LONDON, UK – Media OutReach – August 1, 2023 – Philippines’ super financial app, GCash, announces its global expansion at London Tech Week 2023, highlighting its mission to provide Filipinos with access to financial services everywhere.
During London Tech Week, Prime Minister Sunak hosted industry leaders including GCash CEO Martha Sazon, GCash CTOO Pebbles Sy and Makati Mayor Abby Binay.
During the event, GCash CTOO Pebbles Sy, shared with technology leaders the fintech company’s efforts for financial inclusion.
“The GCash story is about how we support the Philippines’ journey to become a digital, cashless and financially inclusive economy,” Sy said. Sy explained how the e-wallet solves the daily problems of Filipinos, while seeking to reach more than 10 million Filipinos abroad.
“GCash Overseas, allows Filipinos to use their international SIM cards to use GCash. We have launched it in six countries, including the UK, where there are 200,000 Filipinos,” she noted. “We also introduced Global Pay, our cross-border payment experience, so OFWs and overseas travelers in 9 countries including Japan, France and the UK can pay seamlessly via QR with forex billing in real time.”
GCash Overseas allows Filipinos abroad to send money to loved ones, pay bills and buy load credits wherever they are.
GCash President and CEO Martha Sazon and key executives were also in the UK for the event. The GCash delegation attended receptions led by Rt Hon MP Rishi Sunak at 10 Downing St., as well as events hosted by Rt. Hon. Kemi Badenoch, MP, Secretary of State in the Department for Business and Trade, and Her Majesty’s Trade Commissioner for Asia-Pacific, Natalie Black. Cybersecurity was also on the agenda with discussions on the latest technologies to combat financial crime led by UK Cybersecurity Ambassador Juliette Wilcox CMG.
As a leading financial super app in PH, GCash enables Filipinos to access financial services, increasing the country’s banked population to 56%.
It disbursed P74B loans to 2.8 million Filipinos in the first quarter of 2023. Two out of three borrowers are women, located outside Metro Manila and from lower socio-economic classes. Similarly, one in four banked Filipinos has a bank account through GCash’s savings feature, GSave, while three out of four Unit Investment Trust Funds (UITFs) are managed through GCash.
GCash is PH’s only dual unicorn – a valuation of over $2 million.
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