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GCash transactions seen hitting PHP 2 trillion this 2021

Mobile wallet giant GCash expects transactions this year will double to a whopping PHP 2 trillion as more Filipinos realize the advantage of tapping digital payment systems.
GCash transactions seen hitting PHP 2 trillion this 2021
File photo: GCash app

GCash continues strong momentum this 2021

According to Globe President and Chief Executive Officer Ernest L. Cu, more customers are now taking advantage of digital payment methods as the pandemic continues to limit their mobility.

The executive stressed GCash has become "an extension of the Filipino digital life" amid the global health crisis, making it the top financial app in the Philippines.

I believe the number that we are targeting in gross transaction value is over P2 trillion this year. We crossed P1 trillion in 2020 and we hope that the value keeps going up because that means people are really transacting over our platform, Cu said.

Currently, GCash boasts 40 million accounts as of end-April. The number of active users of GCash also surpassed international apps like Spotify and Viber, Cu claimed.

GCash also has 1.6 million partner merchants and social sellers. Aside from cashless payments, the platform is also offering financial services such as investments, insurance, and savings.

In GCash, we pride ourselves in promoting nationwide financial inclusion, true to our goal of Finance for All. It has become ubiquitous with the needs that have arisen during the pandemic, Cu said.

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