Makes remittances easier for millions of Filipinos across the globe
GCash continues to expand its global remittance network as it partners with Aboitiz retail network brand PERA HUB for cash-in transactions. The country’s leading fintech company has recently announced that PERA HUB partners will now be accessible via the GCash app.
“Through this partnership, millions of Filipinos around the world can benefit from easier and more affordable remittance services, ensuring they can always send money back home,” remarked Ren-Ren Reyes, president and CEO of G-Xchange Inc., the mobile wallet operator of GCash.
GCash users can now easily claim remittances and access PERA HUB’s vast network of remittance partners, which include, Remitly, IntelExpress, InstantCash, Ayannah, and soon, Uniteller, without the need to change applications or go outside their houses and line up at remittance centers.
"GCash is thrilled to have PERA HUB as a key partner in our international remittance network. This collaboration enhances the convenience and accessibility of remittances for our users, making financial inclusion now a global reality," noted Reyes.
Each year, millions of Filipinos find employment overseas to remit better earnings to their families back home. In 2022, the Bangko Sentral ng Pilipinas (BSP) reported an all-time high in remittances to the Philippines, reaching a staggering $36.14 billion.
"GCash is proud to empower Filipinos worldwide to live their best lives through a range of tailored products and services, particularly designed to meet the unique needs of Overseas Filipino Workers (OFWs). Our International Remittance service is a prime example, enabling those abroad to send remittances directly to the GCash accounts of their loved ones in the Philippines," stated GCash International General Manager Paul Albano.
PERA HUB, the retail brand of PETNET, operates 186 company-owned locations and boasts thousands of sub-agents. PETNET, with a remarkable 25-year history in the remittance business, is majority-owned by City Savings Bank, Inc. and Union Properties, Inc., both wholly-owned subsidiaries of the Aboitiz Group’s Union Bank of the Philippines..
“With PERA HUB’s partners now part of the GCash platform, OFWs and their families now have access to an even broader selection of remittance partners, making the process of sending and receiving money more convenient than ever,” said Albano.
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.
