In its mission to boost financial inclusion in the Philippines, leading finance app GCash is paving the way to create a digital ecosystem where women, along with their businesses and families, can thrive.
According to the Philippine Institute for Development Studies (PIDS), 43.62% of women-led micro, small, and medium enterprises (MSMEs) were established in 2020 as the world was compelled to embrace digitalization due to mobility restrictions caused by the pandemic.
“GCash is at the forefront of providing financial services to all Filipinos, especially the underserved sectors. With this mission, we see our financial solutions benefiting Filipinas wherever they are, with women comprising 55% of the 94 million individuals who have tried GCash. We’re also proud to say that over half of the social sellers we empower with cashless payment solutions are women,” said Martha Sazon, the trailblazing woman president and CEO who’s been leading GCash towards its financial inclusion goals.
“GCash believes in empowering women as they thrive in managing businesses in this digital age. In line with our advocacy of increasing the participation of women in the tech-industry, women comprise almost half of GCash employees, and nearly half of our leadership team are women changemakers. These women are all part of the company’s mission of championing financial inclusion for all Filipinos,” added Sazon.
GCash Pera Outlet (GCash PO) has been an invaluable ally for enterprising women across the country. 66% of GCash PO owners are women who use the service to further expand their small businesses, like sari-sari stories, while helping provide additional income for their families. Aside from providing digital tools to better manage women-led enterprises, GCash has also been providing starting capital and a lifeline for women through its suite of digital lending products. 2 in 3 of the more than 3.9 million unique borrowers empowered by GCash credit affiliate FUSE Lending are women. These are done through innovative lending solutions like GCredit, GLoan, and GGives.
With the help of the Bangko Sentral ng Pilipinas’ (BSP) and the Department of the Interior and Local Government’s (DILG) Paleng-QR Ph program, GCash can provide thousands of women market vendors across the country with access to cashless payment solutions, fair lending, and ways on how they can grow their funds.
Through the digitization of payments, GCash contributes to building a financially inclusive Philippines in collaboration with its like-minded partners from both the government and the private sector. Its partners recognize the role of GCash in creating an efficient, inclusive, and secure digital payments ecosystem that supports the diverse needs of individuals and companies.
Aside from fund transfers and real-time payments, millions of registered GCash users benefit from digital financial products and services like savings accounts, investments, cash loans, and insurance, as well as affordable and accessible remittance services for Filipinos abroad.
.png)
GCash, through GForest, also supports women farmers in line with its commitment to leverage technology for the betterment of women's lives. In partnership with organizations like the HOPE Foundation and Philippine Coffee Board Inc. (PCBI), GCash has provided livelihood to about 2,500 women farmers, representing an impressive 33% out of all local farmers supported by GCash, surpassing the 23% national gender ratio average.
“We believe that women play an important role in driving sustainable economic growth, especially as we continue to shift to a more digital society. As we continue to pursue our mission of Finance for All, we will make sure nobody gets left behind in reaping the benefits of a digital economy,” noted Sazon.
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.
