PNP, GCash arrest online task scammer

The Philippine National Police arrests a suspect behind an online work scam following a successful collaboration with the country’s leading finance app GCash. The scam involves luring a victim to accept online tasks requiring investing money to earn a commission.

The suspect was identified as 21-year-old female Danica Dela Cruz Valdez, a resident of Balayong, Malolos City, Bulacan. Valdez had initially paid the victim for the first milestone to gain trust. With the succeeding tasks, Valdez then required the victim to complete the entire project first before the commission could be given, for which the suspect required more investment money. The victim agreed and sent payment to the suspect's bank accounts. Later, Valdez introduced additional problems involving a crypto account that coerced her victim to send an additional payment, banking on the victim's desire to get paid once and for all. In the end, the scammer collected P314,080 from the unsuspecting victim.

As part of its ongoing initiative to educate the public on how they protect themselves from scams and other financial cyber crimes, GCash continues to remind its users to practice extra vigilance and awareness of the various modes of scams.

"Having millions of users and with the end goal of financial inclusion, online safety tops the priorities of GCash. We remain steadfast in our dedication to ensuring the security and protection of our users. We shall remain faithful to our collaborative efforts with the Philippine National Police in swiftly addressing any scams, fraud, and cybercrime," said GCash mobile wallet operator G-Xchange, Inc. head of legal Atty. Gilbert Escoto.

While intensifying its cooperation with law enforcement authorities, GCash also urges users to be extra vigilant of online scammers and fraudsters. When making transactions on the app, users are reminded never to disclose their MPIN or One-time PIN (OTP). With the rise in phishing incidents, users are strongly advised to never click links, especially from unknown senders.

For help and assistance, contact the PNP-ACG via their hotlines at (02) 8414-1560, 0998-598-8116, or email at acg@pnp.gov.ph 

To report scams and fraudulent activities, visit the official GCash Help Center in the app or at help.gcash.com, message Gigi, and type, “I want to report a scam.” GCash will never send private messages to ask for personal information, especially the MPIN and OTP. Customers can also contact the official GCash hotline at 2882 for queries and other concerns.

For more information, visit www.gcash.com.ph.

Updating AMLA can boost anti-child exploitation laws, says GCash chief compliance officer

RA 11930, or the ‘Anti-OSAEC (Online Sexual Abuse and Exploitation of Children) and Anti-CSAEM (Child Sexual Abuse or Exploitation Materials) Act’, which was authored by women empowerment advocate Senator Risa Hontiveros, is a legislation that can be further boosted by updating the Anti-Money Laundering Law (AML), which will help combat cyber threats against the youth. This was the central message of GCash chief compliance officer Atty. Cef Sison during a panel discussion comprised of the country’s top industry leaders.

“RA 11930 is a powerful legislation that can fight OSAEC. We are bound by duty under this law to report to the Department of Justice (DOJ) within 24 hours any discovery of OSAEC activities on our platform and to the Anti-Money Laundering Council (AMLC) within five days. We are also bound by duty to provide financial documents and information upon order of the court when it has been established that there is reasonable ground that the transactions are in violation of RA11930,” said Sison during an anti-OSAEC forum that gathered public and private stakeholders, including Senator Risa Hontiveros.

On the more technical side, Sison said that GCash is currently exploring generative artificial intelligence to chase after perpetrators. Sison established that the traditional AML parameters are no longer sufficient to keep up with the speed and volume of online transactions. Furthermore, she said perpetrators are becoming more creative and could already be using generative AI for their malicious activities.

“We need to process individuals with generative AI to keep up with the fast pace of new users and transactions,” explained Sison.

Sison also mentioned that perpetrators are abusing their rights to data privacy, but the principles of law negate this right if the safety of innocent people is threatened.

“GCash is one with the nation in ensuring the safety and security of everyone in our quest for financial inclusion,” concluded Sison.

Earlier this November, GCash joined Quezon City Mayor Joy Belmonte and Senator Risa Hontiveros at the Anti-Online Sexual Abuse and Exploitation of Children Conference (Anti-OSAEC Conference) held at the Novotel in Quezon City in celebration of National Children’s Month. The conference was organized by the Municipal Government of Quezon City, the Center for the Prevention and Treatment of Child Sexual Abuse (CPTCSA), the Philippine Children’s Ministries Network (PCMN), and the Mission Alliance (MA) with the support of the Royal Norwegian Embassy in Manila and Plan International Philippines. Other industry players in the panel included Globe Telecom and PLDT.

For more information, visit https://www.gcash.com.

