[FEATURING] GCash expands services, apps
Financial app GCash broadened its platform as it introduced new products and services geared towards lifestyle, entrepreneurship, financial services and social impact.
In a virtual briefing on Wednesday, GCash President and Chief Executive Officer Martha Sazon said the e-wallet saw an almost doubled user base from more than 20 million in January last year to over 40 million to date.
She also noted that active users currently use the app more than two times daily.
“We want to 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, have an equal chance to achieve their dreams,” Sazon said.
One of the new financial services that GCash offers is GInvest, which allows users to invest in professionally managed local and global funds for as low as P50.
GCash likewise has a money management feature through its fully digital savings account,
GSave, built in partnership with CIMB Bank.
GInsure, on the other hand, provides insurance services for medical emergencies and accidents. It also offers financial assistance through Cash For Medical Costs and Cash For Income Loss.
GCash also has a personal credit line available within the app through GCredit.
“We aim to break down barriers of entry for Fillipinos and make them realize that saving, investing or even insuring one’s finances can be accessible to all,” GCash head of Financial Services and Advanced Analytics JF Darre said.
The e-wallet also launched an e-commerce feature, GLife, which currently features more than 25 brands across retail, food, gaming, entertainment and transport.
As a bid to enhance security and mitigate the risk of wrongly sending money, GCash also introduced GCash QR on Demand for entrepreneurs.
GCash said they are also set to launch the GPadala service to enable overseas Filipino workers to send money to non-GCash users for cash pick up anywhere nationwide.