- E-wallet segment seen to continue expanding
GCash is the top mobile wallet used by Fpinos tor cashless transactions, comprising 4.9 million out of the overall 6.4 million mobile remitters in the country, according to a 2019 study conducted by The Nielsen Company.
Cashless transfers are defined as the use or any device or tool to send and bank transfers. Filipinos utilizing casniess transactions how comprise 19 percent or 9.3 million out of an estimated total 49 million who do money transfers.
“There are 39.7 million who are still into exclusive casn-to-cash transfer and who have not tried cashless solution. There are 2.9 million non-mobile wallet cashless remitters as well. These present a lot of potential for mobile wallets to expand and capture large, untapped segments, said Mynt president and chief executive Anthony Inomas.
Sending allowance for children and family members is the top reason ror money transfers, and e-wallets are seen to become increasingly relevant and attrative as it provides more functions and benefits. “GCash provides added accessibillty and conveniene that does disrupt out rather enhance one’s current lifestyle,” explained Ihomas.
GCash as a mobile wallet offers easy cash-in dna cashout options, through debit card and linked bank accounts as well as offline at 7-Eleven, MLhuilier and many other establishments. The study also revealed that mobile wallet users prefer GCash because it charges low or no service fees for digital transactions.
GCash, being the leader in the mobie wallet segment, aim to continously innovate and improve the user experience through added-value services and features. Remitting money is more personalized and fun with options to attach photos and videos or to send money in lucky Ang Pao form. The KKB feature on GCash also allows payments to be split equalily or managed among a group of users.
GCash also provides users increased security and peace or mind when using the app with the recent launch of Customer Protect, a program that provides compensation tor unauthorized financial transactions on their GCash app, GCash on Messenger or GCash Mastercard platforms arising from instances such as stolen
mobile phones or identity theft.
“GCash has thought of the end-to-end experience and is providing the best way to facilitate money transfers by thinking of and putting our customers first,” concluded Thomas.