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+ February 24, 2021 MOBILE wallet leader GCash continues to boost the financial inclusion efforts of the Bangko Sentral ng Pilipinas (BSP), onboarding more Filipinos into the financial system as digital transactions become an indispensable part of the lives of consumers due to mobility and travel restrictions.
GCash has grown its registered base to over 33 million as of 2020 or 65 percent higher compared to the 20 million users in end-2019, showing that almost one in three Filipinos now has a GCash account.
Martha Sazon, chief executive officer of Mynt which operates GCash, said the company has emerged as the “trailblazer” of Philippine digital adoption. “GCash continues to empower more Filipinos with digital financial tools and services, allowing for safe and convenient transactions amid the various levels of quarantine,” Sazon added.
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Contributed photo February 18, 2021 GCASH, the undisputed leader and preferred mobile wallet in the Philippines, launched QR on Demand, a new money transfer feature that allows for more security and convenience for its users, letting them send and receive money using their own personal QR.
QR on Demand’s Send via QR lets its users scan or upload another customer’s QR code, so users are assured that they’re sending money to the correct person. This also eliminates the process of having to enter a mobile number manually, making the process of sending money faster, and avoids money incorrectly sent to wrong numbers.
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+ February 12, 2021 GLOBE Fintech Innovations Inc. (Mynt), the Fintech (financial technology) arm of Globe Telecom and operator of the country’s preferred mobile wallet in GCash, has attracted fresh capital investment from ASP Philippines LP, a limited partnership fund managed by investment firm Bow Wave Capital Management (Bow Wave), to further spur the growth of financial inclusion and the digitization of payments and financial services in the Philippines.
Mynt raised over $175 million in fresh capital from Bow Wave and its existing shareholders in multiple tranches, with post-money valuation of the final tranches at close to $1 billion.
“This investment from Bow Wave is a validation of both what we have accomplished as well as the potential of GCash in unlocking digital services in the Philippines,” said Martha Sazon, president and chief executive officer of Mynt. “The pandemic has acted as a catalyst in highlighting the importance of digital fin
GCash e-payments for the Bureau of Internal Revenue (BIR) taxes soared last year, signifying a shift in user behavior, where customers find it more convenient to pay digitally, the leading mobile electronic wallet provider said.
In a statement, Martha Sazon, Gcash president and chief executive, s