GCash, SEC kick off financial literacy campaign for Filipinos

In line with its shared mission to help uplift the lives of Filipinos through financial literacy, GCash, the country’s number one finance super app, has partnered with the Securities and Exchange Commission (SEC) to launch its Financial Education Campaign for 2023, which aims to help millions of Filipinos, including Nano, Micro, Small, and Medium Enterprises (NMSMEs) adopt digital financial solutions aimed at improving their livelihood.

The SEC and GCash sealed the partnership with the signing of a memorandum of agreement, which coincided with the SEC's 87th anniversary and stakeholders appreciation ceremony, with Finance Secretary Benjamin E. Diokno as the keynote speaker, alongside key industry leaders.

The MOA for the Financial Education Campaign recognizes G-Xchange, Inc. (GXI) as one of the agency's partners in the SEC Capital Market Promotion and Awareness Inter-Agency Network, or the SEC CAMPAIGN Network. Moreover, the Fin-Ed Campaign is also part of the SEC’s celebration of Investor Protection Week. It aims to further educate ordinary Filipinos on the benefits of investing and how to better protect their finances.

“We are delighted to partner with GCash in educating millions of Filipinos on how they can protect their money and achieve their financial goals. We have long endeavored to deepen financial literacy and inclusion, and with GCash and its tireless effort to help uplift the lives of our kababayans, we can further expand our initiatives to more Filipinos wherever they are,” SEC Chairperson Emilio Aquino said.

The campaign kicked off with a live webinar entitled “Fulfilling Your Wildest Negosyo Dreams: Smart and Sustainable Investing for Your Business” streamed via the SEC and GCash official FB pages where SEC Commissioners and officers, joined by GCash head of market education Mark Ilao, talked about investor protection, investment options, debt management, and options for MSMEs on how to grow and protect their business through loan opportunities, protection against scammers, and more. The program also tackled smart financial planning using safe and secure financial tools and strategies.

The webinar was followed by a talk show seminar entitled “Shake It Off: Dropping Bad Financial Habits Toward a Secure and Sustainable Life”, which was held at The SEC Headquarters and attended by professionals, government workers, and students. The program tackled some of the most effective ways to replace bad financial habits with good ones that improve your financial health.

Lastly, SEC and GCash discussed on air how Filipinos can protect their finances and safely grow their investments during a radio show entitled “Usapang Kaperahan With SEC and GCash." The show featured SEC Chairman Emilio Aquino and GCash customer success head Mark Ilao who shared their expertise with the audience, including understanding how to save, what to invest in, and how to better secure one's finances, among other financial education topics.

Event | GCash to Host a Big Event in the Visayas

GCash to host ‘One with the Nation’ public sector event in Visayas
The annual event to usher in closer public-private partnerships in the regions for GCash
 
Leading fintech company GCash is bringing its ‘One with the Nation’ annual conference to the Visayas, in line with its vision of achieving ‘Finance for All’.
 
In partnership with public sector organizations, GCash aims to bring crucial insights into the future of digital financial services to promote financial inclusion and foster economic growth.
 
The hybrid event is themed “Innovative and Inclusive: The Future of Digital Financial Services”, and is slated on November 18, 2022, at Seda Hotel Cebu.  
 
Representatives from the Banko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG) will grace the gathering and discuss the regional implementation of Paleng-QR PH, a new program created by the two government agencies to further expand the Philippines’ digital payments ecosystem.  
 
Paleng-QR promotes cashless payments among market vendors, community shopkeepers, and tricycle operators and drivers nationwide.
 
Tagbilaran Mayor Jane Censoria Cajes-Yap and Lapu-Lapu City Major Junard “Ahong” Q. Chan, Mayor of Lapu Lapu City, were also invited to talk about the adoption and implementation of Paleng-QR in their respective localities. Local government leaders in the Visayas are also set to pledge their support to the initiative during the event. Likewise, One With The Nation will feature a testimonial from Baguio Mayor Benjamin Magalong, case studies of vendors and tricycle organizations, as well as a panel discussion.
 
“We are firm believers of public-private cooperation. That’s why we look forward to turning this conference into a platform that could further strengthen our partnership with the public sector. We also want to shine a spotlight on innovations that could help create a more financially inclusive nation,” said Martha Sazon, GCash President and CEO.
 
