GCash says registered users reach 51 million as of October

ABS-CBN News

Posted at Nov 23 2021 04:49 PM

MANILA - Mobile wallet GCash said Tuesday it now has 51 million registered users as of the end of October.

For the year, GCash said it has breached its target of P3 trillion in gross transaction value or 3 times higher compared to last year.

Active users are also on the app more than 2.5 times a day while daily logins "peaked" at 23 million this year, the e-wallet said.

“We continue to embed GCash in the everyday lives of our users, which has in turn cemented our status as the undisputed market leader,” said Martha Sazon, GCash President and CEO. 

“We are proud to report that we have recorded four straight months of profitability, making GCash one of the few fintechs around the world that has proven that it can make money while providing accessible financial services to the public,” she added.

GCash said it also now has 3.9 million digital touch points and over 250 merchant partners across various categories. 

The e-wallet also offers other financial services such as savings, loans and investments, among others. 

Its operator Mynt recently announced it has reached a valuation of $2 billion or a "double unicorn" status following a $300 million funding. 

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