GCash President and CEO Martha Sazon was recognized as a Master Innovator for Digital Transformation Innovation during the recent 2nd Annual Mansmith Innovation Awards and Summit. Mansmith and Fielders Inc. is an advocacy-based training and consultancy firm.
Sazon was recognized for helping create innovative digital products and services to improve the lives of Filipinos. Sazon joined other business leaders who were also recognized, namely Bounty Agro Ventures, Inc. President Ronald Mascariñas, Cebuana Lhuillier Group of Companies CEO Jean Henri Lhuillier, and Converge-ICT Chairman and CEO Dennis Uy.
During the summit, Sazon shared insights on how GCash was able to drive successful innovations by quickly responding to the demands of customers. She attributes GCash’s exponential growth to introducing relevant fintech products driven by the powerful insights from its customers.
“At GCash, we believe in innovation for good, driven by the real needs of our customers. We look to our customers as our guide, our North Star as we push for financial inclusion. Our contributions in the individual lives of our users add up to a snowball effect that creates meaningful waves of impact in the country,” said Sazon.
Meanwhile, in his opening remarks, Mansmith and Fielders Inc. Chairman and Chief Innovation Strategist Josiah Go acknowledged the hard work that comes along with innovating and thriving, especially during difficult times.
“The pathway to innovation is not easy. The path to creating something not just new but also successful and sustainable is no easy task. However, a little difficulty doesn’t stop people from innovating. In fact, oftentimes, it becomes a driving force for innovation,” he said.
To address the pain points of the unbanked and underserved Filipinos, GCash introduced breakthrough financial services such as GSave for a savings account, GInvest for easy access to local and global funds for as local as P50, and GInsure for insurance in times of emergencies.
“At GCash, we’re changing the mindset that financial services are only for the wealthy by making our digital products more accessible, affordable, and easy to understand,” said Sazon.
Sazon added that GCash wants to help address another concern of unbanked Filipinos – that of having money readily available whenever they need it, especially during emergencies. GCash is helping address this with products such as GCredit, GLoan, and GGives. GCredit has already provided more than 1 million users with accessible credit lines while GLoan, as a quick cash loan, offers affordable and fair rates versus informal lenders. GGives is a buy now, pay later proposition to provide credit to more than 2 percent of the population with accessible installment options.
Aside from these innovations, GCash has also been bringing its services to the grassroots level through microenterprises, which Sazon referred to as the “key to reaching financial inclusion.” which is the company’s vision. With GCash Pera Outlet, sari-sari stores act as hubs for GCash services for their community while helping the small store owners earn extra income and livelihood opportunities.
Sazon also noted that the company has been beefing up its financial literacy campaigns while educating users how GCash services can help them manage their finances and eventually help them achieve financial freedom.
With GCash’s innovative services and innovators like Sazon, GCash is moving closer to achieving its vision of “Finance for All.”
For more information, visit www.gcash.com.
GCash, Sakahon Empower Agricultural Sector Through Affordable, Convenient Loans for Farmers in Floridablanca, Pampanga
With its clear vision to promote financial inclusion and digital adoption for all Filipinos, GCash, the country’s leading mobile wallet, has launched a pilot Farmer Loan initiative which aims to empower and improve the financial literacy and capabilities of the agricultural community in Floridablanca, Pampanga.
The launch was done in collaboration with Sakahon, an award-winning agritech social enterprise that enables farmers to analyze and use data to know what the market needs ahead of time.
GCash assisted over 30 partner farmers in creating their own accounts to allow them to avail of quick and easy cash loans offered by GCash’s credit affiliate, Fuse Lending. Likewise, the farmers were introduced to other GCash services like Send Money, Pay QR, as well as savings and investment solutions.
Nanay Gemma is among the first Filipino farmers who will benefit from these digitally inclusive loans. She said in Filipino, “this program of GCash will enable us to transact faster. We don’t need many documents and no more long lines. We are grateful for this opportunity so that we are better connected to the market and to the digital world.”
Through this initiative, farmers can easily avail of additional capital for their crops through GLoan; save money and enjoy interest rates as high as 7.2% per annum through GSave; grow their money by investing in a market fund with GInvest; and protect themselves and their families by getting insured through GInsure.
“Thanks to our partnership with Sakahon, we’re making sure every Filipino, especially our farmers, have access to affordable and safe loans, helping improve their livelihood and the lives of their families,” said Tony Isidro, CEO of Fuse Lending. “As the Philippines grapple with food security issues, it’s now more important than ever to support our farmers and empower them with innovative digital financial solutions.”