Sazon, together with GCash Chief Commercial Officer Oscar Enrico Reyes Jr. will highlight key developments and updates in the rapidly growing fintech sector. GCash AVP and Head of Public Sector and Partnership Cathlyn Dolor Pavia will discuss the “Pillars for Digital Financial Inclusion” while Fuse Lending President and CEO Tony Isidro will talk about “Bridging the Digitalization Gap with Accessible Financial Services for All.” Lastly, Mr. Greg E. Baccay, Head of Regional Economic Affairs at the Bangko Sentral ng Pilipinas (BSP) will discuss Paleng-QR PH.
 
To learn more, visit www.gcash.com. 

Lifestyle | UPS and GCash Team Up for Better Payment Experience Among Filipinos

Here's another story to better serve the people especially that the Philippines is embracing a digital lifestyle. UPS and GCash, both leaders of their industries, team up to help the Filipino businesses and consumers to experience a better payment experience. This also signifies a strong confidence in the Filipino market of both industries.

To read the complete story, here's it:

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UPS and GCash team up to simplify payment experience for Filipino businesses and consumers

● New partnership allows anyone in the Philippines to perform instant, secure, round-the-clock payments for UPS services including upon pick-up or delivery of their packages, using GCash’s cashless mobile payment options.

● The new digital payment capability also helps to minimize shipment delays by allowing shippers and recipients to pay for outstanding customs-related charges instantly.

● Embracing innovative technology is at the heart of UPS’s goal of providing the best digital experience powered by a global smart logistics network.

MANILA, Philippines — UPS (NYSE:UPS), one of the world’s largest package delivery companies, announced today that it is providing Filipino businesses and consumers with a new streamlined, cashless payment experience by partnering with the country’s leading electronic wallet, GCash.

Any shipper or recipient in the Philippines can now instantly and securely pay for UPS’s logistics services, and settle any outstanding shipment-related charges, at any time, using GCash’s digital payment app on their mobile phones, instead of having to transact in-person with cash or credit cards.

Traditional payment methods are relatively cumbersome, less secure, and involve more time and resources from all parties to implement accurately. Additionally, adoption levels of digital payments in the Philippines have risen since the pandemic began, accelerated by the switch to e-commerce and contactless delivery. 

“Being able to leverage GCash’s leading mobile payments technology enhances how our customers do business with us in several ways, including improved customer experience, payment convenience, and even minimizing package delays in the event shipments are held at customs due to outstanding duties and taxes,” said UPS Philippines’ Finance Manager Grace Gavilan.

“Small businesses form the backbone of our economy, and as the Philippines pivots towards becoming a digitalized and cash-lite economy, their active participation is crucial or they risk getting left behind. We’re confident this enhancement opens more doors for Filipino small businesses to be part of an inclusive financial ecosystem, and addresses their needs for a smarter, more digital-first approach to logistics and international trade,” Gavilan added.

GCash, which has over 55 million registered users to date, sees UPS as a valuable addition to its robust portfolio of top Filipino corporate and consumer-oriented partners.

“Our company’s fintech service is built on the premise of enabling a digital ecosystem to help every Filipino. We are delighted to team up with UPS as this moves us closer to our goal of accelerating financial inclusion in our society – across government, businesses and consumers – via our financial services platform”, said Luigi Reyes, GCash vice president for Enterprise.

UPS currently invests US$1 billion per year in technology to enhance network efficiency and improve its services. In recent years, UPS has unveiled several initiatives aimed at enabling a global smart, technology-enabled logistics network, including new shipping technologies like My Choice for Business which provides shippers with greater flexibility and visibility of their inbound and outbound shipments.

Lifestyle | GCash-BPI Partnership Easier to Retail Investments and Financial Services

GCash and BPI are among the providers that I usually use for my transactions to pay bills, buy load and savings. It is great to know that GCash and BPI strengthens their partnership, both under the Ayala Group umbrella, to further reach consumers needing services for retail investments and other financial services. So, here's a story of their partnership:

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GCash-BPI partnership enhances accessibility to retail investments, financial services

 

Leading mobile wallet company GCash recently teamed up with the Bank of the Philippine Islands (BPI), one of the biggest banks in the country, to further broaden its retail offerings and provide customers with more opportunities to grow their funds.

 

This follows GCash’s move to make it possible for Filipinos to avail of retail investment offers for as low as P50 through GInvest, the investment marketplace featured on the app.

 

Through its partnership with BPI, GCash now gives its customers the opportunity to invest in BPI Investment Management Inc.’s (BIMI) ALFM Global Multi-Asset Income Fund (GMAIF) and the Philippine Stock Index Fund under GInvest. Customers can therefore start investing for as low as P1,000 in ALFM GMAIF, a US dollar-denominated feeder fund that provides a stable stream of dividends and generates long-term capital growth.

