GCash sets sights on further international expansion
Rolls out services for Filipinos in 16 markets around the globe
MANILA, Philippines, 18 March 2024 – GCash, the Philippines’ leading finance app and largest cashless ecosystem, has announced the availability of GCash Overseas to Filipinos in 16 key markets globally.
With GCash Overseas, Filipinos in the United States, Canada, the United Kingdom, Spain, Italy, Germany, Qatar, Kuwait, Japan, South Korea, Taiwan, Singapore, Hong Kong, and Australia can now download and use the GCash app, whether they have Philippine SIMs or local mobile phone numbers in the countries or territories where they live.
“We recognize the financial needs of over 10 million Filipinos living abroad. With GCash now available beyond the Philippines, we are responding to the needs of global Filipinos in these cashless digital economies, providing them with a safe, secure, and efficient fintech solution to send money back home,” explained Paul Albano, General Manager of GCash International.
The availability of GCash in the 16 key markets worldwide allows overseas Filipinos to: send money to loved ones anytime anywhere; pay bills and be in complete control of where the money is going, including household utilities, tuition, and taxes, among others; and purchase mobile phone load for loved ones to stay connected via chat or video calls.
Beyond enabling Filipinos around the world with a secure platform to transfer money back home, GCash is also offering them other digital financial services, including savings, gifting vouchers, and online payments.
To reach more Overseas Filipino Workers, GCash is teaming up with Ikon Solutions Asia, Inc., a licensed recruitment agency, to ensure OFWs are equipped with much-needed digital financial services through the app.
The Philippine fintech leader has also partnered with global payments platform Alipay+. With Global Pay, GCash is now a viable channel to pay over 3 million Alipay+-enabled merchants in 17 countries and territories around the world, including Japan, South Korea, and Singapore in the Asia-Pacific region; Qatar and United Arab Emirates in the Middle East, Italy, Switzerland, and the United Kingdom in Europe, and in the United States—all with the benefits of low foreign exchange rates and zero service fees. Moreover, the service was recently integrated with the national QRs of Malaysia and South Korea, making scanning to pay even more seamless in these countries.
The company has also partnered with international payments giant Visa, providing GCash users with another cashless payment method outside of the Philippines. The new GCash Visa card offers another payment option anywhere in the world.
“We’ve enabled access to Finance through a service that’s enjoyed currently by 94 million Filipinos, and our international expansion allows us to serve millions more. We’re confident that our innovation and strategic partnerships will allow us to provide seamless financial services to Filipinos anywhere in the world. This is only the first step as we grow our presence internationally,” stated 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
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.
