For playing a central role in financially empowering millions of Filipinos wherever they are, GCash, the leading finance super app in the Philippines, continues to make big waves in the global fintech industry as its president and CEO Martha Sazon has been recognized on Fortune's prestigious list of 100 Most Powerful Women Asia 2024.
Appointed as CEO during the height of the COVID-19 pandemic, Sazon has championed customer-centricity, transforming GCash into a vital lifeline for many Filipinos.
GCash has become the Philippines’ first and only $5 billion unicorn, tripling its pre-pandemic user base to over 90 million Filipinos in 2023, and is now a household name across the nation. With financial inclusion at its core, GCash continues to provide accessible and affordable financial services that help millions of Filipinos thrive every day.
Under Sazon’s helm, GCash achieved exponential growth and innovation. With the help of GCash, the banked population of the Philippines has increased from 29% pre-pandemic to 65% in 2022. Now, millions of GCash users benefit from finally being able to do what they were unable to do in the past—save, invest, get insurance easily, and get fair loans.
Notably, GSave enables 1 in 4 banked Filipinos to easily set up deposit accounts through its in-app savings feature. GFunds allows users to invest in local and global funds for as little as PHP 50 (~$1). Currently, 75% of the country’s Unit Investment Trust Funds (UITFs) is coursed through GCash and it has sold over 23 million insurance policies via its GInsure feature – significantly increasing access to insurance. GCash, through its lending arm Fuse, disbursed over $2.75 billion in loans to 5.4 million unique borrowers, with 2 out of 3 borrowers being women, from lower socio-economic classes, or located outside Metro Manila.
Underscoring her influence and dedication to driving positive change in the financial landscape, Sazon’s remarkable leadership has earned her numerous accolades over the years. In 2021, she was named CEO of the Year at the IDC Future Enterprise Awards in the Philippines. Her innovative digital transformation strategies led to her being titled Master Innovator at the Mansmith Innovation Awards in 2022. Most recently, in 2023, she was honored as Woman of the Year at the Asia Leaders Awards.
Prior to joining GCash, Sazon had over 20 years of experience across diverse sectors, including food, over-the-counter drugs, personal care, and telecommunications, showcasing her expertise to drive growth and transformation in competitive markets on both national and international scale.
The Fortune 100 MPW Asia rankings honor women leaders who transform companies, disrupt industries, and drive growth, innovation, and business excellence while helping inspire positive change and the next generation of leaders. The full list is available on: https://fortune.com/asia/ranking/most-powerful-women-asia/.
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.