 

“We are grateful for this partnership with BPI as we look forward to more collaboration between fintech and financial institutions moving forward. We are hoping this can help us broaden investment opportunities for Filipinos. By democratizing our products and making it more affordable and easier to understand, we can change the mindset that financial services such as investment funds and products are only for the wealthy,” said Martha Sazon, President and CEO of GCash.

 

BPI’s ALFM GMAIF presents a sound financial option given that it invests at least 90 percent of its assets into a single collective scheme, with investments including fixed income and equities. The funds are in turn managed by BlackRock, Inc., the world’s largest asset manager and one of the leading asset managers globally. Top holdings of ALFM include international companies such as Citigroup, Sanofi, JP Morgan, and Taiwan Semiconductor Manufacturing, and high yielding fixed income securities, among others.

 

Aside from the ALFM Global Multi-Asset Income Fund, GInvest users can also place a buy order for as low as P50 in the Philippine Stock Index Fund, which tracks the performance of the Philippine Stock Exchange index. Its top holdings include SM, Ayala, and BDO. Both BIMI funds are suitable for investors with aggressive risk appetites and have a five-year investment horizon.

 

GCash also has an existing partnership with ATR Asset Management Group (ATRAM), which manages some of the best-performing funds in the country such as mutual funds, trust assets, insurance portfolios, and real estate for proprietary and third-party clients.

 

Banks and other Electronic Money Issuers (EMIs) have seen GCash as a valued partner in expanding their retail investment offerings, an indicator of the trust placed by local financial institutions in the fintech company.

 

 

“The value of fintech is being realized in retail finance; GCash is here to support financial institutions in expanding their offerings digitally through the 51 million Filipinos that use our app,” added Sazon.

 

These latest funds bring GInvest’s fund offerings to seven, along with Money Market Fund, the Philippine Total Return Bond Fund, the Philippine Smart Equity Index Fund, the Global Technology Feeder Fund, and the Global Consumer Trends Fund. These affordable rates of P50 for local funds and P1,000 for international funds make GInvest by GCash one of the financial technology companies that offer low investment buy-ins.

 

The expanded investment opportunities have given unbanked Filipinos access to financial opportunities previously unavailable to them and brought GCash closer to its goal of achieving financial inclusion for all Filipinos.

 

For more information, visit www.gcash.com.

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LIfestyle | GCash Breaks Barriers to Further Boost Financial Inclusion in PH

GCash Chief Customer Officer Winsley Bangit

GCash gains more customer use as it further reaches communities in the country. Here's a story by GCash and it's advancement in the financial solutions in the nation.

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Leading mobile wallet GCash continues to break barriers to bring financial inclusion to more Filipinos nationwide, racking up over 51 million users and 3,500 merchants as demand for digital solutions skyrocketed amid the pandemic.

 

GCash Chief Customer Officer Winsley Bangit cited the gap that the e-wallet service addresses, with many Filipinos remaining unbanked as they find it difficult to apply for traditional financial services.

 

“They find it intimidating to go to a physical bank; more so, they lack the documents in opening such accounts. It is for this reason that we made sure that these services are accessible and democratic through technology,” Bangit said at the recently held 51st National Marketing Conference organized by the Philippine Marketing Association.

 

GCash requires only one ID to open an account with no minimum deposit requirement. Opening an account is done digitally and takes only a few minutes.  It can be completed anytime, anywhere.

 

On top of e-money and savings accounts, GCash offers insurance through GInsure for as low as P25 and investments through GInvest for as low as P100 for local funds and P1,000 for international funds.  GInvest has gained 70 percent of the home market for total unit investment trust fund (UITF) accounts in just seven months since its launch.

 

“Part of our principle is to remove as many barriers as we could. But more than the barriers of inaccessibility, we need to also hurdle the lack of understanding,” Bangit added.

 

When it comes to innovative products and services, the challenge always is to educate, he said. Filipinos need to be made aware of the products and services that they must have to uplift their lives and secure their future.

 

Bangit also noted the presence of digital hesitancy as people worry about the security and safety of their hard-earned money in virtual platforms. By investing heavily in safety and security, GCash continues to gain the trust of millions of users who have shifted to digital channels amid strict mobility restrictions due to the pandemic.

 

“At the back of our highly-reliable world-class platform, which also has top-grade fraud and risk mitigation capabilities, we're able to build trust from our customers.  The trust snowballed from our existing users having good experiences, and spread through word of mouth about how helpful, convenient and impactful it is to individuals, communities, and businesses alike,” he said.

