by Penny Angeles-Tan | Oct 19, 2023 | Business
GCash expressed its full support for the Commission on Elections (COMELEC) Resolution No. 10946, also known as “Kontra-Bigay”, ahead of the upcoming Barangay and Sangguniang Kabataan elections.
Officials from the fintech company attended the campaign’s launch at the Palacio del Gobernador in Intramuros, Manila, earlier in September. The launch was also attended by distinguished representatives from lead agencies such as the Department of Justice (DOJ), Philippine National Police (PNP), Armed Forces of the Philippines (AFP), Integrated Bar of the Philippines (IBP), Office of the Solicitor General (OSG), Public Attorney’s Office (PAO), Anti-Money Laundering Council (AMLC), Department of Education (DepEd), as well as prominent election-focused NGOs like National Citizens’ Movement for Free Elections (NAMFREL), Parish Pastoral Council for Responsible Voting (PPCRV), and Legal Network For Truthful Elections (LENTE).
COMELEC Resolution No. 10946 aims to combat online vote buying and selling by establishing a Kontra-Bigay Committee and expanding the existing vote-buying regulations under the Omnibus Election Code and its Implementing Rules and Regulations, as well as the other rules and regulations issued by COMELEC.
One of the most significant highlights of the newly passed resolution is its recognition of online banking transactions and the use of e-wallets as potential channels for vote buying under Section 30. During the launch, COMELEC emphasized its authority to scrutinize the financial details of account holders suspected of involvement in such illicit activities.
“GCash reiterates its unwavering commitment to cooperate fully with the COMELEC in the fight against online vote buying. The company recognizes the critical role fintech companies play in safeguarding the integrity of elections by preventing the misuse of digital financial tools for unlawful purposes,” said Martha Sazon, president and chief executive officer of GCash.
GCash believes that fostering transparency, accountability, and trust in financial transactions is paramount to ensuring fair, honest, and inclusive elections that reflect the people’s will.
“We remain committed to upholding the highest standards of transparency and security in financial transactions and will actively support the COMELEC in their efforts to maintain a level playing field for all candidates and voters,” added Sazon.
As the country’s no. 1 finance super app, GCash embraces its responsibility in ensuring that not only finance but also democracy is for all.
About GCash
GCash is the Philippines’ #1 Finance Super App. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones.
GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines, which is a part of the country’s leading digital solutions platform, Globe Group.
GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
by Ferry Bayu | Oct 6, 2023 | Business
GCash launches prepaid debit card in partnership with Visa
GCash has launched a prepaid debit card in partnership with Visa to help its users with cashless payments.
In a statement, GCash said fully verified users of their app can get the card by go to ”View all”, then find the “Manage” section. Users can then click on “Cards” and tap “Order a GCash Card”.
With the GCash Card, customers can make cashless payments in groceries, restaurants, retail stores, transportation, and make online payments.
The partnership with Visa also means the card can be used in over 200 countries and territories, at over 100 million merchants that accept Visa as payment.
Users who have availed of the GCash Card will also have access to GInsure, where they can get free insurance of up to P20,000 coverage for unauthorized transactions for the first 30 days after activation.
This also includes the P185 price for card replacement in the event of accidental loss or damage to the card, as well as the shipping fee of up to P225.
G-Exchange president and CEO Ren-Ren Reyes said the card will be helpful for Filipinos with informal sources of incomes like freelancers and independent professionals as well as micro and small enterprises.
“GCash is giving every Filipino, whoever or wherever they are, the benefits of owning a card, especially those with no bank accounts or documents typically required to apply for a card,” he said.
by Ferry Bayu | Sep 22, 2023 | Business
CIMB Bank PH posts unprecedented growth in H1 2023; poised for strong year-end closing
MANILA, Philippines — Digital-only commercial bank CIMB Bank Philippines delivered impressive financial results for the first half of 2023, with its revenues growing to nearly 240% from its figures in the same period last year.
The bank’s exceptional performance can be attributed to the growth in its loan portfolio, which grew a record-breaking 150% in the aforementioned period.
Its customer base grew from 6.47 million in 2022 to 7.13 million as of June 2023, showing a robust rise from previous year.
Deposit customer count grew from 5.70 million in 2022 to 6.02 million, while loan customers have breached 2.56 million, showing a 40% growth of loan customers from year-ago figures.
CIMB also saw an increase in debit card transactions and usage, due to the launch of the CIMB Virtual Debit Card. Powered by Visa, the CIMB Virtual Debit Card enables Fast Plus, GSave or UpSave account holders to transact online using their savings accounts, safely and securely.
The virtual cards reinforce the bank’s embedded banking business model in providing accessible financial solutions to Filipinos and are in alignment with the Bangko Sentral ng Pilipinas in strengthening customer preference for digital payments. The bank currently has close to 500,000 Visa virtual and physical card customers.
Buoyed by the strong numbers, CIMB Bank PH CEO Vijay Manoharan expressed his satisfaction and gratitude, stating, “This sustained growth puts CIMB in a stronger position to support our customers by helping them achieve their life purpose and goals. We would like to thank them for their unwavering support, and rest assured that we have more exciting products and services in the pipeline, as well as new areas and segments to serve in the near horizon.”
CIMB Bank’s strong financial performance for the first half of 2023 is further underlined by its “Number one bank in the Philippines” citation by Forbes World’s Best Banks Ranking, as well as being hailed Best Bank in the Emerging Markets by Global Brands Magazine.
Its proprietary CIMB Bank Philippines Mobile App was also chosen as Best Mobile Banking App – Philippines by Brand and Business Magazine.
