GCash, the Philippines’ number one financial super app, empowers micro, small, and medium enterprises (MSMEs) to take on opportunities and navigate through the digital economy through its fintech solutions.
“This MSME month, GCash underscores its key role in helping businesses in the country level up through our extensive suite of digital financial services. From affordable lending for business expansion; business insurance to protect their assets and operations; as well as cashless transaction tools to help them reach more customers – GCash is evolving to becoming more than an e-wallet,” said Ren-Ren Reyes, President and CEO of G-Xchange, Inc. (GXI), the mobile wallet operator of GCash.
GCash offers GLoan which provides instant cash loans to kickstart business goals; and GInsure, through Negosyo Insure of its partner, Malayan Insurance, to protect hard-earned investments. Business owners can also enjoy seamless payment experiences with Scan-To-Pay, enabling easy QR code payments offline.
Easy access to loans for entrepreneurs
GLoan boasts of an easy application process as it considers users’ in-app behavior to provide them with pre-approved loans. Eligible users can easily access GLoan and use the funds to start or expand their business.
35% of GCash’s borrower base are business owners and it’s looking at providing 1.5 million more informal sellers with lending solutions to help grow their business.
Business Protection made affordable and accessible
GCash also understands that starting businesses may be risky, that is why the super app has made available, via GInsure, Negosyo Insure, underwritten by Malayan Insurance and powered by Igloo. For as low as PHP525 per year, MSMEs can be assured of secure and insured business operations for accidents that may happen to them, their property, and even their money.
GInsure can easily be accessed through the GCash app, with minimal requirements and steps for processing.
Additional income made easy via GCash PO
GCash has also created a way for sari-sari store owners to grow their business by earning as much as Php 50,000 per month, through commissions or bonuses earned as a GCash Pera Outlet (PO). This not only enables small businesses to grow, but also helps locals have a convenient one-stop-shop in their communities so they may avail of GCash’s services such as Cash In, Cash Out, Pay Bills, and Send Money.
Signing up for this has been made simple in the GCash app – all one has to do is click “GCash PO” under business services on the GCash dashboard, fill up the application form and submit along with business registration. Approval will be released within five (5) to seven (7) business days.
“In line with our mission to achieve ‘Finance for All’, we make sure we are able to pave the way for our MSMEs to meet their business goals. To date, we are empowering 845,000 small-scale community merchants from public market vendors, to sari-sari store owners, and tricycle driver associations,” added Reyes.
GCash joins forces with Mapúa to enhance FinTech program
Leading organizations partner to produce industry-ready fintech graduates
To help institutionalize Financial Technology (FinTech) as an emerging field of study, leading STEM university, Mapúa, has tapped the expertise of the Philippines’ no. 1 finance super app, GCash, to further develop its ‘Bachelor of Science in Financial Technology’. The program will combine formal tertiary education and professional immersion with fintech industry leaders and is the newest undergraduate program under Mapúa’s E.T. Yuchengco School of Business, in collaboration with Arizona State University.
GCash and Mapúa formally inked their partnership through a Memorandum of Understanding (MOU) signing held at Mapúa University’s Makati campus on August 30, 2. Signing the agreement were GCash chief people officer Robert Conrad Gonzales, Mapua University president and CEO Dr. Dodjie S. Maestrecampo, and Dr. Jagdeep Jassel, Dean of the ETY School of Business.
The partnership between GCash and Mapúa University signifies a remarkable synergy between academia and the fintech industry, where theoretical knowledge converges with real-world application. The launch of the BS in Finance Technology program marks a transformative step towards equipping students with the skills and insights needed to excel in the rapidly evolving landscape of financial technology.
“We recognize that partnerships with universities are crucial in the pursuit of our financial inclusion goals, as we are always looking for fresh young talents to join the G Nation. We intend to continue investing in the youth as the fintech industry continues to grow rapidly,” says Gonzales.
“Through this partnership, we aim to be at the forefront of developing talented young professionals in tech. We aim to be the industry eye that can give relevant perspectives and support on internships, curriculum development, faculty immersions, scholarship programs, and other related pursuits,” Gonzales adds.
“We are very excited to see the development of this program. With this partnership, we are confident that we can present fintech to the younger generation as a path with many opportunities, especially with industry leaders from GCash who can share their expertise first-hand, which will greatly help us in designing the curriculum,” says Mapua Dean of the ETY School of Business Dr. Jagdeep Jassel.
The Mapúa E.T. Yuchengco School of Business is also in collaboration with Arizona State University (ASU), the no. 1 “most innovative school” in the U.S. by the U.S. News & World Report. This collaboration opens the doors of students to world-class learning resources and prepares them for a career at par with the rest of the world.
