Just got off the GCASH event called Futurecast 2021 and they pronounced some really good news about their financial app.
So really, what's next?
The goal is to bring you better solutions and better lives. Martha Sazon the CEO of GCash says "We all know the past year has been a struggle, we are still coping. We want you to know that GCash is your buddy through all of this, since the lockdown, I too haven't had the chance to meet my whole team but we focused on hwo to make Filipinos lives better. We can be there in times of need, for paying bills, for donating, everyday transactions, our user base now doubled. Currently we have 38 million Filipinos use our app. We are the number one financial app in the country and we strive to further improve our services. Not only to consumers, merchants, even the government. We empowered people through our cashless payments, we have registered social sellers, even sari sari stores and tricycle drivers now accept GCash. This amounts 16B to almost 2 Million Filipinos. The government saved a lot through GCash and now, we are collecting typhoon and COVID drives because we are secure and seamless. We know Titas of Manila need to learn how to use it, teaching them is an easy task. Families, people from far flung areas have no access to finances, but all Filipinos deserve to save, invest and grow their money. We believe GCash everyday will be possible, lifestyle, entrepreneurship.
GLife is where users can now transact with their favorite brands. Buy, transact and subscribe without downloading other apps, because it's all in on the GLife section of your GCash app. We give you deals, the best ones in the market.
Social sellers can use their personal QR to make transactions easy, to send money and pay bills with it. Wanting to not leave anyone behind, you can do paytime and playtime with it. You can have several companies (35 of them!) providing entertainment, shopping, food, without downloading their individual app and costing space on your phone because it is accessible through GLife. I've tried purchasing chicken when it came out, it was such a deal!
Financial Services
Equal chance for a brighter future. Doesn't that sound promising? In a nutshell, they've got these services running inside the GCash app. They're still developing the platform and promise to bring more services in the future, here's what they currently have:
GSave has the highest interest rate in the country, insured by PDIC, you can also be assured with what you deposit.
GCredit can give you access to cash when you need it
GInvest can get you to invest with as low as 50 pesos.
GInsure can also get you insurance including coverage of COVID.
GForest gets you the chance to also plant trees while doing several things in the app.
Their goal is to make Filipinos live better, and I think that is achievable. PureGo for groceries, Lazada for Shopping, Gawin for household help, Fully Booked for your favorite titles, Goama Games for your gaming needs, Gadgets at Datablitz, Bo's Coffe, Gong Cha, Mc Donalds, Tapa King, tons of them are listed and you can set favorites when you feel the need to. Oh and if you see the deals, it's unbelievable especially for the 50% OFF I've experienced a couple of times.
Entrepreneurship
Local farmer, fishermen, tricycle, medium sized companies, no matter what we do and what we are, they want to help every Filipino entrepreneur do cashless and safe transactions through GCash. Fe Mir the GCash Marketing Head says "People are looking for new opportunities to keep their business afloat. The business of every enterprise in the country is a personal one, we want to help you in the new normal. GCash Pro can give easy payment solutions, it's secure and we want to help entrepreneurs improve their business. Platforms have their eCommerce activity exploding, we made QR on demand so you can receive money accurately. We have so many business solutions and businesses can go to our GCash Merchant Portal so you can submit requirements online and hassle free. We will be adding credit and other options soon. We want you to have Finance for All. We want to have a GCash option in every convenience store, sari sari store and Tricycle soon."
Finance for All
38 Million Filipinos have financial potential and GCash through GInvest can be accessible to all. You can get your money to work with you. GSave is fully digital and hassle free, only needs one ID for it to be verified. GSave also doesn't need any maintaining balance, interest rates are competitive (4% per year) and saving regularly would be a good thing. If you need an emergency fund or vacation funds, a lot of people have already opened a GSave account (over 3M actually). GInvest on the other hand allows you to invest in local or international funds. It need not to be complicated, and GInvest allows you to do that even for 50 pesos. Fund managers from reputable companies allow you to invest in 5 different types of corporations. It's also easy to monitor because it shows graphs on the GCash app itself. In just a few taps, you can now access these services without going through the agonizing paperwork needed for investments.
GInsure makes Insurance easy to purchase, manage and become affordable. This is their partnership with Singlife, with less than 50 pesos a month, you get covered from Dengue and now, cover Covid 19 as well. You can insure your self or your family for this. In the app, you can buy in a simple and straight forward way, soon to have vehicle, travel and property (which will be rolled out soon).
GCredit is cash that can be borrowed. With your GCash transactions, you can use it to build small businesses (like a micro loan) and earn from it during a pandemic. They've shown proof that it is possible during the event when a woman borrowed money and used it for a food business. She grew the amount and had her husband help her make it become a sustainable business today which now provides for their everyday needs and the needs of their children.
GForest is a small little game inside the GCash app that will help reforest places in the country. To date, their goal is to have 500K trees to be planted, and there will be more no matter what season. They are partnering with environmental groups and organizations so they too can get help with this digital bayanihan method.
GLife provides things you need at a click of a button. These services are available now on the GCash app, so if you haven't downloaded it yet, maybe the time is now.