MANILA, Philippines — Two financial technology giants, GCash and Xendit, have formed a partnership to provide a more simple, secure, and seamless payment solution for the local market.
The partnership incorporates Xendit’s services as a payment aggregator or a third-party payment service provider that uses one large merchant account to process payments of sub-accounts owned by their users, for GCash’s merchant partners.
The collaboration ensures that business owners receive payments in a convenient, reliable, and timely manner.
Users, on the other hand, will benefit from a seamless payment experience every time they make payments, with little to no disruption or unnecessary lags.
“We are driven by our motivation to constantly address the changing needs of our users, thus we are always proactively looking for ways to create an experience that makes their everyday lives easier and worry-free,” GCash president and CEO Martha Sazon said.
“Our ultimate goal for this partnership is to provide accessible and financial solutions for all by working together to expand our suite of services and coverage of the market,” Sazon said.
GCash is one of the country’s largest e-wallets, with over 51 million registered users.
Xendit, on the other hand, is an Indonesia fintech company that provides payment solutions that simplify the payment process for businesses in Southeast Asia.
Individually, GCash and Xendit address many financial needs of companies and end-users alike.
Together, the two companies aim to provide even more innovative, safe, and relevant financial tools and services at a time when cashless payment is becoming more essential in the everyday lives of Filipinos.
“This partnership is a major step towards democratizing financial services for all and so we are thrilled to collaborate with GCash in this journey. It illustrates our shared commitment to further expand our footprint in the region and advances our mission to make payments as seamless as possible for businesses and end-users,” Xendit chief operating officer Christian Reyes said.