GCash, the premier finance super app of the Philippines, showcased its enhanced international services during the esteemed Singapore Fintech Festival 2023. CEO Martha Sazon and Mynt Chairman Ernest Cu took the stage to unveil the app’s latest feature, allowing users to access real-time foreign exchange rates in select countries like Singapore, Japan, and the USA.
Sazon emphasized that GCash’s new capability empowers Filipino travelers and overseas residents with financial parity, enabling them to utilize the app for seamless payments in stores accepting Alipay+ or card transactions. This initiative broadens GCash's global presence, facilitated by its collaboration with Alipay+ that enables cashless transactions in 17 countries and facilitates sign-ups for international users in six countries.
Through strategic partnerships, such as the one with Visa, GCash facilitates cashless transactions across 200 countries at over 80 million merchant locations. The introduction of the GCash Card, accessible through the app, further amplifies the ease of transactions, enabling users to pay via QR code scanning or code generation in Alipay+-compatible establishments.
Beyond its international strides, GCash is fortifying its services for enterprise customers, recognizing the significance of the business-to-business landscape. Sazon emphasized the necessity to address existing friction points in this sphere for a more impactful engagement.
In addition to offering digital financial tools for enterprises, GCash extends partner marketing solutions to businesses of varying scales, harnessing the app’s extensive user base. It focuses on aiding nano, micro, small, and medium enterprises (NMSMEs) in their digital transformation, furnishing innovative business solutions.
Sazon’s participation in the panel discussion at the Singapore Fintech Festival delved into the narrative of "Building Unicorns: An ASEAN Success Story." Alongside Mynt's Chairman Cu and the President and CEO of Globe Group, they explored insights on industry growth, moderated by Ryan Huang from Singapore’s MONEY FM 89.3.
As the Philippines' only double unicorn, valued at over $2 billion, GCash has evolved beyond its initial money transfer services, offering a spectrum of financial solutions encompassing fair lending, investment, insurance, and lifestyle services.
The Singapore FinTech Festival stands as a pivotal global industry congregation, attracting leaders and participants worldwide. Organized by Elevandi, a non-profit entity under the Monetary Authority of Singapore (MAS), the festival serves as a nexus for innovation and collaboration within the fintech realm.