Editor’s note: This content is sponsored by GCash and was produced by BrandRap, the sales and marketing arm of Rappler. No member of the news and editorial team participated in the production of this piece.
Since not anyone had credit cards and not all merchants had the ability to accept credit card payments, a new way to pay had risen across all social classes – through mobile wallets. And when we talk about mobile wallets, this one app easily comes to mind – GCash. Within the last two years, GCash has become synonymous to sending and receiving money just like how Google has become synonymous to searching for anything online.
What does “finance for all” mean? This means making even the traditional banking services available even to the unbanked, no matter where they are in the Philippines. They’ve already started with GSave, a savings bank within the GCash app that allows its users to save their money and earn interest like you would in a bank. 1 in 5 Filipinos now have a GSave account.
In the same league of intimidating financial products are insurances. GCash acknowledges that and therefore, they’re making this accessible and affordable to Filipinos by partnering with trusted insurance companies and having them available right in the app as well. Insurances that range from life, non-life to travel, education – and pets, too – would soon be offered by GCash.