SINGAPORE – The Philippines’ top finance super app GCash debuts its stronger international services at the Singapore Fintech Festival 2023.
In a panel discussion of the annual gathering, GCash president and CEO Martha Sazon unveiled a new feature in the app where users can view real-time foreign exchange rates in select countries such as Singapore, Japan, and the USA.
“Through GCash services, Filipino travelers as well as those who live and work overseas can enjoy the same benefits as those who own credit cards and bank accounts. They can use the app to pay in stores and establishments that accept Alipay+ or accept card transactions,” Sazon noted.
GCash has been growing its reach beyond Philippine shores through its partner, global payments giant Alipay+, by allowing travelers to use the e-wallet for cashless transactions in 17 countries such as Singapore, Japan, and the USA. It has enabled users overseas to sign up for GCash using international mobile numbers in six countries such as the USA, Italy, and Japan.
Through its partnership with Visa, GCash users can make cashless transactions with over 80 million merchants across 200 countries. Customers can order the new GCash Card via the app. Aside from that, they can pay with GCash in establishments that accept Alipay+ by either scanning their QR codes or generating a code.
GCash is a leader in e-wallet and digital financial services for Filipino consumers. On top of its international expansion, the fintech company has begun beefing up its services for enterprise customers.
“I think to really transform the nation we start playing in the B2B space. We can’t just be one of the players, we need to really address the pain points and the friction that’s in the B2B space to make it a more meaningful play for us,” Sazon explained.
Aside from providing digital financial tools for enterprise clients, GCash also offers partner marketing solutions to businesses, both big and small, leveraging the app’s massive reach. Meanwhile, it is giving more focus on how it can help in the digital transformation of nano, micro, small, and medium enterprises (NMSME) with a suite of innovative business solutions.
Sazon was featured in a panel discussion about “Building Unicorns: An ASEAN Success Story” at the Insights stage of SFF 2023. She was joined by Ernest Cu, the chairman of GCash holding company Mynt, and the President and CEO of one of the Philippines’ biggest telecom companies, Globe Group. The panel was moderated by Ryan Huang, Assistant Finance Editor and Senior Producer and Presenter at Singapore’s MONEY FM 89.3.
GCash is the Philippines’ only double unicorn or duacorn with a valuation of over $2 billion. It has evolved beyond its core money transfer business – offering other financial services such as fair lending, investment, insurance, cryptocurrencies, and other lifestyle services.
The Singapore FinTech Festival is one of the biggest gatherings for the industry, gathering industry players and leaders from all over the world. Last year, it drew in 62,000 participants from 134 countries. It’s organized by Elevandi, a non-profit organization set up by the Monetary Authority of Singapore (MAS).
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
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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.