The bank pioneered the first-of-its-kind embedded banking model in the country, serving customers with cutting-edge digital savings and lending propositions anchored on simplicity, convenience, high value and the convenience of no fees for savings accounts, as well as attractive personal, revolving and buy-now-pay-later loan products and schemes.
CIMB has partnerships with financial powerhouses GCash and Visa, and the e-commerce platform Shopee. It is set to announce new strategic partnerships soon as well plans of expansion into new customer segments.
by Penny Angeles-Tan | Sep 20, 2023 | Business
In line with their shared goal to promote and strengthen financial inclusion for Filipinos nationwide, the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG) recently rolled out the Paleng-QR initiative in Mandaue City in collaboration with GCash, the Philippines’ leading mobile wallet.
Under the joint initiative, market vendors and tricycle drivers in Mandaue Public Market can easily transact with their customers through GCash QR codes. With this, both vendors and consumers can have a safer and more seamless shopping experience. Moreover, this initiative ultimately boosts the growth of the digital ecosystem, especially in the grassroots economy.
BSP representative Atty. Charina de Vera-Yap, DILG 7 Regional director Leocadio Trovela, and Mandaue City Mayor Jonas Cortes enjoy the 1-peso street food GTreats at the GCash booth.
Locals also enjoyed exciting treats in GCash booths at the Mandaue Public Market, where they were able to experience safer and more convenient cashless transactions first-hand. With the program’s entry into the city, GCash has so far onboarded a total of 561 out of 700 market vendors in Mandaue Public Market and 100 members of the local Tricycle Operators/Drivers Association (TODA) to allow payment through the app.
In addition to providing a safer and more convenient cashless experience to vendors and their customers, GCash is also set to onboard more small merchants for GCash Pera Outlet (PO) in the city. This feature allows vendors and small merchants to earn extra income and grow their businesses by offering customers in their communities access to various GCash services such as Cash-in, Cash-out, Pay Bills, and Send Money. Currently, there are already a total of 1,006 vendors and merchants for GCash PO in the city.
Mandaue City Mayor Jonas Cortes pays via QR at a fruit stand in the Mandaue City Public Market.
GCash will also conduct financial literacy sessions (FinLit) to educate its users about different wealth management options in GCash, such as GSave, GInsure, GLoans, GInvest, and more, that can help them grow and secure their accounts.
“We are very grateful to the BSP, DILG, and GCash for expanding the Paleng-QR initiative in the city. With this initiative and through GCash’s convenient services, small merchants, tricycle drivers, and consumers can now enjoy a hassle-free payment experience for their everyday transactions and have access to the various benefits of digital financial solutions. We are honored and open to having more strategic partnerships that will help Filipinos have secure and better lives,” Mandaue City Mayor Jonas Cortes said.
Driven by its shared vision of “Finance for All,” GCash, BSP, and DILG have already onboarded more vendors and tricycle drivers for the Paleng-QR initiative in various public markets in various communities all over the country.
Together with the public sector and Local Government Units (LGUs), GCash continues to build a reliable digital ecosystem to promote sustainable adoption of online financial services and make Filipino lives better every day.
About GCash
GCash (G-Xchange, Inc.) is the #1 Finance App in the Philippines. Through the GCash App, users can easily purchase prepaid airtime; pay bills at over 1,600 partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones.
GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only duacorn in the Philippines, which is a part of the country’s leading digital solutions platform, Globe Group.
GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion, as well as taking urgent action to combat climate change and its impacts, respectively.
by Penny Angeles-Tan | Jul 8, 2023 | Lifestyle Tips
The Philippine National Police Anti-Cybercrime Group (PNP-ACG) and GCash, the leading mobile wallet in the country, remind the public to be careful against so-called lottery scams.
“The modus operandi of these scams begins with victims receiving notices of winning a grand prize for a competition, lottery, or sweepstakes. Scammers will send these announcements through email, phone calls, text messages, or social media. To claim the prize, victims are asked to pay for insurance, taxes, bank fees, and courier charges. As if that wasn’t enough, the scammers also request personal financial information to verify the victim’s identity, which they exploit to initiate an account takeover,” said PNP-ACG Spokesperson, PCapt Michelle Sabino.
To avoid these scams, the PNP-ACG and GCash are providing valuable tips to the public.
- It is important to carefully inspect any envelopes received from sweepstakes mailers, paying close attention to the details.
- Never divulge personal information to individuals who solicit it through email, SMS, or phone calls claiming that you have won a prize.
- Always take the time to read and understand the fine print in lottery or sweepstakes forms, ensuring you are aware of important information such as the start and end dates, methods of participation, and any legal disclaimers.
“By following these precautions, you can safeguard yourself against potential scammers and cybercriminals,” Sabino explained.
GCash reiterates its warning to users to never share their MPIN or OTP with anyone and to avoid clicking unknown links from websites, emails, or messaging apps.
For assistance, users can contact the PNP-ACG through their hotlines at (02) 8414-1560 or 0998-598-8116, or via email at ac*@*****ov.ph.
To report scams and other fraudulent activities, users can also visit the official GCash Help Center at help.gcash.com, message Gigi, and type “I want to report a scam.” Customers can also reach out to the official GCash hotline at 2882 for inquiries and other concerns.
For more information, visit www.gcash.com.ph.
About GCash
GCash (G-Xchange, Inc.) is the #1 Finance App in the Philippines. Through the GCash App, users can easily purchase prepaid airtime; pay bills at over 1,600 partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6M partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only duacorn in the Philippines which is a part of the country’s leading digital solutions platform, Globe Group.
GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
GCash is the Philippines’ #1 Finance Super App. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones.
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