GCash Unveils Enhanced International Services and Explores Enterprise Solutions at Singapore Fintech Festival 2023

GCash, the Philippines’ leading finance super app, introduces enhanced international services at the Singapore Fintech Festival 2023. The app now features real-time foreign exchange rates for select countries, reinforcing its position for Filipino travelers and overseas residents. With expanded capabilities and a focus on enterprise services, GCash continues to evolve beyond its core money transfer business.

21 November 2023 – GCash, the leading finance super app in the Philippines, unveiled its expanded international services at the Singapore Fintech Festival 2023. During a panel discussion, GCash President and CEO Martha Sazon introduced a new app feature enabling users to access real-time foreign exchange rates in select countries like Singapore, Japan, and the USA.

Sazon emphasized the significance of this feature, stating, “Through GCash services, Filipino travelers and overseas residents can enjoy the same benefits as credit card and bank account holders. The app facilitates payments in stores and establishments accepting Alipay+ or card transactions.”

GCash has broadened its global reach through its partnership with global payments giant Alipay+, enabling cashless transactions in 17 countries. Users abroad can register for GCash with international mobile numbers in six countries, including the USA, Italy, and Japan.

In collaboration with Visa, GCash users can conduct cashless transactions at over 80 million merchants across 200 countries. The new GCash Card, available through the app, further enhances these capabilities, allowing users to pay at establishments accepting Alipay+ by scanning QR codes or generating codes.

Beyond international expansion, GCash is intensifying its focus on enterprise services. Sazon highlighted the company’s entry into the B2B space, addressing pain points and friction to create meaningful solutions. In addition to digital financial tools for enterprises, GCash offers partner marketing solutions and concentrates on aiding the digital transformation of nano, micro, small, and medium enterprises (NMSME) with innovative business solutions.

Sazon participated in a panel discussion on “Building Unicorns: An ASEAN Success Story” at SFF 2023. The panel, moderated by Ryan Huang of Singapore’s MONEY FM 89.3, featured Ernest Cu, Chairman of GCash holding company Mynt, and the President and CEO of Globe Group, one of the Philippines’ largest telecom companies.

As the Philippines’ only double unicorn, with a valuation exceeding $2 billion, GCash has evolved beyond its core money transfer business, offering diversified financial services such as fair lending, investment, insurance, and lifestyle services.

The Singapore FinTech Festival, organized by Elevandi, a non-profit established by the Monetary Authority of Singapore (MAS), remains a pivotal gathering for industry players and leaders globally, attracting 62,000 participants from 134 countries last year.

Author: Terry KS

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