Technology

GCash transactions soar 700% amid COVID crisis

Mobile wallet GCash saw transactions surge 700% in May as more and more Filipinos are getting accustomed to using technology to make payments amid the ongoing coronavirus pandemic.

Food delivery and online grocery shopping have become very popular while fund transfers through GCash, powered by Instapay, has also become a preferred mode of domestic remittance.

“The pandemic has forced all of us to adopt digital solutions such as GCash to protect us from contracting the virus. The steady uptrend on transactions using GCash shows that Filipinos are now being more dependent on digital solutions and they prefer to use the GCash platform to pay for these services,” said Martha Sazon, president and CEO of GCash.

“GCash is empowering Filipinos to do more with less through our best-in-class platform. Through GCash, we are helping stir up economic activity by bringing merchants and consumers closer, at least digitally,” Sazon added.

From the onset of the pandemic, GCash has helped tens of thousands of merchants and even social sellers connect with their customers by providing them with a safe, secure, and convenient mobile payments system.

GCash has also powered the national government’s Social Amelioration Program (SAP), allowing beneficiaries to use their GCash wallets to receive their financial assistance from the Department of Social Welfare and Development (DSWD).

Aside from this, GCash is also processing the financial aid of the local governments of Makati, Quezon City, and Pasig to disburse their own supplemental cash assistance to their residents.

Since last month, GCash has been the top finance app in both Android and iOS, and has consistently been included in the list of top apps next only to social media app TikTok and social conferencing app Zoom.

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