WITH the popularity of online transactions, mobile wallet app GCash said it now has 40 million users and it is adding more financial and lifestyle services to hook consumers on using its app.
GCash now allows its users to shop, save, invest, get insurance coverage, and more — all within the GCash app.
One in three Filipinos is said to be using GCash. Its user base has grown from 20 million in January 2020 to 40 million users to date, reflecting the boom in e-commerce.
“We want to make a real difference in the lives of every Filipino and break the existing boundaries to enable financial freedom. We envision a Philippines where people have equal access to financial opportunities and lifestyle choices, where everyone, whether rich or poor, has a chance to unlock and achieve their dreams,” Martha Sazon, president and chief executive officer of GCash, said.
New products
One of GCash’s new features is GInvest, a new easy investment feature found in the GCash app that allows one to invest for as low as P50 in professionally managed local and global funds.
Those looking for affordable coverage can also turn to GInsure where they can get insurance for medical emergencies such as dengue, Covid-19 and accidents for as low as P300. With this, consumers can also get financial assistance via “Cash For Medical Costs” and the recently launched “Cash For Income Loss” due to any cause — all accessible through GInsure.
For easy money management, GCash also added GSave, the fully digital, secure and hassle-free savings account that was built in partnership with CIMB Bank, wherein the only requirement to open an account is a valid ID and a smartphone. The feature is fully accessible once the account is created. It has no maintaining balance, no fees and no initial deposit.
Another new feature is the GCredit that serves as a fully verified user’s personal credit line within the app. It has the ability to provide users with high GScores, up to a P30,000 credit line and up to three percent prorated interest rate.
GCash also unveiled GLife, an e-commerce feature that allows users to shop and avail themselves of exclusive deals from a wide array of merchants. Users can enjoy deals from more than 25 brands across retail, food, gaming, entertainment and transport. (JOB)