Business & Marketing,  Featured

40 MILLION FILIPINOS and GROWING: GCash strengthens partnership with the public sector to promote digital financial inclusion for all

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To fast-track economic recovery amid the pandemic, public and private sectors must unite and work together to achieve a more inclusive financial ecosystem for all Filipinos. It is the vision behind “One with the Nation: Forging Public-Private Partnerships Towards Digital Inclusion in the Philippines,” a webinar organized by GCash, the country’s no. 1 mobile wallet app, in collaboration with the various national government agencies and local government units (LGUs).

The webinar featured distinguished speakers from both the public and private sectors led by Bangko Sentral ng Pilipinas (BSP) Gov. Benjamin Diokno, Makati Mayor Abby Binay, Congressman Jose Enrique Garcia, DSWD Director Wayne Belizar, Bureau of Treasury of the Philippines OIC Deputy Treasurer Ed Marino, BSP Deputy Dir. for Payment Systems Atty. Leah M. Irao, GCash President and CEO Martha Sazon, GCash Vice President for Enterprise Jose Luis Reyes, GCash AVP, and Head of Public Sector & Partnerships Cathlyn Pavia.

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GCash president and CEO Martha Sazon

“Our partnerships with the private sector have provided us with a wide network to reach more customers and develop more relevant financial services and products,” said Martha Sazon, GCash president and chief executive officer. “But in order to truly reach the unbanked and underserved communities, we look to the public sector with their expertise and resources. Together, we can really make a difference in the lives of Filipinos.”

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Governor, Bangko Sentral ng Pilipinas Benjamin Diokno

The event opened with a Keynote Message from BSP Governor Benjamin Diokno on “Digital Financial Inclusion: Impacting the Lives of Millions of Filipinos.” In his message to the participants, Governor Diokno underscored the importance of making financial inclusion a reality for every Filipino in the country. This was followed by a panel discussion on “Digital Infrastructure: The Journey Starts Today!” led by BSP deputy director Atty Leah M. Irao and Cong. Jose Enrique Garcia. Atty. Irao and Congressman Garcia discussed the value of digitalization to promote the safety and security of Filipinos even beyond the pandemic.GCash

It discussed the importance of outlining a strategic path towards digital transformation next by Pavia in “Digital Roadmap: Are We Ready to Innovate?”. In her talk, Pavia emphasized the critical value of implementing digitalization in phases and how that can seamlessly integrate digital solutions to create a hybrid approach and facilitate smoother adoption.

In his talk on “Digital Manual: 101 Opportunities to Move Forward!,” Director Marino discussed the long-term benefits of creating sound policies and guidelines, ensuring transparency during digital transformation.

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Makati City Mayor Abby Binay

Highlighting trailblazing partnerships going cashless, Makati Mayor Abby Binay led a panel entitled “Digital Headstart: Kaya Mo Pilipino!” In Makati, data of its constituents were collected and used to create the Makatizen ID card and open GCash accounts. The card serves as a valid ID that it can use to avail of government services and a debit card to withdraw in any Bancnet ATM or use in Mastercard-accepting merchants. Likewise, Makati also uses GCash to disburse employees’ salaries, allowances of senior citizens, and other financial assistance such as Maka-tulong. With Mayor, Binay was DSWD Dir. Delizer, who in turn shared the agency’s groundbreaking SAP disbursement program last year.

At the height of the pandemic last year, this successful partnership was the collaboration between GCash and the Department of Social Welfare and Development (DSWD) for safer distribution of funds for its Social Amelioration Program. GCash distributed more than P16 billion to at least 2 million Filipinos, saving the government about 952 days and around P52 million. GCash continues to support DSWD in its Assistance for Individuals Under Crisis Situation program every month.

The mobile app has also partnered with the Social Security System (SSS). Since February, SSS has enabled GCash as an option for receiving benefits through PESOnet. The app has provided SSS members an option to pay their monthly contribution payments via the app’s Pay Bills feature. Likewise, for PAG-IBIG, contributions are also conveniently accepted via Pay Bills and Web Pay.

Closing the webinar was GCash VP for Enterprise Jose Luis Reyes, who stressed the importance of financial inclusion and expressed optimism that despite today’s challenges, there is a clear way forward to achieve BSP’s vision and make Filipino lives better every day.

These programs prove that strong partnerships between the private and public sectors are crucial in successfully bringing the benefits of digitalization and financial inclusion to Filipinos when they need it most.

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For more information, visit www.gcash.com.

Summary:

A strategic webinar featuring speakers that emphasizes the importance of private-public sector collaboration in achieving financial inclusion for Filipinos.

Including BSP Governor Benjamin Diokno, Congressman Jose Enrique Garcia, and Makati Mayor Abby Binay. The event gathered hundreds of society leaders, LGU officials, business sector executives, and the media to discuss viable digital financial solutions for the country.

Successful pioneering partnerships for cashless programs such as Makati LGU-GCash Makatizen ID card, SSS-GCash partnership for fast and secure disbursement of SSS benefits; and the safe and timely distribution of funds for the DSWD’s Social Amelioration Program through GCash were discussed as best practices.

GCash looks forward to collaborating with more LGUs and other national government agencies to promote digital synergy and identify financial solutions that will positively impact the lives of millions of Filipinos nationwide, especially during this pandemic period.

About GCash

GCash is the leading mobile wallet in the Philippines. Customers can use the GCash app to buy load, pay bills at over 600 partner billers in the app, pay at over 7,000 online partners, send and receive money anywhere in the Philippines, pay using QR codes at over 130,000 partner merchants nationwide, save money while earning interest, and invest money in local and global funds – all from the comfort of their smartphones.

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GCash is one of the portfolio companies of 917Ventures, the Philippines’ largest corporate incubator, which Globe Telecom, Inc wholly owns. The Asian Banker (TAB) recognized GCash in 2021 for its outstanding digital financial inclusion programs, which impact more than 40 million Filipinos in the country today.

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