Since the pandemic, fintech leader GCash has helped reduce the number of unbanked Filipinos, providing savings, credit, insurance, wealth growth, and other financial services that had only been available to a few in the past. Believing that the goal of finance for all should be a continuous and sustainable journey, GCash has begun partnering with universities not only to fill up career opportunities in their organizations but also to be the training ground for future fintech leaders.
The partnership between Mapúa and GCash will encompass immersions, and experiential learning. Best of all, it will involve the co-development of subjects leveraging GCash’s industry experience. This collaborative effort ensures that the program remains at the forefront of industry trends, preparing students for the challenges and opportunities of the evolving financial technology landscape.
For more information, visit https://www.gcash.com
GCash Spoofing Scammers Warning
With online scams becoming more and more sophisticated by the minute, GCash and the Philippine National Police Anti-Cybercrime Group (PNP-ACG) are taking this issue seriously.
The newest on the block is called “spoofing scam.” Spoofing scam is a scam where perpetrators use illegal software to make their text scams look like they came from legitimate sources like banks, e-commerce companies, and other big, trusted companies. Since they appear ‘legit,’ unsuspecting targets may fall victim and unknowingly click the link and leak sensitive personal and financial information to fraudsters.
To prevent this from happening to its customers, GCash, the Philippines’ number 1 fintech app, warns its users that all of their Send Money Confirmations are now sent to the GCash App inbox. They also remind the public that if any individual messages them that they have mistakenly sent money to their GCash account and are asking to send it back, they should be vigilant and check their transaction history first to know if this is correct or a ploy to steal from them.
GCash is also in close communication with the PNP-ACG on how they can better serve their customers in cases where they get scammed. For individuals who believe that a fraudulent transaction has occurred in their accounts, they are encouraged to contact the GCash customer care hotline at 2882 or send a ticket to their GCash Help Center at help.gcash.com or message Gigi on the website and type “I want to report a scam.”
Learn more about how to protect yourself and your family and don’t hesitate to contact the PNP Anti-Cybercrime Group if you need help. Contact them at hotline (02) 8414-1560, 09985988116 or via email at firstname.lastname@example.org.
GCash HOPE and Century Pacific Food, Inc
Announced milestone and showcased coconut industry potential at World Congress
The Philippines is one of the world’s largest exporters of coconut products, however, this industry faces multiple challenges such as low productivity due to a host of social, financial and logistical factors. To further support and promote the country’s coconut industry, leading fintech superapp GCash, through its in-app sustainability feature GForest, in partnership with HOPE and Century Pacific Food, Inc. (CPFI), has planted one million coconut trees in Mindanao alone, co uplifting the lives of over 7,600 smallholder farmers, of whom 32% are women.
GCash and its partners also attended the World Coconut Congress, which was recently held at the World Trade Center in Pasay City, where GForest sustainability head CJ Alegrem, along with Nanette Medved-Po, founder and chairwoman of HOPE, and Noel Tempongko, Vice President and General Manager of Century Pacific Agricultural Ventures, Inc. (CPAVI), CPFI’s OEM-Coconut business, proudly shared the positive impact of their partnership.
“The success of the GForest program in Mindanao is a testament to our ‘Tech for Good’ vision. With the help of our green heroes, the one million coconut trees planted in the region brings us closer to our goal of contributing to carbon sequestration, while at the same time, providing sustainable livelihoods for local farmers,” shared Alegre.
This initiative not only aims to address the challenges surrounding the direct supply chains for coconut oil, but also the cultivation areas as a whole as the project supports local communities, helping them achieve financial growth and empowerment.
“We’re incredibly proud of what GCash, HOPE, and Century Pacific Food, Inc. have achieved together. The work doesn’t stop there. We are committed to continuing our work towards a healthier planet while providing livelihood to smallholder farmers who need it the most,” said Medved-Po.
The partnership was initially launched in August 2021 through GForest, an environmental protection feature on the GCash app that allows users to take an active role in the country’s reforestation efforts. Through the platform, GCash users earn green energy points, which can be used to plant virtual trees. In turn, GCash, together with its partners across the Philippines, plant an actual tree for every virtual tree in the app.
Take part in celebrating the impactful potential of the coconut tree by joining GForest. To activate, tap GForest in the GCash app, read the user agreement, and click ‘I want to help! Then allow access to your contacts and health app. Once accomplished, you can now start collecting energy points.
Don’t have GCash yet? Download the app for free on Google Play for Android, Apple Store for iPhone and iPad users, or Huawei Gallery.
To know more, visit GCash at https://www.gcash.com
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