GCASH seals leadership in financial technology

Globe, the leading telecommunications company in the Philippines and GCash, the leader in fintech solutions for Filipinos will  co-present the first World Fintech Festival (WFF) in the Philippines together with the Monetary Authority of Singapore (MAS). Geiser-Maclang Communications Inc. is the convenor of the WFF-PH which is slated to happen on December 7-11, 2020.  

The WFF features the best in financial technology (fintech) practices and serves as a platform for global executives in the banking and fintech industry from over 140 countries to exchange ideas, best practices, and learn from societal impact studies. 

GCash takes premium position for leading the country that has seen a stark rise in financial technology innovations over the past months due to the natural shift of consumers to digital solutions as a way of life. Despite going virtual, the festival is expected to bring the public and private sector together to help build inclusive digital economies. 

Sopnendu Mohanty, Chief Fintech Officer of the Monetary Authority of Singapore (MAS)  in a press event held last month said, “The true test of a company’s strength comes from a crisis – and the businesses in the Philippines have truly demonstrated this.” He also emphasized that digitizing SMEs and investing in infrastructure are key elements to the success of fintech. 

One of the best examples of this success is GCash.  The country’s leading mobile wallet app is an example of how fintech solutions have been pivoting to continuously serve its customers’ needs.

Martha Sazon, President and CEO of Mynt and Chairman of the EMoney Association of the Philippines Inc, shared in the press event that the non-contact revolution has given rise to digital payments and users themselves are the ones creating use cases for fintech services. “GCash has complemented the stay-at-home lifestyle. We are a wallet now to help keep up with everyday transactions. We are used at least twice a day, everyday. By the end of December 2020, we are tracking Php 1 trillion in gross transaction value.  This was our vision  for 2023, yet this was brought to life this year,” Sazon proudly said.

GCash has extended its services to enable various LGUs to empower its residents with much needed financial assistance during the pandemic through its range of services and ease of use. In the same light, GCash now has GLife, wherein users can also shop and play. This highlights the company’s pervasiveness in creating an app that not only serves their growing customer base’s needs but also seamlessly complements their lifestyle. 

Amor Maclang, co-founder of GMCI said, “As executive director of Fintech Philippines Association, we have closely looked at GCash as one of the important barometers  tor growth in our industry so it’s our honor to have GCash co-present the premier World Fintech Festival Philippines”.

Globe 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 10 United Nations Global Compact principles and 10 UN SDGs.

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