 

Bangit said GCash will continue to educate Filipinos about using its digital payments, transfers and financing services, and build consumer trust to draw more users and help the country transition into a cash-lite economy.

 

The Bangko Sentral ng Pilipinas (BSP) has committed to shift 50 percent of total retail transactions to electronic channels and increase the number of Filipino adults with bank accounts to 70 percent by 2023 under its Digital Payments Transformation Roadmap.

 

With the global health crisis serving as a catalyst, preliminary data showed the share of digital payments to total retail channels increased to 30 percent in 2021 from 20.1 percent in 2020, while the number of Filipino adults with bank accounts hit 53 percent in the first quarter of 2021 from only 29 percent in 2019.

 

GCash is one with the Globe Group in strongly supporting the United Nations Sustainable Development Goals, particularly UN SDG No. 9, highlighting the roles of infrastructure and innovation as crucial drivers of economic growth and development. It is committed to upholding the UN Global Compact principles and contributing to 10 UN SDGs.

 

To know more about GCash, visit https://www.gcash.com.

 

Lifestyle | GCash Continuously Holds Top Rank on Mobile e-Wallet Services

GCash as e-Wallet

 GCash is one of the e-wallet service applications that I know and use. This application is really one of those that can give so much convenience transacting to merchants for paying bills, re-loading prepaid subscribers and other services. As a user, I am contented of its convenience.

Here's a story of GCash as it continuously dominates the e-wallet service applications in the Philippines:

GCash sustains growth and market leadership with over 51 million users as of end-October
 
GCash, the country’s largest mobile e-wallet service, continues to expand its digital ecosystem as it now has over 51 million registered users across the Philippines. This translates to around 70% of Filipino adults who have a GCash account.
 
The leading finance app has already breached its initial full-year target of PHP 3 trillion in gross transaction value, which is three times more than last year’s record number.  GCash’s user engagement also continues to grow, with the app being used on average more than 2.5 times a day by active users. Daily logins have likewise peaked at 23 million this year.
 
“We continue to embed GCash in the everyday lives of our users, which has in turn cemented our status as the undisputed market leader,” said Martha Sazon, GCash President and CEO. “We are proud to report that we have recorded four straight months of profitability, making GCash one of the few fintechs around the world that has proven that it can make money while providing accessible financial services to the public,” she added.
 
GCash maintains the largest digital ecosystem in the country, giving users access to a merchant and social seller base of about 3.9 million digital touchpoints. Its GLife in-app e-commerce platform has accelerated Filipinos’ shift to a digital lifestyle by bannering more than 250 merchant partners across various categories.
 
Aside from payments and money transfers, GCash’s expansive set of financial services now includes savings, loans, insurance, and investment. GInsure for instance, offers a variety of life & health insurance products made more accessible to customers nationwide.
 
GCash recently announced that it had raised over $300 million in funding, valuing the company at over $2 billion. “We are proud to be recognized as the country’s first tech unicorn, and a double unicorn at that, validating Mynt as the definitive fintech investment in the Philippines and quite possibly in the region,” added Sazon.
The latest investment round was led by global investment giant Warburg Pincus, New York-based global private equity and venture capital firm Insight Partners, and Bow Wave Capital, one of GCash’s existing investors. The round also includes participation from Itai Tsiddon and Amplo Ventures as well as capital from Globe and Ayala.
The Globe group strongly supports the United Nations Sustainable Development Goals, particularly UN SDG No. 9, which highlights the roles of infrastructure and innovation as crucial drivers of economic growth and development. Globe is committed to upholding the UN Global Compact principles and contributes to 10 UN SDGs.
 
To know more about GCash and 917Ventures, visit https://www.gcash.com/ www.917ventures.com.

Digital Lifestyle | Globe Gears Up for a Sustainable Digital Future

Sir Ernest Cu Talking About Digital Future

We are all gearing towards a digital transformation. There are everyday life challenges that can also be supplied with digital solutions. It is now an acceptable practice going digital but not all can still adopt the current changes. However, we are going digital... We have to harness the available digital technologies so that we can continue with our daily living amidst circumstances.

So, here's a story from Globe with its 917 Ventures subsidiary about sustainable digital future...

'Digital could be a lifeline for everything,' says Ernest Cu as Globe gears up for a sustainable digital future 

Globe is gearing up for a sustainable digital future for Filipinos using its robust and pervasive network to carry on technological advancements that could help address problems that people are facing.

Speaking during the “The Future of the ICT Industry” virtual forum led by the Department of Information and Communications (DICT), Globe President and CEO Ernest Cu said, “digital could be a lifeline for everything.”

