GCash empowers millions with innovative financial solutions

GCash empowers millions with innovative financial solutions

GCASH, the Filipino mobile digital financial service owned by Globe Fintech Innovations, Inc., disclosed in Globe Telecom, Inc.'s recent financial report on May 14, 2024, that it has over 4.5 million borrowers. 

The majority of these borrowers, who benefit from access to credit scoring through its GScore, are women from lower socio-economic backgrounds.

This achievement was made possible through innovative lending solutions including credit lines (GCredit), cash loans (GLoan), buy-now-pay-later (BNPL, through GGives), and the newly introduced microcredit starter loans (Sakto Loan and Borrow Load).

“By extending credit to more Filipinos in need, these products have been instrumental in advancing the company's vision of Finance for All” the statement read.

Globe's comprehensive suite of electronic cash continues to dominate the cashless ecosystem in the Philippines, with an active user base five times larger than its closest competitor, according to data from reliable third-party provider data.ai.

GCash boasts the largest network of social sellers both online and offline, with over six million partners and more than 1,000 merchant partners within its app called GLife.

The platform covers advanced financial systems including savings (via GSave), investments (via GFunds and the recently launched GStocks PH and GCrypto), and insurance products (via GInsure).

In pursuit of its mission to promote financial inclusion, GCash now accepts payments via GCash Global Pay in 47 nations, facilitating hassle-free international transactions in collaboration with Alipay+. Moreover, GCash Overseas allows Filipinos living abroad in 13 countries—soon to be expanded to 16—to manage their finances through the app.

The app allows users to register with their international mobile numbers for GCash and offers access to features such as buying loads, paying bills, and sending money.

GCash recently received recognition from the Asia-Pacific Stevie Awards for the Innovative Use of Technology in Customer Service and for Innovation in Digital Transformation. 

Additionally, Frost & Sullivan awarded GCash the Company of the Year Award for the Philippines' Financial Technology Industry, while Pan Finance named it the best mobile wallet in the country for 2024.

“These awards recognize GCash's pioneering use of digital solutions and innovative financial services and its strong overall achievements in the financial technology space,” the statement said. DEF


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