MANILA, Philippines — Mobile wallet GCash has been tapped by the government anew to disburse financial aid to millions of beneficiaries from seven different regions in the country.
Through GCash, the Department of Social Welfare and Development (DSWD) will be releasing the second tranche of its social amelioration program (SAP) amounting to P16 billion to over 2.4 million beneficiaries nationwide.
GCash said the amount to be disbursed to the beneficiaries’ mobile wallets range from P5,500 to P8,000 depending on the area.
“We at GCash believe in the value of partnerships, especially during times of great need. By providing the government with a safe, secure, transparent, convenient, and free disbursement platform, we are helping the Philippines win against the pandemic,” GCash president and chief executive officer Martha Sazon said.
Beneficiaries of the second tranche of the SAP may use their GCash mobile wallets for a variety of financial services such as paying for physical and online transactions to over 75,000 merchants, transacting with over 400 billers, and transfering funds to over 40 banks in the country.
GCash users may also use their mobile wallets to buy airtime load, save money, invest in money market funds and purchase insurance products.
They also have the option of cashing out their financial assistance from partner establishments such as Puregold, Villarica Pawnshops, as well as ATMs through their GCash MasterCard.
So far, GCash has disbursed close to P2 billion in financial aid to more than 335,000 Filipinos through partnerships with national government agencies and local government units.
“We are happy to see that our platform is being used for the good of the many, especially those who are most in need. With GCash, we are providing a better alternative to physical distribution of cash aid, which can pose great health risks not only for beneficiaries, but also to government employees and volunteers,” Sazon said.
GCash is operated by Globe Fintech Innovations Inc., part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom.