SINGAPORE – Eric Jing, chairman and CEO of Ant Group, owner of the world’s biggest mobile payment platform, Alipay, lauds GCash as the “best start-up investment” at the Singapore FinTech Festival 2023.
In a fireside chat of SFF 2023, Jing told Sopnendu Mohanty, chief fintech officer of the Monetary Authority of Singapore (MAS), that the Philippines’ leading finance super app, GCash, is the group’s best investment in the start-up space. Jing took part in an exclusive session with Mohanty as they made a deep dive into the world of payments and technology. He also shared remarkable insights into the strategies that propelled Ant Group into a global tech giant.
“As among the few profitable fintechs across the world, we are able to maximize value to our investors while making sure we provide the best service to our users. Through our shareholders like Ant Group, Globe Group, Ayala, and other global equity firms such as Warburg Pincus, Insight Partners, and Bow Wave Capital, GCash is poised for stronger growth in our pursuit of financial inclusion,” said Martha Sazon, president and CEO of GCash.
GCash made international headlines at the annual Fintech gathering in Singapore. Aside from setting up a booth at the expo for the first time, GCash was also featured in a panel discussion on the Insights Stage represented by Sazon as well as Ernest Cu, chairman of GCash holding company Mynt. Through partners like Alipay+, GCash has been growing its reach beyond Philippine shores, allowing customers to use the e-wallet for cashless transactions in 17 countries such as Singapore, Japan, and the USA. It has also let users overseas sign up for GCash using international mobile numbers in six countries like Australia, Italy, and Canada.
GCash users can also make cashless transactions with over 80 million merchants across 200 countries thanks to its partnership with global payments giant, Visa.
About Mynt
Mynt is the first and only $5 billion unicorn in the Philippines. It's a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 Finance App in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
Mynt and GCash are staunch supporters of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
For more information, please contact:
Bruce Rodriguez, Head of Business Communications
Corporate Communications
Legal Disclaimer & Safe Harbor Statement
This press release is for informational purposes only and does not constitute, or form part of, any offer, solicitation, or invitation to sell, issue, purchase, or subscribe for any securities in the Philippines, the United States, or any other jurisdiction. No securities of Mynt, Inc. have been or will be registered under the U.S. Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. There will be no public offering of the securities of the Company in the United States. No money, securities or other consideration is being solicited by this document or the information contained herein and, if sent in response to this document or the information contained herein, will not be accepted. Any potential initial public offering and listing in the Philippines, if pursued, remain fully subject to prevailing market conditions and regulatory approvals, including the registration requirements of the Philippine Securities and Exchange Commission and the listing rules of the Philippine Stock Exchange, Inc., and there can be no assurance that any such filings will be made or that any offering or listing will be consummated. This document contains forward-looking statements that involve inherent risks and uncertainties; actual results, timelines, and outcomes may differ materially from those projected due to shifting market dynamics, economic environments, and regulatory updates.
