Articles worth reading
Valenzuela Disiplina Village / PIO Valenzuela

750 Valenzuela residents given housing 

account_balanceValenzuela access_time4 days ago

Some 750 families residing in Valenzuela City’s danger zones are set to move in the "Disiplina Village Lingunan," a government housing project for informal settler families (ISFs), according to a report by Philippine News Agency. The...

Photo by Adrian Portugal/Rappler

Back in form, Saso stalks Korean with 70

account_balanceMetro Manila access_time4 days ago

Five tournaments without a shot at the crown proved to be too long a spell for two-leg winner Yuka Saso, who conjured up memories of her past exploits to shoot a 70 and trail in-form Korean Bae Seon Woo by two after 18 holes of the Fujitsu Ladies 202...

DA provides loan for women farmers 

account_balanceMetro Manila access_time4 days ago

The Department of Agriculture (DA) launched a credit program exclusive for women in the agriculture industry, according to a report by Philippine News Agency. “This is a way to pay tribute to our rural women who we owe our food security to. De...

Metro News

Cashless transactions increase

account_balanceMetro News account_circleJames Lopes chat_bubble_outline0 Comments

The global COVID-19 pandemic has disrupted the way Filipino do commerce as more of our kababayans are opting to pay for their purchases using digital payment options, with GCash as the preferred mobile wallet. Data collected since most of the county was placed under an Enhanced Community Quarantine in mid-March showed GCash as the top finance app for both Android and iOS devices, reflecting the growing reliance of people on digital finance for the management of their personal finances.

As of May 15, GCash was the only finance app in the top 10 list of free applications for Android. It also ranked fourth on the overall list of free mobile apps in Google Playstore. For iOS, GCash topped the finance division in the App Store and ranked second after Zoom Cloud Meetings on its free apps list. This shows how GCash has transformed from a convenient mobile wallet to a lifestyle app that enables Filipinos to do more with less, as they embrace the new normal.

“The national health situation has caused more Filipinos to be mindful of their personal finances. As a powerful tool that provides financial services to the masses, GCash is enabling its users to manage their personal finance better than traditional means,” GCash Chief Technology and Operating Officer Pebbles Sy said.

A white paper released by AdSpark, Inc., a portfolio company under Globe Telecom’s 917Ventures, showed that 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.

Global Web Index, which surveyed people on how they foresee the impact of the situation on their personal finances, found that 65 percent of Filipinos surveyed believed that the pandemic will have a huge impact on their personal finances, while 15.7 percent believe that the effect could be even greater.

“Due to uncertainties brought about by the national health situation and the limitations set by the government to help curb the spread of the virus, Filipinos are looking for various ways to address their personal finance concerns. GCash is here to provide them with the necessary financial tools and services that will help them in managing their finances,” Sy said.

As a mobile wallet, GCash allows users to pay for their digital and physical transactions through the GCash app. GCash also allows users to pay their bills, buy airtime load, and transfer funds to any GCash account or to other banks.

Users may also avail of GCash’s savings service, GSave, which offers better-than-industry interest rates; GCredit, which allows them to tap into a credit line for emergencies; invest in money market funds; and GCash Insurance, which allows them to avail of very affordable insurance plans.

“We have seen a huge growth in terms of volumes of transactions in our platform during the community quarantines. We saw people transacting with merchants physically through QR and Barcode and digitally through money transfers. We also saw a lot of people donating to causes, one of which is our native fundraising drive called #FightCOVID19. Our platform has empowered more people in taking care of their personal finances,” Sy said.

GCash saw app installations grow by 2x during the community quarantine, while registrations rose by 2.5x, and app referrals increased by another 2x.

“This is a reflection of how Filipinos are growing more trusting of digital finance, which we believe will be a huge player in implementing the so-called ‘new normal.’ Financial technology will serve as the bedrock of digital services — those that will empower Filipinos to do more with less,” Sy 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.


date_rangeDate Published
5 months ago
shareShare article
folder_openArticle tags
content_copyCategorized under

Share your thoughts with us

Related Articles

photo: olympicchannel.com

Saso upbeat as Fujitsu Ladies fires off Friday

account_balanceMetro Manila chrome_reader_mode5 days ago

For Yuka Saso, doing good the last round doesn't necessarily mean an equally fine start in another but the Fil-Japanese ace brims with confidence as she launches her drive for a third LPGA of Japan Tour crown in the Fujitsu Ladies 2020 which gets...

Photo Courtesy of DENR NCR

Manila gets bamboo saplings from DENR

account_balanceManila chrome_reader_mode6 days ago

The Department of Environment and Natural Resources-National Capital Region (DENR-NCR) donated bamboo saplings to Manila to help boost the city's green spaces, according to a report by Philippine News Agency. DENR-NCR regional executive dir...

Chief Justice Diosdado M. Peralta receives DENR report on Manila Bay; leads visit and site inspection of Manila Bay pursuant to the continuing mandamus of the Supreme Court / SC Public Information Office

Supreme Court gets DENR report on Manila Bay 

account_balanceMetro Manila chrome_reader_mode6 days ago

Supreme Court Chief Justice Diosdado M. Peralta, together with Department of Environment and Natural Resources (DENR) Secretary Roy Cimatu, led the visit and site inspection of the Manila Bay pursuant to the continuing mandamus of the Supreme Court. ...

The struggles in 2020 of the casino industry in the Philippines

account_balanceMetro Manila chrome_reader_mode1 month ago

Do you want to learn more about the challenges and predictions for the gambling industry in the Philippines? Find all answers in this article!

Let's Stay Connected Like us on our Facebook page.
×
Click on the article to continue reading
Makati donates P93 million worth of firearms, protective gear to PNP 46% of Filipinos seek more gov't aid MRT, LRT lines increase passenger capacity PAL welcomes lifting of ban on non-essential travel DOH to prioritize vulnerable groups in vaccine program LTO releases new motorcycle plates Send Press Release MNC Facebook Page MNC Twitter Page MNC Instagram Page LGU Spotlight Barangay Front Business Sports Entertainment Metro Gen Metro Feature