GCash transactions up 700 percent due to pandemic demand

ABS-CBN News

Posted at Jun 22 2020 12:44 PM

MANILA - Mobile wallet GCash said Monday transactions spiked 700 percent in May as Filipinos turn to e-commerce during the coronavirus lockdown.

Customers loaded their GCash wallets using Instapay and paid for purchases on Google, Apple and Lazada more than they did during the same month in 2019, GCash said in a statement.

“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,” GCash president and CEO Martha Sazon said. 

Food delivery and online grocery shopping became more popular while fund transfers using GCash and Instapay are now the preferred mode of domestic remittance, it said. 

Bangko Sentral ng Pilipinas Governor Benjamin Diokno earlier urged Filipinos to use electronic channels to reduce human-to-human contact and reduce the risk of spreading the coronavirus.