“I think the biggest winner here is the Filipino. We believe that, given the limitations of this country, digital is truly the answer to help solve a lot of our problems.  In terms of future readiness, we are here to encourage digital use and arm our customers for a sustainable tomorrow,” Cu said.

He noted that with the accelerated digital adoption during the pandemic, millions of people now have access to financial services and highly affordable healthcare.

For instance, GCash, the country’s leading e-wallet service, now has 40 million users and 1.9 million merchants. GCash allows purchases, payments, and investments via mobile phones or tablets.  With GCash, even the unbanked sector can save money, get loans, buy insurance, invest in bonds and stocks, among other transactions.  

Through GCash, Globe wants to provide many more use cases supporting the efforts of the Digital Payments Transformation Roadmap of the Bangko Sentral ng Pilipinas (BSP).  The Roadmap aims to convert half of the total retail transactions to digital channels and raise the number of Filipino adults with bank accounts to 70% by 2023.

“While there's still a long way to go with increasing connectivity in the far-flung areas, GCash will extend inclusion to the far reaches of our economy,” Cu said.

The telco also continues to empower primary healthcare through KonsultaMD, which now has over one million members.  KonsultaMD is a 24/7 telehealth service that gives everyone unlimited consultations with licensed doctors for as low as P60 a month.

“We all know there's a dearth of doctors in this country, and there are no clinics in many parts of the country as well.  But now, through the phone, you can have voice or video consultations through KonsultaMD at a very low price.  Truly, this democratizes primary health,” Cu said.

GCash and KonsultaMD are portfolio companies under 917 Ventures, the country’s largest corporate venture builder wholly owned by Globe. 917Ventures helps consumers and businesses thrive and triumph in today’s challenging environment.  Its other companies are healthcare service integrator HealthNow, digital advertising solution provider AdSpark, customer loyalty and e-commerce solutions experts RUSH, and online grocery shopping platform, PureGo.

On the other hand, Globe’s corporate venture capital subsidiary, Kickstart Ventures, helps start-up companies flourish through funding and portfolio development.  “We hope that we’ll be able to provide access to Filipino companies that are growing so they can tap into the Globe and Ayala ecosystems and deliver the capital they need to grow and become a world-class player in various sectors that they participate in,” Cu said.

DICT Secretary Gregorio Honasan II said technology is constantly changing and ever-evolving around the world. New needs that are massively dependent on maximizing ICT use to thrive in the new normal have emerged.

“Today's cutting-edge innovations will be tomorrow's obsolete system. New ICT developments are more of the needs of the present and have the vision of a more inclusive and sustainable future. These advancements continue to shape and revolutionize various sectors of our society,” Honasan said.

Meanwhile, Globe’s massive infrastructure investments over the past years resulted in expanded coverage nationwide with 11,054 cell towers, 10,021 sites upgraded to 4G/LTE, 1,656 5G locations, and  526,774 fiber lines built.

“We have to keep up the never-ending CAPEX pressures that this industry has brought upon us. We also tried to bring about a seamless ecosystem of customer-centric solutions.  For us, the customer is at the forefront of everything we do. We want to serve them despite limitations for the pandemic and everything else,” Cu added.

Globe is also working closely with the Ayala Group in integrating sustainability practices into the group’s operations and programs.  “Our objective is to be a very socially and sustainably responsible company, because that way we ensure that this country and the world sustains itself throughout as we progress,” he said.

Globe is committed to upholding the United Nations Global Compact Principles and contributes to 10 UN Sustainable Development Goals, among which is UN SDG No. 9 that highlights the roles of infrastructure and innovation as crucial drivers of economic growth and development.

To know more about Globe, visit www.globe.com.ph.

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I have been among who have adapted the digital lifestyle and indeed, it pays off to become digital. However, we have to be very careful especially when phishing activities are around. Becoming digital also means to sustain the practice with more accuracy so that certain transactions will not be affected.

Thank you for visiting my avenue, www.ten7avenue.com. 

Digital Lifestyle | GCash: Philippines' Widely Used Digital Wallet

The pandemic has caused many people to shift from physical to digital transactions. Personally, prior to this pandemic, I have been mostly digital with many of my transactions so that the pass of currency bill or coins will be lessened as it will really lighten my pockets and spread of bacteria will also be lessen. Indeed, it is more convenient doing digital transactions, but we have to be very careful with details. With this convenience, there are also transaction fees included in the payment which I hope will also be lessen or at least made zero.

