Fortune, the global publication and business rankings authority, has recognized GCashas among the Fintech Innovators Asia 2024, as announced on November 6, 2024 during the Singapore Fintech Festival 2024 at the Singapore Expo.
The inaugural list highlights companies that are making significant advancements across Asia's booming financial technology sector, particularly firms that demonstrate innovation, drive technological advancements, and contribute to transforming financial services. The selection process considers factors like the impact of a company’s portfolio, its growth potential, and its contributions to the fintech landscape—seeking to highlight leaders in payments, digital banking, cryptocurrency exchanges, wealth management, and insurance technologies.
Inclusion in the Fortune list is an acknowledgment of GCash’s commitment to digital financial inclusion in the Philippines, and its work in providing innovative, responsive, and meaningful financial services that empower and uplift over 90 million users. Eight in 10 Filipinos have embraced GCash, positioning it as a cornerstone of the country’s digital economy and a key driver of financial accessibility in the region.
GCash continues to distinguish itself by developing uniquely Filipino, AI-powered tools that address the real-world challenges faced by its users. This commitment to innovation and inclusivity is underscored by GCash’s user demographics: Nearly 90% of its users come from lower-income brackets, with significant representation from womenand young users outside Metro Manila.
“It feels great that the efforts of the 2000 strong employees of GCash and the innovation that we’ve done towards our vision of Finance for All Filpinos are being recognized.”
GCash President and CEO Martha Sazon said.
“This milestone would not have been possible without our partners and the Philippine government’s support of our joint commitment towards financial inclusion.”
Adding to its momentum, GCash is taking part in the Singapore Fintech Festival 2024 for the third consecutive year. Sazon is taking the festival’s main stage on November 7, in a keynote session titled “Safeguarding the Economy’s Backbone: Accelerating Global SME Financing through Digital Services,” to showcase GCash innovations aimed at advancing micro, small, and medium enterprises (MSMEs). This participation underscores GCash's rising presence on the global stage, further establishing its role as a key player in the international fintech landscape.
As it expands its footprint beyond the country’s borders, GCash remains staunchly committed in its mission to build a financially inclusive future for all.
For more information on Fortune Fintech Innovators Asia List 2024, please visithttps://fortune.com/asia/ranking/fintech-innovators-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.