Elaine Timbol, CEO of Sakahon also highlighted, “GCash has been instrumental in bridging the gap between farmers and more affordable formal loans. Through this program, we hope to have a meaningful and lasting impact on the lives of our farmers, as we help them secure their financial future. Through financial literacy programs and bringing formal financial services closer to farmers, not only will their families benefit, but also the Philippine economy, which has been suffering from a stagnant agricultural sector.”
With over 71 million registered users to date, GCash has been tirelessly working to democratize access to important financial services like formal lending through GLoan, GGives, and GCredit.
#GCash #GrabPhilippines Join Forces for More convenient Direct Cashless payment Option
Grab users can use GCash to pay for the leading superapp’s services by February
Paying for your ride and food orders will soon be easier and hassle-free as the country’s leading mobile wallet GCash partners with Grab Philippines, the country’s leader in transportation and deliveries.
The landmark partnership will give Grab users access to the easiest, most convenient, and secure cashless transactions when they add GCash as a direct payment method on the Grab app. GCash will be officially available as a mode of payment on the Grab platform by February.
Through this partnership, users can simply choose GCash as their payment method, and pay cashless for GrabCar, GrabFood, GrabMart, GrabExpress and other Grab services with just a few taps on their smartphones. Moreover, this partnership enables users to avoid transfer fees which go as high as Php 50.
“With this partnership, we once again realize our commitment to make the lives of Filipinos better each day by delivering a more convenient, secure, and cost-efficient way to pay for their rides and food and grocery deliveries. We look forward to this partnership and we will continuously innovate and build more
To make their cashless transactions more convenient and rewarding, customers of Grab also get to avail of GCash exclusive deals, and get special treats when they pay for their transactions using GCash.
Country Head of Grab Philippines Grace Vera Cruz shared, “Grab Philippines is dedicated to empowering our stakeholders in a digital-first economy, and key to this is driving a deeper and wider cashless adoption in the country. With more Filipinos transacting via cashless means, we are accelerating our prospects of digital transformation. We look forward to collaborating with like-minded partners such as GCash on this agenda, and we are optimistic that through this partnership, we can improve the lives and livelihoods of many of our kababayans, while building a cashless, digital-first economy for all Filipinos.”
Grab is Southeast Asia’s leading superapp for ride hailing, food delivery, and on-demand grocery delivery. It touts strong foothold in markets like the Philippines, Thailand, Singapore, Malaysia, Indonesia, and Vietnam. Prior to this development, GCash and Grab have already established a strategic collaboration. Their initial partnership has provided Filipinos safe, seamless, and secure digital experience by allowing users to transfer money from their GCash wallet to their GrabPay wallet, and vice-versa.
Building on GCash and Grab’s shared mission of addressing Filipinos’ daily needs, this partnership also helps in creating a more cash-lite and digitally driven economy.
As part of its vision of achieving “Finance for All”, GCash will continue to innovate and establish partnerships to offer affordable, convenient and safe services – making Filipino lives better every day and beyond, in the new normal.
#GCash Beefs up User Protection with Certification from Int’l Data Security Standards Firm
The leading mobile wallet is now Payment Card Industry Data Security Standard certified
GCash, the country’s leading mobile wallet, recently achieved a compliance certification from the Payment Card Industry Data Security Standard (PCI-DSS), assuring every Filipino of the e-wallet’s commitment to the highest quality standards on data security.
PCI-DSS is a standard that is being administered by the Payment Card Industry Security Standards Council (PCI-SSC) which includes top global credit card brands such as MasterCard, Visa, American Express, JCB International, and Discover Financial Services
The standard ensures that all companies which accept, process, store, or transmit credit/debit cardholder information maintain a secure environment to protect customers. Compliance is validated annually by an external Qualified Security Assessor (QSA) such as ControlCase Inc., a global provider of certification, cybersecurity, and continuous compliance services, which also conducted the assessment of GCash.
“This certification is a testament to our commitment of adhering to only the highest standards in safety and security. This is proof that, at GCash, we take data privacy and cybersecurity very seriously, as it is one of our key pillars in ensuring our customers have the best experience when they use our services. GCash will continue to pursue more global industry best practices to better serve our 71 million customers,” GCash President and CEO Martha Sazon said.
The formal awarding ceremony was held at the GCash headquarters. It was attended by key officials of the company as well executives from Globe Group, the parent firm of Mynt which operates GCash.
The ceremony was also graced by ControlCase president Suresh Dadlani and its head of business development Michelle Mascardo. Also present at the event were project team members from GCash’s Information Security Group, Technology and Operations, along with other business support teams.
As it continues to expand its services and reach more unserved individuals, GCash remains steadfast in boosting the app’s safeguards while continuously strengthening its sense of accountability, ethics, and compliance to further improve customer’s experience and provide them safe, secure, and more convenient digital financial solutions.
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