GCash drives PH digital transformation, hits over PHP 1 Trillion Transactions in 2020

GCash, the undisputed leader and preferred mobile wallet in the Philippines, exceeded its 2020 business targets, one of which is hitting its PHP 1 trillion transaction commitment earlier this year -- an impressive 254% YoY growth -- while it continues to empower millions of Filipinos with digital financial tools and services that helped them adapt into the new normal. 

The service peaked at PHP 7.5 billion daily gross transaction value, and more than 6 million transactions a day. Meanwhile, its customer base ballooned to more than 33 million -- a third of the Philippines’ national population -- coming from 20 million in 2019.

“The remarkable growth GCash experienced this year shows that Filipinos have embraced financial technology. People have realized that fintech isn't just an option but a necessity, allowing them to fulfill their financial lifestyle conveniently,” said Martha Sazon, President and CEO of GCash.

GCredit users may now transact with over 17,500 billers and merchants nationwide

GCash, the undisputed leader and preferred mobile wallet in the Philippines, has empowered its over 20 million users to transact with over 17,500 establishments via GCredit, the pioneering mobile-first digital credit facility powered by Fuse Lending, Inc. that helps extend the budgets of GCash users.

As the demand for more digital services continuously rises amid the pandemic, GCash has partnered with over 17,500 merchants to accept GCredit as a mode of payment. This allows GCash users to use a revolving credit facility to purchase goods and services, especially during emergencies.

GCash forecasts to handle P1 trillion in transactions this year

As the new normal pushes the economy to go cashless, GCash, the undisputed leader and preferred mobile wallet in the Philippines, expects to handle at least P1 trillion in transactions by the end of 2020.

Safety protocols and limited mobility during the pandemic have changed the conventions of financial transactions at present and for the foreseeable future. Thus, GCash recorded an increase in volume of transactions in the past few months, driven by use cases such as Save Money, Bank Cash-In, Peer-to-Peer Transfers, Bank Transfer, and Online Payments.

GCash records P100B in transaction value

GCash, the undisputed leader and preferred mobile wallet in the Philippines, has breached P100-billion in terms of transaction volume during the first seven months of 2020.  The mobile wallet is empowering millions of Filipinos with digital financial tools and services that help them adapt to the new normal.

The volume is an impressive 280-percent surge from the same period in 2019, when GCash transactions reached P28 billion.

Scan-To-Pay With GCash at 7-Eleven

Cashless transactions are now growing this year with more people opting to pay using their phones than with cash. And recently GCash found a new partner with this type of payment with the largest convenience store chain in the country.

7-Eleven is known all over the country as the 24 hour store that many would go for a quick bites, supplies, charging, loading, and sometimes delivery and gadgets. For the longest time, the only connection between the two is the Cash-in option to load on their e-wallets. 

Dragonpay's SureTayo App Now Available WIth Nikki Valdez As Endorser

Payments are now made easier and secure on both partis with the help of Dragonpay’s new app SureTayo which is now available via mobile. The launch spell good news to online businesses and customers who make their transactions over the internet.

With the rise of e-commerce worldwide, everybody wants to try to have their own business online. Since setting up one can be very easy, you can practically sell anything online. However the most crucial part of any store is the monetary transactions that will complete the sale between the seller and customer. 

OPEN 4 BUSINESS: Smart crowns ‘Favorite Online Store’ for 2011

The votes are in and the shoppers have spoken as leading wireless services provider Smart Communications, Inc. (Smart) awards fashion retailer Asian Vogue Shop (asianvogue.multiply.com) as the winner of the first Smart Money "Get Shop Spotted" promo.

Having bested 153 other applicants, Asian Vogue Shop proprietor Angel Del Rosario scored the highest marks in the contest's inaugural year earning her site the title of ‘Favorite Online Store for 2011’. Del Rosario also took home a P50,000 cash prize which was credited via Smart Money.