MANILA - GCash has reached a milestone with over 60 million registered users nationwide, or 4 out of 5 adult Filipinos, the Ayala-led fintech said on Tuesday.
GCash said it has also over 5 million merchants and social sellers accepting digital money transfers or payments, while its app marketplace GLife has over 420 merchant partners.
“We are still the undisputed fintech leader in the country and we now cover 83 percent of the Philippines’ adult population,” said GCash President and CEO Martha Sazon.
The fintech platform, which is operated by Globe Telecom's Mynt, said it currently records 29 million daily logins, with a peak in daily transactions at 19 million.
Along with other online payment platforms and e-wallets, GCash boomed during the pandemic as mobility restrictions gave rise to cashless transactions as consumer behavior shifted.
“We now see an increased use of mobile wallets as people embrace e-commerce. With GCash, the unbanked and underserved population are finally empowered,” Sazon said.