MANILA – Mynt on Tuesday said it was “democratizing” access to financial services by making its GCash Mastercard available in convenience stores nationwide for only P150.
Mastercard on Shelf can be purchased at Ministop, All Day, Lawson and 7-11 stores, GCash operator Mynt said in a statement.
There is no need for a bank account but it has to be linked to a GCash account to be activated, with no minimum balance required, the statement said.
“By making the GCash Mastercard available in convenience stores nationwide, we are democratizing access to yet another financial service that has been unreachable for the majority of Filipinos for decades,” Mynt's chief commercial officer for Transfers Fred Levy said.
“In the past, credit cards have been a status symbol reserved only for a small portion of the population. They allowed cardholders to access convenience and perks that many couldn’t even dream of. With the GCash Mastercard, we are breaking the barriers to these privileges and making the Mastercard convenience available to all,” he added.
The card, which can be used to pay in-store, online shopping or to withdraw funds from any BancNet ATMs, also helps users manage their finances as the mobile wallet balance dictates how much a user can spend, Levy said.
GCash also offers other mobile-friendly financial services such as savings, investments and credit line within the app.