GCash, a Filipino mobile payments service, is owned and operated by Globe Fintech Innovations, Inc. (Mynt), a joint venture between Ant Group (an affiliate of Alibaba Group), Ayala Corporation, and Globe Telecom. This digital wallet allows users to pay bills, purchase goods, and send or receive money via their smartphones.
GCash has over 76 million registered users and more than 2.5 million sellers and merchants across the Philippines (2024).
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Redeem PayPal via GCash
Title: “PayPal funds can now be redeemed via GCash”
Writer: Tyrone Jasper C. Piad
Publication: Philippine Daily Inquirer
Date: March 28, 2024
Freelancers and digital nomads in the Philippines can now conveniently cash in their earnings sent via PayPal through GCash. This collaboration between the two financial technology players aims to make fund transfers easier for remote Filipino workers who often work for clients abroad. GCash recognizes the vital role of PayPal among freelancers and digital nomads, and it continues to be the best way to convert funds from PayPal seamlessly.
According to data from the Department of Information and Communications Technology, there are approximately 4 million freelancers in the country, with virtual assistants being the majority. Filipinos actively participate in the gig economy due to the flexibility of remote work setups and better earning potential. GCash is available in several countries, including the United States, Canada, the United Kingdom, Australia, Italy, Japan, Germany, and more. It also serves as a payment platform for select merchants in various countries.
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Title: “GCash operator joins network of Asian fintech firms”
Writer: Lorenz S. Marasigan
Publication: BusinessMirror
Date: March 28, 2024
GLOBE Fintech Innovations Inc. (GFII), the operator of GCash, has joined an initiative called “Programme Sirus.” This program aims to empower micro-sized, small-sized, and medium-sized enterprises (MSMEs) in their transition toward sustainability. It fosters open industry dialogues, allowing like-minded partners to exchange ideas on sustainability innovations. GCash is part of this select group of fintech companies across Asia, committed to supporting MSMEs operating on digital platforms.
The goal is to provide MSMEs with the right mindset, knowledge, and resources to take climate action, fostering sustainability and inclusivity in the digital economy. The International Finance Corp., the private sector arm of the World Bank Group, will collaborate with the Singapore unit of the Ant Group to develop and promote a set of Digital Sustainability Impact Management Toolkits over the next two years. These toolkits empower MSMEs to adopt environmentally and socially friendly practices while advancing the entire economy toward a low-carbon development path.
GCash in Japan
GCash, the widely-used electronic wallet (e-wallet), is now accepted in Japan stores via Alipay+. This partnership allows Filipino travelers to pay for products in Japan using their home wallet. The launch of Alipay+ in Japan was led by its operator, Ant International, and supported by six e-wallets, including GCash. Japan is the top market for Filipinos using their GCash wallets abroad. The payment process is seamless, with competitive exchange rates when using “Pay Overseas with Alipay+” on GCash
PayPal Cash-In
GCash, the Philippines’ leading finance app, has enhanced its partnership with PayPal. Now, PayPal users can seamlessly cash-in through GCash by linking their accounts. The wallet limit for this feature is P500,000, offering a more convenient and safer experience. This development aims to empower the country’s workforce and online entrepreneurs. The news was reported by Jonathan Castillo on March 26, 2024 in Manila Bulletin.
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