GCash strengthens partnership with Sendwave for zero-fee global money transfer services
The Philippines’ leading financial app, GCash and international money transfer service, Sendwave strengthen their partnership to help Overseas Filipino Workers (OFW) and their families access remittance options with zero transaction fees and affordable exchange rates.
GCash head of international remittance Jules Abalos said that this partnership with Sendwave is one way to help address the needs of OFWs and their families back home and empower them to take control of their finances in a safe, secure, and more convenient way. Through the Sendwave app, OFWs can securely send money back home directly to a family member’s GCash app – without the need to fill out forms, line up, or leave to go to a bank or remittance center.
“We all know how big the contribution of OFW remittances is to the economy, in fact in 2021 OFW remittances contributed 8.9% to our GDP, and through our international remittance product, we have made it easier, safer, and more affordable for OFWs to send money back home to their loved ones in the Philippines,” said Abalos.
Serving as a lifeline to many Filipinos abroad and their families back in the Philippines, GCash now has over 5.2M partners for QR merchants and social, sellers, over 339k Cash-In, Cash Out (CICO) outlets, and over 520 GLife partner merchants – furthering its goal to reach the underserved communities in the country in pursuit of its “finance for all” mission. As of November this year, GCash’s user base is 5 times larger than it was two years ago with over 71 million registered users which is more than 83% of the adult Filipino population.
Aside from OFWs from all over the globe, well-known personalities use the seamless remittance options from GCash and Sendwave, including ‘King of talk’ Boy Abunda who was recently introduced as the newest ambassador of Sendwave. Abunda shared that the app helped him in his transactions when he was in the US because of its convenient, seamless, and fee-free remittance options.
“I know how hard our family and friends work overseas, and how important it is to support our loved ones back home. So I’ve been talking with my good friend, the Sendwave Penguin, and learning how using Sendwave is just as easy and affordable as sending a text message,” said Abunda.
Using the Sendwave app is quick and easy. OFWs in the US, Canada and parts of Europe can download it for free from the App Store or Google Play. Simply enter your information at sign up, and select the country you wish to send funds to. In just a few clicks on your smartphone, you can easily and quickly send money and funds in real-time to your family member’s GCash wallet! What’s more, you can use the promo code CHOCOLATE to get a $10 free credit on your first transfer. The promo duration will be valid for a month.
Filipinos can download the GCash app for free on Google Play and the App Store. For more information, visit www.gcash.com.ph.
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.
