GCash Expands Remittance Channel for Overseas Filipinos to 16 Countries
GCash, a popular e-wallet platform, is now offering a new remittance channel for Filipinos living and working abroad. The platform has expanded its presence into 16 countries across Asia Pacific, Europe, the Middle East, and the United States.
During a recent briefing in Taguig, Paul Albano, the general manager of GCash International, announced that the platform is officially up and running in 13 countries, including the US, Canada, the United Kingdom, Australia, Italy, Japan, Germany, Spain, United Arab Emirates, Qatar, Hong Kong, Taiwan, and Korea. By April, GCash will also be available in Saudi Arabia, Kuwait, and Singapore.
Albano mentioned that GCash will collaborate with the Bangko Sentral ng Pilipinas to further expand its services to more countries. These 16 countries currently account for more than 80 percent of the remittances sent by Filipinos.
According to the Bangko Sentral ng Pilipinas, personal remittances increased by 3 percent to $37.2 billion last year, driven by more Filipinos finding work abroad. The top sources of remittances include the US, Singapore, Saudi Arabia, Japan, and the UK.
Overseas users can sign up for GCash using their international mobile numbers and a Philippine passport or other valid Philippine ID for identity verification. Once verified, users can send money for free through the app, as well as pay bills and purchase load credits.
GCash is accepted as a payment platform in select merchants in various countries such as Japan, South Korea, Singapore, Malaysia, Hong Kong, Macau, Qatar, UAE, US, France, Italy, Germany, Switzerland, and the UK. Additionally, GCash has partnered with Visa, allowing users to make payments at over 100 million merchants across 200 countries and territories.
Albano expressed confidence that GCash’s innovation and partnerships will enable them to provide seamless financial services to Filipinos worldwide, with plans for further international expansion in the future.
In a recent collaboration, GCash partnered with the blockchain-based game Axie Infinity, allowing players to convert their in-game cryptocurrency assets into fiat money through the e-wallet. Additionally, players of other games under Sky Mavis’ Ronin ecosystem, like Pixels, can also utilize this service.
GCash users can also access GCrypto, powered by the Philippine Digital Asset Exchange, to trade cryptocurrencies directly through the app.