Actually, what I liked most with GCash is its partnership with CIMB Bank - a digital bank with many advantages also compare to conventional banking system.

Anyways, here's a story from Globe about GCash's shining moment as digital adoption in the Philippines took place.

GCash is ‘trailblazer’ of PH digital adoption

1 in 3 Filipinos on GCash

 

Mobile wallet leader GCash continues to boost the financial inclusion efforts of the Bangko Sentral ng Pilipinas (BSP), onboarding more Filipinos into the financial system as digital transactions become an indispensable part of the lives of consumers due to mobility and travel restrictions.

 

GCash has grown its registered base to over 33 million as of last year or 65 percent higher compared to the 20 million users in end-2019, showing that almost one in three Filipinos now has a GCash account.

 

Martha Sazon, CEO of Mynt which operates GCash, said the company has emerged as the “trailblazer” of Philippine digital adoption.  “GCash continues to empower more Filipinos with digital financial tools and services, allowing for safe and convenient transactions amidst the various levels of quarantines,” Sazon added.

 

Filipino consumers have adjusted to the new normal by adopting, among others, fintech services to make their financial lifestyles more convenient and to keep themselves safe against COVID-19.

 

Being the preferred mobile wallet in the Philippines, GCash exceeded its targets last year with transaction value hitting over P1 trillion, peaking at a P7.5 billion daily gross transaction value, and with more than 6 million transactions in a day.  Transactions include cash-ins, payments, banking, and money transfer, among others.

 

BSP Governor Benjamin Diokno has committed to transform the Philippines into a cash-lite from a cash-heavy economy by converting 50 percent of the total retail transactions in terms of both value and volume to digital channels by 2023. The BSP also aims to convert the country into a coinless society by 2025 and to double the percentage of Filipino adults with bank accounts to 70 percent by 2023.

 

Based on App Annie surveys, GCash emerged as the number one finance app in the country, ahead of global social media and entertainment apps, like Spotify, Viber and TikTok, among others. 

 

Various social media posts as of late also showcase the increasing adoption of GCash, even for fishermen selling the day’s catch and accepting GCash as payment. “This is a true picture of how GCash is moving towards our vision of finance for all.  We have come a long way,” Sazon said.

 

Last January, GCash attracted $175 million in fresh capital investment from Bow Wave Capital Management to further spur the growth of financial inclusion and the digitization of payments and financial services in the Philippines.

 

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is one of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom, Inc.

 

To know more about GCash, visit https://www.gcash.com/

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On the other hand, there are also many other digital wallets available in the country with its advantages also. Indeed, having options will really help minimize some costs like paying bills or buying some load with rebate. Those are some of the factors that matters to me and thank you for these innovations.

Thank you for visiting my avenue, www.ten7avenue.com.

Digital Lifestyle: GCash - Philippines' Top Finance App

I am among those who will really appreciate the use of digital wallet in many shops, and paying bills to lessen the close contact interaction in exchanging of paper denominations. Indeed, it is a milestone for GCash to be recognized as the top finance app by App Annie data in the Philippines. I have been a user for quite sometime now, even before the pandemic, so here's the story:

Since the start of the year, both Android and iOS users have chosen GCash as their finance app of choice, according to data from App Annie, the leading mobile data and analytics company, which found GCash as the top downloaded finance app with the most number of active users. 

For nine consecutive months since January, GCash has been consistent in staying at the top spot for the two categories, reflecting the Filipino’s choice for their digital banking and finance needs and helping more people participate in the financial landscape. 

This means that GCash was also the top financial technology (fintech) app during the period under review. 

“Once again, GCash proved that it is indeed the leading fintech app in the country as it is the most trusted and partner finance app of Filipinos in navigating the pandemic towards the new normal,” GCash President and CEO Martha Sazon said.

According to App Annie, a reputable global app ranking authority, GCash has recorded a breakthrough of over 10 million app downloads in just the first nine months of 2020, and registering a whopping 130 percent app active user growth in September compared to the beginning of the year.

It added that the leading fintech app has been growing by 13 percent monthly on average.

The figures reflected the Filipinos’ growing reliance on digital finance to manage their personal finances and to carry on with their daily lives while also staying safe with contactless transactions provided by fintech apps like GCash.

“We saw GCash downloads and active user base reach remarkable heights in the span of months during the pandemic as Filipinos are adjusting to the stay-at-home lifestyle. We observed how people rapidly adopted the use of fintech apps in their everyday lives and how it impacted their way of life. And we are proud to say that GCash is leading the revolution towards that cashless lifestyle of the Filipinos,” Sazon said. 

