The Philippines makes an indelible mark on the global fintech scene, as the country’s leading finance super app GCash has been featured in two prestigious lists from global business magazine Fortune in 2024. The homegrown fintech leader was recently included in the inaugural Fintech Innovators Asia 2024 while its president and CEO Martha Sazon was cited in Fortune's 100 Most Powerful Women Asia 2024. The recognition highlights the success of GCash in addressing the financial needs of millions of Filipinos through groundbreaking digital tools. Moreover, these citations further elevate the Philippines’ collective win toward building an inclusive digital economy for all Filipinos.
“It feels great that the efforts of the employees of GCash and the innovation that we’ve done towards our vision of Finance for All Filipinos are being recognized,”
said GCash President and CEO Martha Sazon.
“These milestones would not have been possible without our partners and the Philippine government’s support in our shared mission toward financial inclusion.”
Under Siazon’s leadership, GCash has introduced fintech innovations that have not only helped individual users but have also contributed to raising the country’s financial inclusion rate from 29% in 2019 to 65% in 2022—a significant shift that reflects the integration of GCash into the lives of Filipinos.
With over 90 million having tried using GCash, the app has redefined access to essential financial services such as savings, investments, loans, and insurance. At the same time, Sazon’s leadership has been instrumental in GCash’s journey to becoming the Philippines’ first and only $5 billion unicorn. Appointed as CEO during the COVID-19 pandemic, Sazon steered the company through an extraordinary period of growth, tripling its user base and introducing features that have become lifelines for millions. For one, the GSave feature has made it possible for one in four banked Filipinos to open savings accounts easily, while GFunds has allowed users to start investing with as little as PHP 50 (~$1). Meanwhile, through its lending arm, Fuse, GCash has disbursed over $2.7 billion in loans to 5.4 million borrowers, the majority of whom are women, individuals from lower-income brackets, and those living outside urban centers. Additionally, GInsure has expanded access to insurance by selling over 35.5 million policies, offering affordable protection for families and small businesses.
As it continues to be a pioneer of inclusive and transformative digital finance in the country and beyond, GCash is redefining how Filipinos approach their financial journey while setting a benchmark for excellence in the industry in line with its pursuit of financial inclusion.
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.
