This supports the program of the government-owned agricultural insurer to deliver indemnity payments to farmers nationwide through GCash.
With the MOA signing between PCIC and GCash in January 2025, enabling the agency’s adoption of faster and more secure digital indemnity payments, PCIC can now efficiently disburse billions worth of insurance proceeds to millions of insured farmers nationwide in real time.
“The long-term vision of our corporation is really to facilitate the efficient distribution of payouts for our farmers and fisherfolk [especially in far-flung areas],”
said Israel Dela Cruz, PCIC Business Development and Marketing Manager.
“One way of doing that is through GCash, which was able to [kickstart] the adoption of e-wallets [and] is a big help to PCIC’s digitalization program.”
“Ang GCash ang pinakamalaking digital platform, kaya ito napili ng PCIC para maging partner sa indemnity ng mga magsasaka,”
shared Julius Batenga, Regional Manager of the Philippine Crop Insurance Corporation-Regional Office 8 (PCIC-RO8).
“Kasama sa partnership namin with GCash ‘yung financial literacy programs na kung saan [tinuturuan] ang mga farmer para sa overall access nila sa financial services.”
(“GCash is the largest digital platform, which is why it was chosen as PCIC’s partner for the indemnity payments for farmers. Included in our partnership with GCash are the financial literacy programs where farmers are taught how to gain overall access to financial services.”)
In addition to indemnity payments or insurance claim payouts, this collaboration breaks barriers to financial inclusion for farmers in rural areas by eliminating the need to encash cheques at the bank, which requires considerable travel. This also allows Filipino farmers to easily access a wealth of digital financial services at their fingertips, including tools for savings, investments, microloans, and more.
“With the partnership of GCash [and] the Philippine Crop Insurance Corporation, hindi na maghintay ang mga farmers na mabigay sa kanila ang tseke for their insurance claims,”
shared Alda Lou Cabrera, Manager for Public Sector National Government Accounts for GCash.
“Pwede na sa GCash nila mismo ito direstong matanggap kaya very convenient kahit nasaang lugar man sila.”
(“With the partnership of GCash [and] the Philippine Crop Insurance Corporation, the farmers do not need to wait for checks to receive their insurance claim. They can now directly receive [this] through GCash conveniently anywhere they are.”)
Beyond the digital disbursement initiative, the PCIC x GCash Digital Financial Literacy Caravan equips Filipino farmers with the knowledge and tools for making informed financial decisions, investing in their personal growth and future, and taking charge of their finances for greater independence.
Fueled by GCash’s mission of “Finance For All,” the grassroots initiative first brought the holistic financial literacy program to 300 farmers in Candaba, Pampanga, and 200 farmers in San Rafael, Bulacan, on April 3 and 4, respectively. An overwhelming majority of attendees in both locations expressed interest in receiving their insurance claims via GCash, highlighting the importance of supporting digital financial inclusion in rural areas.
“Maraming dahilan kung bakit ako na-convince. Nakita ko ‘yung mga merong GCash at madali ang kanilang transaksyon sa lahat ng bagay: sa pagbabayad, sa pangongolekta, at iba-iba pa,”
shared Geronimo Sagum, a farmer who participated in the PCIC x GCash Digital Financial Literacy Caravan.
(“There are many reasons why I was convinced [to sign up for GCash]. I saw those with GCash and that their transactions are easy for a lot of things: to make payments, to receive payments, and so much more.”)
With the ongoing partnership, PCIC and GCash aim to drive digital innovation to make financial services accessible to more Filipino farmers nationwide, ensuring no one is left behind.
As the two organizations continue to acknowledge the role of the agricultural sector as the backbone of the country, they hope to foster greater digital financial literacy among farmers and bring the PCIC x GCash Digital Financial Literacy Caravan to more provinces and rural farmer communities.
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.