Because of the pandemic, GCash strived to further develop its platform from a convenient mobile wallet to a holistic finance app which offers essential services for the Filipinos to adapt to the new normal lifestyle.

With GCash, people are empowered to do more even in the comforts of their homes. They can shop and do contactless payments via QR codes or online modes of payment via send money. 

They can also pay their bills, send money to bank accounts or to any GCash account, buy load, save money, borrow money, invest, get insured and many others.

 

Aside from consumers, GCash has also empowered businesses to thrive in the pandemic by providing them with enterprise-grade payments, disbursements, and even digital rewards solutions to bring them closer to their customers. 

GCash is also a strong partner of the government in the collective fight to win the national health situation. It has assisted both the national and various local governments in disbursing financial assistance to those who were adversely affected by the pandemic. 

“Filipinos turned to fintech to address their personal finance concerns. And GCash has a wide array of service offerings which provide them with the necessary financial tools that will aid them in going about their everyday finances,” Sazon said. “Financial technology still serves as the bedrock of digital services, empowering Filipinos to do more with less.”

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.

GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/. You can also check on referral code: https://gcsh.app/r/u7dzpZv and you are very much welcome! :D

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Lifestyle | More Filipinos Opting for Digital Lifestyle

More cashless transactions for Pinoys: GCash is top finance app for Android, iOS

With the recent development of the pandemic in the world, here in the Philippines, many Filipinos are opting to go cashless and GCash is among the leading mobile wallet provider in the nation. GCash is said to be one of the top finance application for both Android and iOS devices. It is indeed an indicator that more Filipinos are getting digital in their financial needs. 

As of May 15, GCash was the only finance app in the top 10 list of free applications for Android. It also ranked fourth on the overall list of free mobile apps in Google Playstore. For iOS, GCash topped the finance division in the App Store and ranked second after Zoom Cloud Meetings on its free apps list. This shows how GCash has transformed from a convenient mobile wallet to a lifestyle app that enables Filipinos to do more with less, as they embrace the new normal.

“The national health situation has caused more Filipinos to be mindful of their personal finances. As a powerful tool that provides financial services to the masses, GCash is enabling its users to manage their personal finance better than traditional means,” GCash Chief Technology and Operating Officer Pebbles Sy said.

A white paper released by AdSpark, Inc., a portfolio company under Globe Telecom’s 917Ventures, showed that consumption of Personal Finances as a topic grew by 800 percent from January 2020 to end of March 2020 when most Filipinos were required to stay at home.

Global Web Index, which surveyed people on how they foresee the impact of the situation on their personal finances, found that 65 percent of Filipinos surveyed believed that the pandemic will have a huge impact on their personal finances, while 15.7 percent believe that the effect could be even greater.

“Due to uncertainties brought about by the national health situation and the limitations set by the government to help curb the spread of the virus, Filipinos are looking for various ways to address their personal finance concerns. GCash is here to provide them with the necessary financial tools and services that will help them in managing their finances,” Sy said.

As a mobile wallet, GCash allows users to pay for their digital and physical transactions through the GCash app. GCash also allows users to pay their bills, buy airtime load, and transfer funds to any GCash account or to other banks.

Users may also avail of GCash’s savings service, GSave, which offers better-than-industry interest rates; GCredit, which allows them to tap into a credit line for emergencies; invest in money market funds; and GCash Insurance, which allows them to avail of very affordable insurance plans.

“We have seen a huge growth in terms of volumes of transactions in our platform during the community quarantines. We saw people transacting with merchants physically through QR and Barcode and digitally through money transfers. We also saw a lot of people donating to causes, one of which is our native fundraising drive called #FightCOVID19. Our platform has empowered more people in taking care of their personal finances,” Sy said.

GCash saw app installations grow by 2x during the community quarantine, while registrations rose by 2.5x, and app referrals increased by another 2x.

“This is a reflection of how Filipinos are growing more trusting of digital finance, which we believe will be a huge player in implementing the so-called ‘new normal.’ Financial technology will serve as the bedrock of digital services -- those that will empower Filipinos to do more with less,” Sy said.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.

Comment: I am also among those who are using this application. It does a lot of convenience and I can transmit any amount of money any time any where as long as the application is not upgrading or I have good internet connection. The only thing that is off for me is the limit, a hundred thousand limit every month, that includes amount that goes in and out - confirmed or denied. Nevertheless, I am happy with it. :-) 

GCash is available for download on the App Store and Google Play. Try to use this QR, below:

For more information, kindly visit https://www.gcash.com/.

Thank you very much!