The recent addition of Palawan Pawnshop as a Cash Out partner further expands the reach of GCash and ensures convenience and accessibility for all users, which is an essential part of its vision of achieving “Finance for All”.
“This partnership makes it simple for our users to convert digital money into physical cash,”
said GCash general manager of B2B, Jong Layug.
“Palawan Pawnshop’s extensive branch network makes it a critical partner in our thrust toward providing our customers unparalleled accessibility and convenience.”
Palawan Group’s Chief Business Development Officer, Lisa Castro-Sabado, expressed excitement about this milestone partnership, saying:
“The Palawan Group and GCash share one thing: we are both Filipino-owned, and service-to-Filipinos-oriented. This collaboration will certainly open doors to more opportunities of serving our kababayans better, wherever they are in the Philippines.”
Despite advances in digital payment infrastructure in the country, many Filipinos continue to rely on cash payment for their everyday transactions, especially in remote areas. Thus, partnering with Palawan Pawnshop, with its extensive presence across the country, will encourage more Filipinos to avail themselves of digital financial services as they can now easily turn their digital money into cash.
In addition to withdrawals, GCash and Palawan Pawnshop are also working on integrating the latter’s insurance products into GInsure, expanding the range of insurance options for GCash users. Users can access the Cash Out feature through the GCash app, generate a reference code, and present it at any Palawan Pawnshop branch. Transactions are processed within minutes.
The collaboration is part of GCash’s ongoing strategy to provide omnichannel financial services, offering users convenience and accessibility to digital financial solutions, while also maintaining access to physical cash when needed. Palawan Pawnshop joins a growing list of GCash partners in its cash-out network, reinforcing the platform’s commitment to serving its customers wherever they are.
For more information, visit www.new.gcash.com.
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.
