GCash, the Philippines’ leading finance app and largest cashless ecosystem, took part in Independence Day commemorations in New York City, hosted by the Philippine Independence Day Council, Inc. (PIDCI), a non-profit umbrella organization of Filipino-American associations along the East Coast. The PIDCI’s Independence Day Parade, the biggest Independence Day Parade outside of the Philippines and now on its 34th year, is an annual celebration of Filipino culture, the strengthening of familial and community ties, and a joyful display of Filipino pride.
At the event, Paul Albano, General Manager of GCash International, shared important new features that make digital financial services better for Filipinos living outside of the Philippines. GCash has made strides in its international expansion, with its app now available for download in the US using a US mobile phone number, and cashing in and sending money is easier from over 12,000 US banks to GCash accounts.
“At GCash, when we say that ‘Finance for All’ is our vision, it means we are driven to go beyond the Philippines and reach as many Filipinos as we can around the globe”
said Albano.
“We are honored to join our community in this distinctly Filipino celebration, and we’re eager to share all the ways GCash has been continuously innovating and enhancing our services to meet the needs of our kababayan overseas.”
The celebration of heritage and intergenerational community was held through a full-day cultural festival on June 2, 2024. GCash unveiled a float at its main event, an Independence Day Parade traversing Madison Avenue, that highlights GCash's main features that help connect Filipinos all around the world, especially with their loved ones back home.
GCash booths were also set up during a parallel street fair between Madison and Park Avenues that featured trade and travel merchants. Highlighting its role as a seamless fintech solution for Filipinos overseas, the GCash booth featured partnerships with financial institutions like Meridian, thus bridging US-based fintech services and the mobile wallet that has become a staple for financial services across the Philippines.
GCash and Meridian enable transfers from US banks to GCash peso accounts
GCash’s partnership with Meridian, an instant payments technology company headquartered in New York City, has enabled the direct transfer of US-based user funds within the GCash app from a selection of 12,000 US banks to GCash accounts. Upon transfer, the service automatically converts dollar amounts into Philippine pesos, offering competitive ForEx rates and a nominal $1 fee per transaction.
Albano added,
“At GCash, we want to help with the most important thing for our countrymen abroad: how they can care for their families and maintain connections with their loved ones despite the distance. With GCash’s international expansion, this is exactly what we are doing. We’re making it possible for Filipinos overseas to take better control of their finances, and sending money to the Philippines is more convenient with our competitive rates.”
GCash International expansion to reach millions of overseas Filipinos
GCash announced in March that it has expanded its international reach and fully launched its global push following approval from the Bangko Sentral ng Pilipinas. Filipinos in 14 territories—the US, Canada, Italy, the UK, Australia, Japan, the United Arab Emirates, Qatar, South Korea, Taiwan, Hong Kong, Spain, Germany, and Singapore—can now use international mobile numbers to sign up and use the GCash app. Kuwait and Saudi Arabia will follow suit in the next half of 2024.
With its expansion outside of the Philippines, GCash is able to serve and empower more Filipinos, wherever they may be based. In addition to free real-time money transfers among GCash wallets for convenient access to funds and the ability to buy load for loved ones back home, GCash users abroad can now directly pay their bills—ranging from utilities and tuition fees to government payables like taxes and contributions—from more than 1,900 Philippine billers.
To access GCash outside the Philippines, simply download the GCash app on Google Play, App Store, or Huawei AppGallery with an active international SIM card. On the app, select the country, type in your mobile number, and fill out important personal information to register– residency requirements may apply. Next, set your MPIN then proceed to log in. Ready your valid ID, like your Philippine passport, for scanning to verify your account. Afterward, complete the facial verification via a selfie and provide additional information, then wait for the SMS confirmation. Upon receiving the confirmation, you may now enter your MPIN and use the app.
GCash is also expected to meet with the Filipino communities in Carson City, California and Dubai, UAE within the coming weeks to share its GCash Overseas innovations.
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.
