GCash, the leading Finance Super App in the Philippines, has achieved a massive milestone with over 79 million users relying on their platform for fast, secure, and convenient financial transactions online. According to Data.ai, a reputable third-party platform, GCash is the country’s number one Finance Super App, with the highest number of downloads, monthly active users, and daily active users. Filipinos have integrated GCash into their daily routine, relying on its comprehensive services for their financial needs.
Originally launched as an SMS platform in 2005 and later as a super app in 2012, GCash was the first in the country to introduce the QR payment system. It supported the transition to digital payments for Filipinos during the pandemic, and now, with the world reopening, it continues to expand its services to meet the changing needs of Filipinos in a global digital financial landscape.
At the recent #GCashFutureCast event, GCash unveiled ten groundbreaking innovations designed for every Filipino, marking a significant step towards the future of Fintech.
Tools for financial freedom
GCash continues to innovate and make financial products more accessible to Filipinos. In addition to their existing wealth management products such as savings, insurance, and investments, they are now introducing new products that aim to help people grow and protect their wealth.
AB Capital Securities, Inc. has collaborated with GCash to bring GStocks PH, an online retail securities trading service, to the GCash app. The simplified and user-friendly interface was designed in partnership with the Philippine Stock Exchange, enabling users to trade stocks of over 280 local companies. GStocks PH will soon be available to more users, expanding access to online trading services.
GCrypto offers an avenue for users to delve into the world of cryptocurrency and NFTs. Through GCrypto NFT Hub, users can access carefully selected NFT collections, such as the House of OhLala by renowned Filipino contemporary artist, Reen Barrera. Additionally, buying and selling cryptocurrencies is now more convenient with an exchange powered by PDAX, the Philippines’ top domestic cryptocurrency exchange.
For only P34, GCash users can now enjoy 60 days of coverage for up to P20,000 with GInsure Online Shopping Protect insurance, which covers all their online purchases. The insurance product is designed to protect users in scenarios such as undelivered orders, accidental damage, incorrect product descriptions, and theft. The insurance is provided by Chubb and is integrated into the user’s online GCash payment journey, available on 1,500 online shops and platforms.
GCash’s services are now available to Filipinos traveling abroad, allowing them to go cashless globally. With the newest features, overseas Filipinos can also use GCash to send money and support to their families back home.
GCash is expanding its reach globally with the introduction of GCash Global Pay. This service enables Filipino travelers to make cross-border QR payments at Alipay+ merchants located in Singapore, Malaysia, Japan, South Korea, Qatar, Germany, Italy, France, and the United Kingdom. With this new feature, GCash users can avoid the inconvenience of carrying cash or incurring high service fees for ATM withdrawals. GCash Global Pay offers real-time Forex charging without any service fees. Additionally, overseas Filipinos can now use GCash to send money and support to their families back home.
The upcoming GCash Card provides travelers with the benefit of real-time Forex charging at competitive exchange rates and without any service fees. This feature allows users to access their funds seamlessly with a single tap at over 100 million shops in more than 200 countries and territories worldwide through VISA’s vast network. With this, travelers can enjoy hassle-free shopping and dining experiences wherever they are. The GCash Card is set to be released later this year.
GCash Overseas makes it possible for Filipinos residing in Japan, Australia, Italy, and the USA to download the GCash app using international SIM cards, allowing them to easily send money, purchase load, and pay bills for their loved ones back home. With GCash to GCash transactions, they can send money for free and avoid remittance fees. GCash has recently expanded to the UK and Canada, providing more options for overseas Filipinos. Although currently in beta and limited to a select number of users, GCash Overseas will be made available to more users soon.
Borrowing made easier
GGives by GCash enables Filipinos to make purchases on a buy-now-pay-later basis with no credit cards, additional documents, down payments, and zero interest at selected merchants. This removes the usual hurdles associated with installment plans for both online and in-store purchases.
Moreover, eligible users can now access their preferred entertainment even when short on budget through Borrow Load, which allows them to borrow their favorite load promos at zero cash out. These load promos are valid for up to 7 days, enabling them to access data-heavy apps. Borrow Load will be made available to more users soon.
Improved security and user experience
GCash has announced two new features to improve transaction safety and ease of use:
GChat is a messenger feature that simplifies chatting and transactions with contacts. Users can share receipts instantly and trace transaction histories, and search for conversations with friends, merchants, or customers. The feature includes Gigi and Advisories for real-time assistance. GChat will be available to users in the coming months.
DoubleSafe is a new security feature that provides an extra layer of protection against account takeover. It adds an additional level of security beyond the mobile pin (MPIN) and 2-Factor Authentication. When users log in to a new mobile device, DoubleSafe will activate facial recognition to secure their account if they mistakenly share their MPIN and OTP with fraudsters.
At the FutureCast event, GCash CEO Martha Sazon emphasized the app’s ability to empower and enable Filipinos to pursue progress. With these 10 new innovations, she said, GCash is positioned to be the go-to finance super app for everyone’s future needs.
