𝐁𝐒𝐏 𝐚𝐧𝐝 𝐀𝐓𝐑𝐀𝐌 𝐞𝐱𝐩𝐚𝐧𝐝 𝐏𝐄𝐑𝐀 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐚𝐜𝐜𝐞𝐬𝐬 𝐰𝐢𝐭𝐡 𝐆𝐂𝐚𝐬𝐡 𝐬𝐮𝐩𝐩𝐨𝐫𝐭

BSP together with reps from GCash and ATRAM - Mark Recto

𝐁𝐒𝐏 𝐚𝐧𝐝 𝐀𝐓𝐑𝐀𝐌 𝐞𝐱𝐩𝐚𝐧𝐝 𝐏𝐄𝐑𝐀 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐚𝐜𝐜𝐞𝐬𝐬 𝐰𝐢𝐭𝐡 𝐆𝐂𝐚𝐬𝐡 𝐬𝐮𝐩𝐩𝐨𝐫𝐭

𝙒𝙞𝙩𝙝 𝙩𝙝𝙚 𝙡𝙖𝙩𝙚𝙨𝙩 𝙞𝙣𝙣𝙤𝙫𝙖𝙩𝙞𝙤𝙣 𝙛𝙧𝙤𝙢 𝙩𝙝𝙚 𝘽𝙖𝙣𝙜𝙠𝙤 𝙎𝙚𝙣𝙩𝙧𝙖𝙡 𝙣𝙜 𝙋𝙞𝙡𝙞𝙥𝙞𝙣𝙖𝙨, 𝙢𝙞𝙡𝙡𝙞𝙤𝙣𝙨 𝙤𝙛 𝙁𝙞𝙡𝙞𝙥𝙞𝙣𝙤𝙨 𝙘𝙖𝙣 𝙣𝙤𝙬 𝙤𝙥𝙚𝙣 𝙖 𝙧𝙚𝙩𝙞𝙧𝙚𝙢𝙚𝙣𝙩 𝙨𝙖𝙫𝙞𝙣𝙜𝙨 𝙖𝙘𝙘𝙤𝙪𝙣𝙩 𝙫𝙞𝙖 𝘼𝙏𝙍𝘼𝙈, 𝙪𝙨𝙞𝙣𝙜 𝙂𝘾𝙖𝙨𝙝 𝙖𝙨 𝙖 𝙨𝙞𝙜𝙣𝙪𝙥 𝙤𝙥𝙩𝙞𝙤𝙣.

The Bangko Sentral ng Pilipinas (BSP) enables more Filipinos to easily sign up for the government’s voluntary retirement savings program called Personal Equity and Retirement Account (PERA), with its integration to the Open Finance Pilot in the Philippines.

The voluntary retirement savings plan offers tax perks, investment options, and long-term financial security for account holders. It is designed to allow local contributors to invest up to P200,000 per year (P400,000 for Overseas Filipino Workers) and enjoy a 5% income tax credit on these contributions, with their investments growing tax-free until retirement.

GCash Representative Winsley Bangit - Mark Recto

As part of the first phase of BSP’s Open Finance pilot, several financial institutions have come together to explore more inclusive ways of improving the PERA account opening process. Among initial participants are PERA Administrator ATRAM and e-wallet platform GCash, whose strong collaboration is paving the way for a more accessible PERA onboarding experience.

Fully verified GCash users can now open a PERA account more quickly and easily by consenting to share their information with the PERA Administrator. ATRAM, a leading independent asset and wealth manager in the country, is the first participating administrator for the pilot program.

In the past, those interested in creating their own PERA had to complete a lengthy account opening process with manual paperwork requirements.

Commencing with PERA, the Open Finance Project is a collaboration among financial institutions under the central bank’s framework. The initiative aims to explore how banks and other financial services providers can work more closely together to improve the ease of accessing financial services for more Filipinos.

“GCash supports the agenda of the Bankgo Sentral ng Pilipinas to strengthen financial inclusion,” said GCash Vice President and Group Head for New Businesses Winsley Bangit. “By helping democratize access to investment and savings products like PERA, we can help more Filipinos plan for their future and take advantage of more rewarding opportunities with ease.”

m360 Taxpayers Award 

“This pilot reflects our ongoing commitment to improving access to long-term financial solutions like PERA,” said Deanno Basas, Chief Experience Officer of ATRAM. “By working with BSP and platforms like GCash, we’re making the process of starting a PERA more straightforward and aligned with how Filipinos manage their finances today towards their financial future.” said ATRAM Chief Experience Officer, Deanno Basas.

GCash joined the multiparty framework created by the BSP to ensure compliance throughout the Open Finance PH Project in July 2024.

For more information, visit the Help Center.

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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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