GCash app installations double during lockdown

MANILA, Philippines — Mobile wallet GCash saw a significant growth in app installations and registrations during the coronavirus pandemic as more Filipinos have turned to cashless transactions.

GCash said app installations doubled during the community quarantine while registrations rose by 2.5 times.

“We have seen a huge growth in terms of volumes of transactions in our platform during the community quarantine. We saw people transacting with merchants physically through QR and Barcode and digitally through money transfers,” GCash chief technology and operating officer Pebbles Sy said.

“This is a reflection of how Filipinos are growing more trusting of digital finance, which we believe will be a huge player in implementing the so-called new normal. Financial technology will serve as the bedrock of digital services – those that will empower Filipinos to do more with less,” she said.

Sy said the national health situation has caused more Filipinos to be mindful of their personal finances.

She said Filipinos are looking for various ways to address their personal finance concerns due to uncertainties brought about by the national health situation and the limitations set by the government to help curb the spread of the virus.

As a tool that provides financial services to the masses, she said GCash is enabling its users to manage their personal finance better than traditional means.

GCash allows users to pay for their digital and physical transactions through the GCash app. It also allows users to pay their bills, buy airtime load, and transfer funds to any GCash account or to other banks.