In compliance with and support to the Commission on Elections (COMELEC) Resolution No. 10946 (Anti-Vote Buying) for the 2025 Midterm Elections, the Philippines’ leading finance super app and largest cashless ecosystem, GCash, is implementing temporary transaction limits until May 12, 2025. These measures aim to prevent potential vote buying during the election period.
Affected platform users are assured that the measures are temporary and will be lifted on May 13, 2025. Customers can also rest assured that they can continue with their regular transactions.
“GCash upholds the highest standards of security and integrity to prevent app misuse, including vote buying. As the election period approaches, we will remain vigilant, leveraging advanced detection measures to monitor and flag suspicious transactions,”
said GCash Chief Risk Officer Ingrid Beroña.
“As we work closely with regulators and law enforcement agencies, we are committed to responsible digital transactions and urge all users to uphold the principles of fair and transparent elections.”
A notification on the total daily amount sent or the number of transactions for the day will be sent to the user once they reach the limit, and may resume the next day with a replenished daily cap.
The company also warns that it employs advanced fraud detection and anti-money laundering (AML) tools to monitor and flag suspicious transactions, including suspected vote buying. If an account is suspected, the platform may freeze the account and report it to the appropriate regulatory authorities.
GCash encourages its users to participate in assuring fair elections this year by reporting suspected vote buying to the GCash Help Center at help.gcash.com or via the customer service chatbot Gigi on the GCash app. They may also contact the GCash hotline at 2882.
Reports can also be directed to the Commission on Elections (COMELEC) or law enforcement authorities for further investigation.
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.
