GCash Helps Disburse Close to 2B Gov’t Financial Aid to 335,000 Filipinos
GCash, the undisputed leading and preferred mobile wallet in the Philippines, has helped both the national and local governments to disburse close to 2 billion in financial aid to more than 335,000 Filipinos who were adversely affected by the national health situation.
Since the start of the community quarantine periods in March, government agencies both local and national have tapped GCash for the quick, safe, secure, and transparent distribution of their own financial support to intended beneficiaries.
For local governments — including central business districts Makati City, Quezon City, and Pasig City — GCash has so far disbursed a more than P1.5 billion to over 310,000 beneficiaries. It has also disbursed more than P300 million to over 25,000 beneficiaries of the social amelioration program of the Department of Social Welfare and Development (DSWD).
“The government has realized that financial technology is no longer just a means for convenience, but it is now a necessity. The disbursement of financial aid close to 2B to over 335,000 beneficiaries and still growing through the GCash platform is just the tip of the iceberg. We continue to facilitate the distribution of financial aid to more Filipinos nationwide,” GCash President and CEO Martha Sazon said.
As the pioneering mobile wallet in the Philippines, GCash saw its platform as an effective means of distributing financial aid to those who were most affected by the national health situation.
Government agencies and local government units saw the value of using GCash as an effective, efficient, and transparent means of disbursing the financial assistance to their constituents.
National government agencies that have tapped GCash, through its partnership with the DSWD, for the distribution of financial aid include the Department of Transportation-Land Transportation Franchising and Regulatory Board (DOTr-LTFRB), and the Social Security System (SSS).
Just recently, GCash was mentioned by no less than President Rodrigo Roa Duterte in his report to Congress, saying that GCash has powered the government’s efforts in providing relief to drivers who were affected by the community quarantine. GCash allowed the government to use its platform for free.
“As a strong government partner, GCash supports the government in its efforts to curb the spread of the virus. Through our safe, secure, transparent, and convenient platform, we have lessened the need for physical distribution centers, reducing the risk of transmission,” Sazon said.
Likewise, beneficiaries of the financial aid programs were able to use their mobile wallets for a variety of financial services. GCash empowers users to pay for physical and online transactions to over 75,000 merchants, transact with over 400 billers, and transfer funds to over 40 banks in the Philippines. GCash users may also use their GCash wallets to buy airtime load, save money, invest in money market funds, and purchase insurance products.
Beneficiaries also have the option of cashing out their financial assistance from partner establishments such as Puregold, Villarica Pawnshops, as well as ATMs through their GCash MasterCard.
“We can only beat this virus through collective efforts. We look forward to serving more Filipinos through these partnerships with the government,” Sazon said.
Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.
GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/.