GCash Hits ₱500B Gross Transaction Value in March 2022

GCash has revealed that its Gross Transaction Value (GTV) surpassed PHP 500 billion in March 2022.

GCash also claims that its user base has grown to 5 times that of the competitors, with up to 29 million daily logins and 19 million daily transactions, respectively, and that 83 percent of the Philippine adult population, or 60 million Filipinos, have a GCash account.

It also claims that its GSave savings account now has 5.3 million depositors. Its investing marketplace, GInvest, has 3 million registered users, accounting for 77 percent of all Unit Investment Trust Fund (UITF) accounts in the Philippines.

Since its introduction in 2018, GCredit, GCash’s first step into digital lending, has supplied qualified consumers with PHP 29 billion in credit lines, while GLoan, a quick cash loan platform, has disbursed PHP 2.2 billion in loans just ten months.

Meanwhile, since its accessible installment offer was announced in December 2021, GGives, a “buy now, pay later” offering, has disbursed PHP 130 million in cooperation with 85,000 merchants.

GCash increased its cash in and cash out outlets to 232,000, a 5.5X increase year on year, to maintain its position as the Philippines’ largest cashless ecosystem and provide the most touchpoints for users.

“Across the financial services landscape, we partnered with and are trusted by the most innovative and biggest market players, from savings, investment, insurance to lending, as we change the game and democratize financial access to Filipinos. Our goal is to let people know that these services are not just for the privileged but for everyone,” said Martha Sazon, President and CEO of GCash.

“GCash remains the leader in terms of users, usage, and the ecosystem around it. We’re able to do this while achieving profitability through multiple revenue streams. This is a feat that only a handful of fintech companies in the world have been able to achieve.”

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