IN RECOGNITION of its positive impact on the lives of over 66 million Filipinos, GCash, the Philippines’ leading mobile wallet, has been awarded the Philippine Technology Excellence for e-wallet under the Financial Technology category in the prestigious Asian Technology Excellence Awards.
“While we at GCash are humbled by this recognition, we are not one to rest on our laurels. This only strengthens our resolve to continue pursuing our goal of empowering Filipinos through meaningful digital financial services,” shared GCash President and Chief Executive Officer Martha Sazon.
GCash was given the accolade for creating innovative digital products and services that greatly improved the lives of Filipinos and for its quick response to the needs of its customers, especially during the pandemic. It has served as a lifeline for many who lost their jobs because of the lockdowns. GCash helped numerous micro, small, and medium enterprises (MSMEs) build and sustain their businesses despite pandemic restrictions through its no-contact payment options.
Government assistance funds for the Social Amelioration Program (SAP) were also distributed via GCash with over P16 billion received by more than 2 million recipients.
“In pursuit of our goal of reaching millions of unbanked and underserved, GCash made it possible for ordinary Filipinos to access safe, secure, and convenient financial services such as send money, bills payments, savings, loans, insurance, and investments,” said Sazon. “That’s why It is no surprise that four out five adults in the Philippines now have a GCash account.”
By providing digital services and minimizing the need for on-site processing, GCash also helps Filipinos lessen their carbon footprint and fight climate change. Moreover, GForest, an in-app feature that converts every transaction into GEnergy, can be used to plant actual trees – allowing users to be a part of reforestation efforts. As of 2021, GCash, together with its GForest partners, has planted 1 million trees nationwide, which not only helps the environment but also prevents heavy flooding and reduces the damage of typhoons in the country.
In line with its mission to make every Filipino’s life better every day, GCash also enables an estimated 1.77 million Overseas Filipino Workers to send financial support to their families in the Philippines with various affordable remittance options. The company continuously adds remittance platforms, billers, merchants, and other partners to offer OFWs more convenient ways of sending money back home. Through GCash, Filipino workers worldwide can also save and invest, all on a single platform.
With its rapid growth, GCash now aims to go beyond its core financial service offerings, extending the app’s capabilities to fit the lifestyle of users, empowering businesses and entrepreneurs from micro to large, and expanding the app’s ecosystem through partnerships with other institutions.
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