GCash, City of Manila team up to promote financial inclusion

MANILA, Philippines — Mobile wallet GCash has teamed up with the city government of Manila to promote financial inclusion in the country’s capital.

Through the partnership, GCash is equipping 1,000 students under the scholarship program of the local government with GCash accounts.

The move is seen to unlock the immense benefits of digital finance by empowering the students with a mobile platform that provides access to financial tools such as savings, credit, and even investments.

“Providing finance for all has always been our goal at GCash, and this partnership with the city government of Manila through the strong and progressive leadership of Mayor Francisco ‘Isko Moreno’ Domagoso brings us a step closer to this objective,” GCash president Anthony Thomas said.

GCash said 1,000 scholars will receive their allowances and monetary benefits through the GCash platform, which they can also use to transact on physical and digital stores, buy load, open up a savings account, or even invest in money market funds.

“Together with the city government of Manila, we are opening up a wealth of opportunities for these students, who are the future of the Philippines. With the GCash app, they gain access to a spectrum of financial tools that are previously limited or even unavailable to them,” Thomas said.

Aside from the app, GCash also provided the scholars with their own GCash Mastercards, which they can use to cash the money out or use for point-of-sale transactions in physical stores.

The GCash Mastercard also serves as their official identification card as scholars of the government.

GCash believes that financial inclusion is an attribute of an advanced society, and through the promotion of digital finance through GCash, the city of Manila is on the right track.

It is operated by Globe Fintech Innovations Inc., a company owned by Globe Telecom Inc., Ayala Corp. and Ant Financial, an affiliate of Jack Ma’s Alibaba Group.

GCash ended 2019 with 75,000 QR merchants, 30,000 cash-in points and 400 partner billers who accept GCash payments.