Now, it is also helping small businesses level up through three new services—PocketPay, SoundPay, and Merchant Dashboard.
"So the vision really is finance for all—not just for a few, not just for the privileged, but for everyone," GCash head of corporate sustainability and communications Michelle Fernandez said during a media briefing.
"And if you look at our journey, we've been with Filipinos through the hard times, through the difficult times. We're not a fair-weather friend," she added.
GCash has become an integral part of Filipinos' daily lives, evolving from an SMS-based local money transfer service launched in 2004 into the country's first mobile wallet app and, today, a financial superapp valued at $5 billion.
More depositors
Fernandez noted that before GCash, only 29 percent of Filipinos had bank accounts. By 2025, she said, that figure had risen to 65 percent.
She also said access to fair lending increased from 2 percent before GCash to 8 percent today.
For investments, the share of Filipinos with access doubled from 1 percent before GCash to 2 percent.
"But at least that's 100 percent growth. We are really hoping that we can encourage more Filipinos to learn how to grow their money," she added.
Access to insurance also expanded, rising from 23 percent before GCash to 51 percent.
Over the years, continuous feature updates have woven GCash into the fabric of everyday Filipino life.
Empowering Filipinos abroad
GCash also empowers overseas Filipinos with digital financial services through remittances from more than 200 countries and territories, as well as GCash Overseas, which allows Filipinos with non-Philippine SIM cards to sign up for and use GCash while abroad.
When traveling overseas, Filipinos can also pay using their phones through Alipay+ QR merchants or with their GCash Visa Card.
Fernandez said GCash also offers several options for users who need quick access to cash.
These include GCredit, a built-in credit line within the GCash app, and GGives, a buy now, pay later installment service.
According to Fernandez, users can borrow as little as P100 to cover immediate daily expenses, with zero interest if the loan is repaid within the same day.
Credit access
Fernandez said GCash had disbursed about P406 billion in loans to 11.1 million unique borrowers.
Two in five borrowers were women, while three in five belonged to socioeconomic classes C to D, expanding access to formal credit among underserved Filipinos.
One in three borrowers was a small business owner, indicating that greater access to credit has also helped aspiring entrepreneurs grow their businesses.
To help small businesses digitize and expand their operations, GCash for Business offers three new features. One is PocketPay, which turns smartphones into point-of-sale (POS) terminals.
Another is SoundPay, which provides an audible confirmation whenever a customer successfully pays via QR code. This allows merchants to verify transactions in real time without checking a screen or asking customers to show proof of payment.
The Merchant Dashboard, meanwhile, serves as a central web portal where merchants can manage payment acceptance, monitor funds, and oversee business operations. It functions as the control center for services such as SoundPay, PocketPay, and QR payments.
"So, there is no need to pay for those expensive programs to be able to help you track what is the profit for the day or the week," Fernandez said.
Access to savings and insurance
GCash has also made savings and insurance more accessible to Filipinos.
Fernandez said users can save as little as P5 a day through GSave and purchase insurance coverage for as low as P30.
"If you're going to travel abroad, you don't need to buy expensive P5,000 or P3,000 travel insurance. For P150, you can already get travel insurance through GCash to keep you protected while you're traveling," she said.
Fernandez also highlighted GBonds, which GCash offers in partnership with the government. Through GBonds, users can invest in government securities and earn interest of up to 5.4 percent.
Effective July 4, GCash also reduced its InstaPay transfer fee to P10 from P15 per transaction. InstaPay enables real-time fund transfers to local banks and other e-wallets for amounts of up to P50,000 per transaction, with no minimum transfer amount.
Fernandez explained the transaction fee was necessary to fund GCash's security infrastructure, ensuring users can transact safely and securely.—Ed: Corrie S. Narisma
Contributor
