GCash gross transactions reach PHP 3.8 trillion in 2021

Globe's mobile wallet GCash recorded a strong performance last year, with gross transactions hitting PHP 3.8 trillion against the PHP 1.2 trillion booked in 2020.

File photo: GCash shot

GCash records robust performance in 2021

In a statement, the telco said GCash ended 2021 with 55 million registered users, 4.5 million merchants and social sellers, 290 GLife merchant partners, and around 174,000 cash-in and cashout agents.

Last year, GCash also achieved the "double unicorn" status after it reached a valuation of more than USD 2 billion. This 2022, Globe expects the mobile wallet to keep its momentum as it offers more services.

Filipinos are increasingly adopting digital, including fintech, and those who are using it are actually very happy and entrenched… GCash has even become a verb. People say "paki-GCash mo na," and we see that the behavior formed during the lockdown is sustained even as the economy opens up, said GCash president and CEO Martha Sazon.

Sazon said GCash's priority is "to take further steps towards our vision of finance for all."

GCash is also looking at expanding its investment products to cover cryptocurrencies and stock trading.

Source: GMA News