Transforming Financial Inclusion and Digital Empowerment
GCash, the Philippines’ leading financial technology provider, was awarded the esteemed Industry Champions of the Year title by the ACES Awards. This accolade underscores the company’s transformative impact on financial inclusion and its steadfast dedication to democratising access to financial services, especially for the unserved and underserved populations in the Philippines. The award celebrates the company’s innovative contributions, as well as its resilient pursuit of sustainable growth and digital empowerment for Filipinos.
Pioneering Partnerships for Digital Finance
GCash has played a crucial role in fostering financial inclusion through strategic collaborations. Partnering with Bangko Sentral ng Pilipinas (BSP), GCash has helped accelerate the country’s transition toward cashless payments. Through PalengQR, a QR payment initiative for wet markets, GCash has on-boarded over 112,000 vendors in 330 municipalities. Additionally, the company actively works with over 200 government units to support digital payments for public services and enhance financial literacy programs nationwide.
Beyond its local influence, GCash also takes part in shaping fintech policies to ensure a secure and sustainable digital finance ecosystem.
Innovating for Financial Growth
One of GCash’s landmark innovations, GStocks PH, has revolutionised stock trading for Filipinos. Launched in collaboration with the Philippine Stock Exchange and AB Capital Securities, the feature enables users to trade stocks conveniently within the app. With over 500,000 registered users, GStocks PH has widened stock market access, making investing more inclusive.
GCash’s savings platform, GSave, has also been instrumental in financial inclusion. With over 10.9 million registered accounts, it represents 25% of the banked Filipino population. Meanwhile, GInvest allows users to invest in global funds with an entry point as low as PHP 50 (approximately $1), providing accessible investment opportunities.
GInsure further expands financial security through microinsurance, offering affordable protection through partnerships with leading insurance providers. With over 28.3 million policies issued, GInsure addresses critical financial security needs in the country.
Leading Sustainable and Secure Digital Finance
GCash integrates sustainability into its fintech ecosystem through GForest, the first fintech-led environmental initiative in the Philippines. Since its launch in 2019, GForest has engaged 19.7 million users, leading to the planting of 2.8 million trees nationwide. By aligning financial transactions with eco-conscious practices, GCash promotes environmental sustainability while creating jobs for local communities in forested regions.
Security remains a top priority for GCash, as reflected in its industry-leading Net Promoter Score (NPS) of 92% in 2023. The company continuously enhances its security infrastructure, introducing innovations such as Double Safe, a multi-factor authentication system combining facial recognition with MPINs and OTPs. This has led to a 24% reduction in account takeover attempts.
GCash also launched Account Secure, which limits access to a single authorised device, preventing unauthorised logins. AI-driven fraud detection tools, including the Scam Score Model and App Shielding, have further strengthened security, successfully blocking 11.7 million fraud attempts in 2023 alone.
A Future of Inclusive and Responsible Fintech
The recognition of GCash by the ACES Awards reinforces its commitment to financial inclusion, digital innovation, and responsible fintech practices. Moving forward, GCash aims to deepen its impact through continuous technological advancements, strategic partnerships, and an unwavering focus on ethical financial services.
By championing financial empowerment, security, and sustainability, GCash is redefining fintech’s role in creating a more inclusive economy, proving that digital finance can be a force for positive change.
