The project will utilize GCash's Funds Disbursement Service and Verification API (Application Programming Interface), which ensures accurate and instant transfers of financial aid directly to recipients, minimizing risks of fraud, errors, and confusion. The API, which is part of the "GCash for Business: Partner Solutions Suite," enables real-time and secure verification of aid beneficiaries.
Caloocan City is the first local government unit (LGU) in the Philippines to adopt this innovative solution, setting a new standard for efficient and transparent governance. The collaboration between the Caloocan City Government and GCash highlights the transformative power of digital tools in streamlining government processes.
"This solution addresses a real challenge LGUs face – the need for speed and efficiency. The Funds Disbursement Service and Verification API will ensure safe and convenient transactions while making public services more accessible and reliable. We are committed to collaborating with partners like Caloocan City to promote financial inclusion and digital transformation across the country,"
said GCash vice president and head for Public Sector, Cleo Santos.
“Caloocan is one of the cities that has prioritized maximizing the potential of new technology through cashless transactions. These efforts significantly improved and sped up processes in our offices and, more importantly, helped uplift the lives of our constituents. Our efforts to digitize our beloved city will make transactions faster and more secure so that Caloocan can be a competitive and thriving digital ecosystem,”
said Caloocan City Mayor Along Malapitan.
Caloocan City is among the DigiCities listed by GCash in 2024. The city's public market vendors and tricycle drivers are also now adopting Paleng-QR Ph for cashless transactions; with their recent passage of the PalengQR resolution, soon, more small and micro merchants and services will be digital and cashless-ready
"Here in Caloocan, we strive to bring services closer to our people. We understand the challenges that our solo parents face. With these services, we can do this more efficiently and this is just our pilot. We hope to be able to use technology as we deliver more impact programs to our constituents,”
said Malapitan.
For more information, please visit www.new.gcash.com.
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.
