GCash banners overseas expansion in London Tech Week 2023
The Philippines’ biggest financial super app, GCash, banners its global expansion at the London Tech Week 2023, highlighting its mission of providing every Filipino access to important financial services wherever they may be.
Speaking at one of the panel discussions during the 3-day event, GCash chief technology and operations officer, Pebbles Sy, shared to an audience of global tech leaders and movers the fintech firm’s push for financial inclusion.
“GCash’s story is about how we support the Philippines’ journey to become a digital, cashless, and financially inclusive economy, by providing financial access to Filipinos wherever they are,” Sy said.
Sy talked about how the e-wallet is solving the everyday problems of Filipinos, while it seeks to reach the over 10 million Filipinos living and working abroad.
“We recently launched GCash Overseas, allowing Filipinos to use their international SIMs to use GCash. We launched it in six countries, the UK included, where there are 200,000 Filipinos who we are very excited to serve,” she noted. “We also introduced Global Pay, our cross-border payment experience, so that OFWs and overseas travelers in 9 countries including Japan, France, and the UK can pay seamlessly via QR with real-time forex charging.”
Because of GCash Overseas, Filipinos abroad can now start sending money to their loved ones back home, pay bills, as well as buy load credits wherever they are.
Aside from Sy, GCash president and CEO Martha Sazon and other key executives are in the UK for the event. The GCash delegation attended receptions hosted by Rt. Hon. Kemi Badenoch MP, the Secretary of State for the Department for Business and Trade, and His Majesty’s Trade Commissioner for Asia Pacific, Natalie Black. Cybersecurity was also a top agenda with talks on latest technologies and practices to combat financial crimes led by UK Cybersecurity Ambassador Juliette Wilcox CMG.
“We are excited to build relations and explore partnerships with the diverse leaders and organizations we meet – especially as these can open opportunities to work together towards our vision of Finance for All,” Sy noted.
As the most used financial super app in the Philippines, GCash has helped many Filipinos gain access to send money services, savings, lending, insurance, and investments – helping increase the country’s banked population to 56%.
It has disbursed P74 billion of loans to 2.8 million Filipinos as of the first quarter of 2023, with two out of every three borrowers located outside the country’s capital region of Metro Manila, are part of lower socio-economic classes, and are women. Likewise, one in four banked Filipinos own a bank account through GCash’s savings feature, GSave while three out of four unit investment trust funds (UITF) are conducted through GCash.
Amid these inclusion milestones, GCash prides itself as te Philippines’ only double unicorn – having a valuation of over USD$2 million. GCash is committed to having the most trusted and secure platform, in line with its goal of achieving financial inclusion.
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