The Philippines’ leading financial app, GCash and international money transfer service, Sendwave strengthen their partnership to help Overseas Filipino Workers (OFW) and their families access remittance options with zero transaction fees and affordable exchange rates.
GCash head of international remittance Jules Abalos said that this partnership with Sendwave is one way to help address the needs of OFWs and their families back home and empower them to take control of their finances in a safe, secure, and more convenient way. Through the Sendwave app, OFWs can securely send money back home directly to a family member’s GCash app – without the need to fill out forms, line up, or leave to go to a bank or remittance center.
“We all know how big the contribution of OFW remittances is to the economy, in fact in 2021 OFW remittances contributed 8.9% to our GDP, and through our international remittance product, we have made it easier, safer, and more affordable for OFWs to send money back home to their loved ones in the Philippines,” said Abalos.
Serving as a lifeline to many Filipinos abroad and their families back in the Philippines, GCash now has over 5.2M partners for QR merchants and social, sellers, over 339k Cash-In, Cash Out (CICO) outlets, and over 520 GLife partner merchants – furthering its goal to reach the underserved communities in the country in pursuit of its “finance for all” mission. As of November this year, GCash’s user base is 5 times larger than it was two years ago with over 71 million registered users which is more than 83% of the adult Filipino population.
Aside from OFWs from all over the globe, well-known personalities use the seamless remittance options from GCash and Sendwave, including ‘King of talk’ Boy Abunda who was recently introduced as the newest ambassador of Sendwave. Abunda shared that the app helped him in his transactions when he was in the US because of its convenient, seamless, and fee-free remittance options.
“I know how hard our family and friends work overseas, and how important it is to support our loved ones back home. So I’ve been talking with my good friend, the Sendwave Penguin, and learning how using Sendwave is just as easy and affordable as sending a text message,” said Abunda.
Using the Sendwave app is quick and easy. OFWs in the US, Canada and parts of Europe can download it for free from the App Store or Google Play. Simply enter your information at sign up, and select the country you wish to send funds to. In just a few clicks on your smartphone, you can easily and quickly send money and funds in real-time to your family member’s GCash wallet! What’s more, you can use the promo code CHOCOLATE to get a $10 free credit on your first transfer. The promo duration will be valid for a month.
Filipinos can download the GCash app for free on Google Play and the App Store. For more information, visit www.gcash.com.ph.
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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