GCash expands its financial services

GCash just expanded its financial services to provide opportunities for everyone.

GCash expands financial service to provide "finance for all"

GCash "Finance for All"

GCash expanded their services with GCredit, GScore and Invest Money

The Philippines has the most potent environment for financial inclusion in Asia. It ranks number 4 worldwide in a 2018 study done by the Economist Intelligence Unit in terms of the enabling environment for financial inclusion across 5 categories and 55 countries. The Philippines improved opportunities for financial inclusion by having banking and non-bank financial institutions, e-money issuers, and cross-border payments providers that actively reach out to the population.

Financial inclusion means having formal financial products and services available to all segments of a population regardless of their economic standing. It has a socio-economic impact that can be a game-changer in emerging markets. With the rapid growth of mobile phone usage combined with technological innovations and growing income levels, platforms such as GCash emerge.

GCash is a popular mobile money platform in the Philippines. This app allows transactions with its scan-to-pay or PayQR features. It expanded its services over the years such as GCredit, GScore and Invest Money.

GCash was able to address a lot of consumer issues through its mobile platform. These issues include lack of cash on hand for emergencies, lack of documentation needed in order to open an account or credit line.

They pride themselves with their vision of "Finance for All" which aims to design their products and services for both banked and non-banked people.  GCash knows the importance of instilling responsible financial habits to their users which lead to the creation of GScore.

GScore assess a person's financial capacity based on the data built upon by the users relationship with the app along with key personal identifiers. During the first month of its implementation, data proved the belief that Filipinos cannot manage their finances wrong.

GCash also announced Invest Money which is an in-app investment marketplace that starts at PHP 50. This helps users build a financial portfolio and in turn build wealth.

What do you guys think?