𝐆𝐂𝐚𝐬𝐡: 𝟐𝟎 𝐲𝐞𝐚𝐫𝐬 𝐨𝐟 𝐭𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐯𝐞 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐢𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐡𝐢𝐥𝐢𝐩𝐩𝐢𝐧𝐞𝐬

 𝐆𝐂𝐚𝐬𝐡: 𝟐𝟎 𝐲𝐞𝐚𝐫𝐬 𝐨𝐟 𝐭𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐯𝐞 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐢𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐡𝐢𝐥𝐢𝐩𝐩𝐢𝐧𝐞𝐬

 GCash empowers MSMEs like wet market vendors by providing them with digital financial tools that enable them to earn more, grow their business, and leverage opportunities to make money work for them.  

𝐌𝐀𝐍𝐈𝐋𝐀, 𝐏𝐡𝐢𝐥𝐢𝐩𝐩𝐢𝐧𝐞𝐬, 𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟏𝟖, 𝟐𝟎𝟐𝟒 – GCash, the Philippines' leading finance super app and cashless ecosystem, marks a key milestone in its journey towards driving digital financial inclusion as it celebrates its 20th anniversary this year.

In the early 2000s, Globe Telecom had a vision of sending money via SMS, which at that time was unthinkable to many Filipinos—until GCash was born. Launched in 2004, GCash began as the SMS money transfer service of Globe Telecom.

After two years, GCash recorded its first 1 million users. GCash then innovated its services to empower overseas Filipino workers, introducing a domestic remittance across over 18,000 outlets through GCash Remit in 2010. GCash also came out with a customizable GCash card in 2010.

It was in 2012 when GCash turned into the app that is now widely used and loved by millions across the country. As the Philippines' first e-wallet mobile app, GCash had the capability for money transfer, load, and bills payment. The rest is history.

𝐏𝐨𝐰𝐞𝐫𝐢𝐧𝐠 𝐮𝐩 𝐢𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧𝐬

Fueled by the drive to serve even more Filipinos, especially the underserved and unserved, GCash had undergone changes and significant investments through the years. In 2015, GCash's parent company Mynt was established, as a fintech start-up partnership among Globe Telecom, Ayala Corporation, and Ant Financial. In 2017, GCash partnered with Ant Financial, which enabled GCash to release the Philippines' first-ever mobile money QR payment.

Being at the forefront of innovation, GCash has constantly been introducing more financial services for Filipinos beyond payments and transfers. In 2019, it introduced GSave for savings, GCredit for lending, and GCash Invest Money (now GInvest) for investments.

To date, there are now 10.9 million GSave users. Moreover, GLoan, GCash's lending service, has disbursed more than Php155 million worth of loans for 5.4 million Filipinos. Meanwhile, GInvest has redefined investing for many Filipinos. GCash drove an 11% growth in accounts at the Philippine Stock Exchange, with one out of five PSE accounts coming from the finance app.

GCash has evolved from being a provider of digital payment services into a full-blown platform with a wide suite of financially-inclusive products for all Filipinos, and a leader in sparking change in the fintech sector.

𝐆𝐅𝐨𝐫𝐞𝐬𝐭 𝐧𝐨𝐰 𝐭𝐡𝐞 𝐏𝐡𝐢𝐥𝐢𝐩𝐩𝐢𝐧𝐞𝐬’ 𝐛𝐢𝐠𝐠𝐞𝐬𝐭 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐞𝐜𝐨-𝐦𝐨𝐯𝐞𝐦𝐞𝐧𝐭

GCash has evolved into an active player on climate action, going beyond being a provider of digital financial services. In 2019, GCash launched GForest, which enables users to collect and use 'green energy’ points to plant virtual trees, which will then be converted into actual trees on their behalf. GForest has since grown into the country’s biggest digital eco-movement with more than 2.8 million trees planted across the country, supporting the livelihood of local communities.

 GCash helps members of underserved sectors like local farmers to be ready for emergencies by giving them easy access to fair and non-collateralized loans.  

'𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐅𝐨𝐫 𝐀𝐥𝐥'

When the COVID-19 pandemic struck in 2020, most businesses’ operations were disrupted. As the Philippines grappled with contactless interactions and stringent lockdowns, GCash shaped the digital payments landscape as it is known today. It became a lifeline and life hack for millions of Filipinos. GCash partnered with the government to enable the disbursement of cash assistance to those who needed it the most, totaling Php16 billion.

As of 2023, GCash has 94 million users, including demographics that are traditionally unbanked, underbanked, and underserved, such as women in local communities, farmers, fisherfolk, wet market vendors, tricycle drivers, among others. This demonstrates GCash's commitment to meaningful and responsive services for all Filipinos in line with the vision of Finance For All.

 GCash commits to equip Filipinos with easily accessible financial tools such as GSave, GFunds, GStocks, and GInvest, to help them build a brighter and better tomorrow.

GCash is now accelerating its overseas expansion. This year, GCash announced the availability of GCash Overseas to Filipinos in 16 key markets globally. With GCash Overseas, Filipinos in the United States, Canada, the United Kingdom, Spain, Italy, Germany, Qatar, Kuwait, Japan, South Korea, Taiwan, Singapore, Hong Kong, and Australia can now download and use the GCash app, whether they have Philippine SIMs or local mobile phone numbers in the countries or territories where they live.

With this growth, GCash has emerged to become the first-ever $5 billion unicorn in the Philippines, backed by Ayala Corporation and Mitsubishi UFJ Financial Group. GCash continues to make history throughout the years in the fintech space.

"We are part of the every day of every Filipino," GCash President and CEO Martha Sazon, acknowledging GCash users at the company’s 20th anniversary celebrations. "Thank you for all the support and the partnership. We promise to give you the service that you deserve, and we will support you all the way."

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𝐀𝐛𝐨𝐮𝐭 𝐆𝐂𝐚𝐬𝐡

GCash is the Philippines’ #1 Finance Super App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. Its mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only $5 billion unicorn in the Philippines.

GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.

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