G-Exchange Inc., the operator of GCash, is confident of continued expansion this year and beyond as it introduced 10 more new innovations in its application such as allowing overseas Filipinos, for instance, to participate in the local equities market.
Gcash CEO Martha Sazon said the company is determined to expand its services to even more Filipinos wherever they may be in the world.
“With 10 ground-breaking innovations, we are confident of maintaining our leadership in the digital fintech space. This enables us to grow together with Filipinos as they utilize our services to build a brighter future. GCash is positioned to reach more Filipinos as it is backed by the largest digital ecosystem,” Saxon said at the launching of its latest services.
The company introduced new wealth management products that allow its users to invest in the local stock market, buy cryptocurrencies and obtain insurance merely by going online.
Winsley Bangit, GCash chief customer officer, said the company’s GStocks Ph app is nearing its first 1,000 customers and will seek a review from regulators before rolling the service to its other customers.
GStocks is AB Capital Securities Inc.’s online retail securities trading service that will be made available to the GCash app. The platform was designed in collaboration with the Philippine Stock Exchange.
Its new crypto service also allows users to get access so-called non-fungible tokens or NFTs such as the works of Reed Barrera on its NFT Hub. NFTs are much like physical collector items, only digital. Instead of purchasing an actual oil painting, for instance, the buyer gets a digital file. They also get exclusive ownership rights.
The new system also allow crypto trading through the PDAX, or the Philippine Digital Asset Exchange, platform.
GCash for overseas Filipinos, meanwhile, allow Filipinos in certain countries to download the app using their international SIM cards and use the service as they use it back home, such as sending money for free in GCash to GCash transactions.
The service, which is still in beta and limited to a number of users for now, can be accessed in countries like Japan, Australia, Italy, the US, the UK and Canada.
Other services the company launched include a buy-now-pay-later scheme, borrow load or phone credits for cellular phones, and a real time foreign exchange service that allows Filipino travelers do cross-border payments in countries as Japan, Singapore, Malaysia, South Korea, and a number of European nations.
GCash, first launched in 2005, has 79 million registered users and 5.8 million merchant and social media sellers.
