New offerings bolster GCash

Most fintech [financial technology] companies in the Philippines battle for the most convenient products, but it is high time for everyone to start talking …

New offerings bolster GCash

September 15, 2019

GCASH, an electronic-cash services provider backed by Globe Telecom Inc., continues to expand its reach in the local cashless economy by introducing new services to attract more users.

In this regard, GCash recently expanded its partnership with Puregold Price Club Inc. to allow its users to load their account via a barcode in all the listed supermarket operator’s branches.

“You put the amount that you want on the GCash app, then we generate the barcode and you [hand over] your cash and it’s done,” Globe President and Chief Executive Officer Ernest Cu said at the service’s launch in Taguig City on Tuesday.

For his part, Puregold President Vincent Co said there were 65 Puregold stores — out of 354 across the country as of 2018 — with exclusive lanes for GCash.

The e-wallet is operated by Mynt, which is a partnership between Globe, its parent firm Ayala Corp., and Ant Financial.

“Puregold and GCash have been longtime partners in providing useful innovations to Filipinos. By tapping Puregold checkout counters as cash-in points, we encourage more people to discover and enjoy the convenience of going cashless,” Fred Levy, Mynt’s chief commercial officer for transfers, said in a statement.

On Wednesday, GCash also unveiled its Customer Protect program that offers up to P100,000 as compensation for unauthorized financial transactions using GCash on the Messenger or GCash Mastercard platforms.

“It’s actually elevating the financial landscape. Most fintech [financial technology] companies in the Philippines battle for the most convenient products, but it is high time for everyone to start talking about security. If you are able to provide this platform you should be able to back it up and protect users, as well,” GCash Risk Policy Lead

Louie Miguel Santos said.