TESDA taps GCash as fintech partner for scholars’ training subsidy

GCash, the undisputed leader and preferred mobile wallet in the Philippines, further establishes itself as the fintech platform of choice for government agencies as TESDA taps the platform to distribute training subsidies to its scholars. Under the agreement, scholars will receive up to PHP 160.00 per training day from the agency through GCash.

TESDA’s adoption of GCash is seen as a move by the agency to achieve efficiency during the pandemic further, as assistance distribution will be remitted digitally, saving its scholars the trouble of going to field offices or claim centers to receive funds. Their shift to cashless also allows for contactless transactions, mitigating the impact of COVID-19 on its employees and students, amidst the ongoing implementation of GCQ.

“GCash has been actively supporting the government in delivering much needed support to Filipinos since the onset of the pandemic. We understand that fintech plays a key role in carrying out social assistance programs faster and safer, especially now that we are still figuring out how to transition back to normalcy,” said Martha Sazon, President and CEO of GCash.

Qualified beneficiaries need only to download the GCash app on their smartphones and coordinate with authorized TESDA representatives to receive their training subsidy.

TESDA Secretary Isidro Lapeña also noted that the agency has been looking for ways of continuing to serve its clients without exposing them to COVID-19.

"At the early stages of the pandemic, I have already instructed our Regional Operations Management Office to find a safe and effective way on how we can distribute Training Support Fund to our scholars in this pandemic. Now that we have this partnership with GCash, this can really help our kababayans, especially the ones who are in the far-flung areas," Sec. Lapeña said.

With GCQ still in full swing, both private businesses and government entities alike have been looking for ways to make cash distribution frictionless, and most have relied on mobile money for transactions.

Earlier this year, GCash was tapped by the DSWD, and other LGUs such as Makati and Quezon City, to distribute SAP and other social assistance programs to qualified beneficiaries and constituents. To date, the mobile wallet company has already distributed over PHP 16 billion to more than 2 million Filipinos nationwide in financial assistance.

“Fintech is not a trend; it’s here to stay to continue supporting the financial lifestyle of Filipino consumers and businesses under the new normal. Aside from offering a layer of safety against the pandemic, it also empowers users a more practical and convenient approach of managing their finances. GCash serves as a one-stop shop in receiving money, paying bills, transacting online, and even sending money to inaanaks and pamangkins this holiday season,” Sazon added.

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.

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