November 14, 2023

Philippines’ GCash banners success story at Singapore FinTech Festival 2023

Shares how it emerged as the country’s only double unicorn

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The Philippines’ leading financial super app, GCash, brings its financial inclusion and FinTech success story to the global stage at the Singapore FinTech Festival (SFF) 2023 – sharing how it emerged as the country’s only double unicorn while making a positive impact on Filipinos’ daily lives.

GCash president and CEO Martha Sazon joins a panel discussion talking about, “Building Unicorns: An ASEAN Success Story” at the Insights stage of SFF 2023. She’s joined by Ernest Cu, the President and CEO of one of the Philippines’ biggest telecom companies, Globe Group. The panel is moderated by Ryan Huang, Assistant Finance Editor and Senior Producer and Presenter at Singapore’s MONEY FM 89.3.

“In line with our vision of achieving ‘Finance for All’, GCash has made big strides in transforming the Philippines’ digital economy to make sure no one is left behind. We are excited to engage like-minded organizations at the SFF 2023 as we continue to build partnerships and boost our capabilities in spearheading efforts to build an inclusive and safe digital ecosystem,” said Sazon.

“At GCash, we continue to look for ways on how we can enhance our services and continue pushing for innovations to serve Filipinos wherever they are,” she added.

GCash is the Philippines’ only double unicorn or duacorn with a valuation of over $2 billion. It has evolved beyond its core money transfer business – offering other financial services to the country’s millions of unserved and underserved individuals. These include fair lending, investment, insurance, cryptocurrencies, and other lifestyle services.

It’s also been expanding further by offering partner marketing solutions and ramping up its services for enterprise clients. GCash has also been broadening its reach through global payments partner, Alipay+, by allowing travelers to use the e-wallet for cashless transactions in 17 countries such as Singapore, Japan, and the USA. Likewise, it’s enabled users overseas to sign up for GCash using international mobile numbers in six countries like the USA, Italy, and Japan.

The Singapore FinTech Festival is organized by Elevandi, a non-profit organization set up by the Monetary Authority of Singapore (MAS), and Constellar, and in collaboration with MAS and the Associati. In its ninth year, the gathering focuses on “The Applications of AI in Financial Services” as it tackles how technologies such as AI and Web3 can help accelerate the transition to a low-carbon future; address the needs of the underserved; and secure the digital economy against risks.

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