCash number, for safe and hassle-free payments whether for personal use or for small businesses.

GCash Futurecast 2021: Philippines' #1 e-wallet shares newest innovations
Financial Services Team Jerome Lim (Head of GInsure), JF Darre (Chief Data Officer), Maxine Pinpin (Head of Invest)

For fellow Filipinos abroad, GCash intends to aid and empower OFWs to take control of their finances. This happens by making the same products and services accessible to them. Every OFW with a verified account can now cash-in to their own GCash wallet. They can now do this via international remittance partners. And, also remit those funds instantly in the app. Through the app’s upcoming GPadala services, they can also send money to a non-GCash user for cash pick up anywhere in the country.

Fred Levy, Chief Commercial Officer of GCash shared:

“We have great ambition for 2021 for MSMEs and Filipinos in every corner of the globe; we know how this whole sector will be more critical than ever for our economy, and GCash can make a real difference in this sensitive situation. People need it. The country needs it.”

Unlock Social Impact 

As part of its holistic sustainability agenda for 2021-2025, GCash remains one with the nation. It aligns itself with the UN’s Sustainable Development Goals. This, of course, includes pursuing efforts beyond business results. Such as helping to make financial literacy and education accessible for all.

Plans to make this happen include the Kaya Mo, GCash Mo Roadshow, the design and roll-out of Future-Ready Hackathons, and the launch of G NA! IDEAS Para Sa Pinas. This 2021, GCash continues to pursue collaborations to achieve even bigger things with efforts like GCash For Good and the GForest platform.

Chito Maniago, GCash’s Vice President of Corporate Communications and Public Affairs said:

“At the end of the day, we will all go back to our core purpose— to help one another in times of need and indeed unlock our desired impact on the society as a whole.”

Chito Maniago – Head of Corporate Communications

GCash is all about breaking existing boundaries through efforts to democratize access to financial opportunities and lifestyle choices. Meanwhile, it makes sure that all these innovations and initiatives lead to a better and healthier community for all.

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