GCash brings PH to the global stage at the Singapore FinTech Festival

GCash CEO says e-wallet continues to grow even as the world opens up

Manila, Philippines, 8 November 2022 /PRNewswire/ — Fintech “double unicorn” GCash brings The Philippines to the global stage at the Singapore FinTech Festival (SFF) 2022, where it shared how it has stayed relevant and maintained its robust growth beyond pandemic shutdowns.

Along with other fintech leaders, GCash president and CEO Martha Sazon joined the panel session talking about “Navigating the Winds of Change in Digital Finance,” at the SFF Global Plenary. She was joined by other industry experts from Mastercard, Tencentand bKash with the panel moderated by Haslinda Amin from Bloomberg TV.

Before an international audience, Sazon said, “we were there when the customers needed us the most. We were there to distribute financial support to the constituents. We were also able to provide access to necessities when people were locked down. And in the process, we built trust because we were one of the few things that worked during the pandemic.”

Sazon also shared that while the GCash team was concerned that growth might slow as the world reopened, they were surprised to see that strong growth continued.

In fact, she added, GCash users are now becoming more attached to the platform after the e-wallet launched other use cases such as lending, investment, savings and insurtech.

But GCash does not stop there, as Sazon emphasized that the fintech company has more meaningful innovations in store to improve the daily life of its users and help them achieve their vision of “Finance for All”.

She added, GCash is focused on making its customers the “north star” so they can add more value to their services and create even more opportunities for growth.

“But the key is really knowing the needs, serving the customers’ needs, and as I’ve always told my team, ‘there’s really no incentive growth.’ So there’s now a shortcut to growth, you have to have a compelling proposition for the customers,” Sazon explained.

GCash is The Philippines only “double unicorn” with a valuation of above 2 billion dollars. It has evolved beyond its core money transfer business – offering other financial services to the country’s millions of unserved and underserved individuals. These include lending solutions, investment and insurance products, as well as other important products and services under their e-commerce platform, GLife.

It has also expanded further by offering partner marketing solutions, specifically AdTech, promo and identity solutions – all leveraging GCash’s growing user base, which at last count has already reached 69 million.

The Singapore FinTech Festival is now in its seventh year and is organized by the Monetary Authority of Singapore (MAS) and Elevandi. This year’s theme is “Building robust business models in volatility and change”. The event features more than 850 expert speakers and over 250 hours of content across the week-long programme. It is considered the largest gathering of its kind in the global fintech industry. The 2021 edition brought together 60,000 participants from over 160 countries.

About GCash

GCash (G-Xchange, Inc.) is the #1 Finance App in The Philippines. Through the GCash app, 69M registered users can easily buy prepaid airtime; pay bills at over 1,600 partner invoices nationwide; send and receive money anywhere in The Philippines, even to other bank accounts; buy from above 5.2 million partner merchants and social sellers; and access savings, credit, loans, insurance and invest money, and so much more, all using their smartphones. GCash is a wholly owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only duacorn in The Philippines.

GCash was recognized by The Asian Banker (TAB) and by IDC in 2021 for its outstanding digital financial inclusion programs.