“This initiative, powered by GInsure in partnership with FPG Insurance, reflects the commitment of GCash to making financial protection accessible to every Filipino, ensuring that even the simplest transactions, like buying prepaid load, come with the added security of health coverage at no extra cost,”
said Winsley Bangit, vice president and group head of New Businesses at GCash.
The country’s insurance penetration has been growing in recent years, but it remains below 2%. With millions of Buy Load users on the app primarily receiving mobile load, GCash sees an opportunity to protect more Filipinos, offering a valuable incentive beyond telecommunications.
Made possible by GInsure, every time eligible users make Buy Load transactions on the GCash app, they can also avail of the free health insurance coverage, empowering users to prepare for unexpected medical expenses due to accidents or hospitalization
“Beyond just financial assistance, this benefit ensures that users have funds to cover medical costs or compensate for lost income during recovery, helping prevent families from falling deeper into debt and alleviating financial struggles,”
Ren-Ren Reyes, president and CEO of GCash mobile wallet operator G-Xchange, Inc.
The free health and accident insurance gives eligible users up to PHP 30,000 coverage and additional valuable benefits. For every load purchase, a user can automatically get PHP 10,000 in accidental death coverage, which can be accumulated up to a maximum of PHP 30,000 when making up to three separate eligible load purchases.
Users can also get income assistance when they’re hospitalized due to illnesses and accidents, allowing them to receive PHP 500 per day salary assistance for a maximum of 5 days. They can also get up to PHP 10,000 disablement benefit, providing the user or their beneficiaries a safety net.
GCash introduced this initiative in response to shifting user needs. With millions of Filipinos still hesitant to fully embrace digital transactions, they still rely on traditional offline methods. Now, with free health insurance seamlessly integrated into prepaid load transactions, users can enjoy more benefits when they go digital, making each purchase not just more convenient but also rewarding.
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.
