Martha Sazon, the President and CEO of GCash, was recently invited to speak at the plenary of the just-concluded Mobile World Congress (MWC) in Barcelona, where the country’s leading mobile wallet and internationally-acclaimed micropayment service provider shared stories about evolving customer needs in the Philippines.
In her speech, Sazon talked about “New Behavior for a New Reality,” a topic that is very close to GCash’s story. She also showcased how GCash, with support from the Globe Group led by its President and CEO, Ernest Cu, has been at the forefront of innovation and progress in the Philippines.
MWC Barcelona is the world’s largest mobile industry gathering that attracts thousands of exhibitors and visitors worldwide. Hosted by GSMA, a global organization that aims to unify the mobile ecosystem, this year’s MWC was held between February 27 to March 2, 2023.
#GCashStories: Mobile wallets as a crucial digital platform
As one of the session speakers at the “Fintech Summit: The Rise of Fintech Disruption,” Sazon also talked about how fintech is enabling the creation of powerful and disruptive solutions that are now redefining the market.
According to her, GCash emerged as a crucial digital platform during the pandemic as it allowed Filipinos to complete their financial transactions. It also gave startup companies crucial access to an online market amid movement restrictions during the lockdown.
GCash, a dominant mobile wallet in the Philippines, is a double unicorn valued at US$2 billion. With a user base of about 76 million, it continues to expand its financial services — from payments and cash transfers to credit, savings, wealth, insurance, and investment products.
To date, in the transition to the new normal, GCash has become a verb and is now the Filipinos’ “go-to” everyday fintech companion that now also offers retail, food, wellness, travel, recreation, and even real estate services.
Most recently, GCash started the beta launch of GCash Overseas, which allows Filipinos based in Japan, Australia, and Italy to use GCash using an international SIM – another game-changer in the Philippine fintech industry.
Now on limited launch, GCash Overseas will give the first 1,000 users from the three countries access to GCash using an international SIM. Once fully verified, they can start using their GCash to send money home for free (GCash to GCash), paying bills, and buying load credits. The full launch of this feature is expected later this year.
Globe: From telco to techo
During the same event, Globe Group President and CEO Ernest Cu was also invited to speak about the company’s transition from being a telco to a techco in a panel discussion with Transcelestial, one of the companies supported by the Globe Group’s Kickstart Ventures.
Cu joined CEOs of top Southeast Asian telcos in a discussion on new network-related technologies and connectivity challenges in the Philippines, among many other issues.
“Our fintech company’s debut at the Mobile World Congress Barcelona is a crucial milestone for the Globe Group as we establish ourselves as a leading digital disruptor and enabler in the Philippines, and banner our evolution into a technology company. We are proud to showcase our achievements as we uplift the lives of Filipinos through digital solutions, and to be part of the global conversation on the future of technology and connectivity,” said Cu.
The Globe Group’s presence at the much-anticipated international event is an opportunity for the expanding company to showcase its commitment to being at the forefront of innovation and progress.
With almost a hundred portfolio companies under its wing, the Globe Group has successfully expanded into the country’s leading digital solutions platform, with services in fintech, health tech, adtech, edutech, outsourcing and managed services, enterprise data, and investments.
According to Cu, the Globe Group aims to create “a Philippines that is digitally inclusive by leveraging technology and continuously innovating to meet the changing industry conditions.”