adobo FOI 2019: Transforming a Mobile Wallet into a Lifestyle Tool — The Evolution of GCash with Its CEO & President, Anthony Thomas

MANILA, PHILIPPINES — At the adobo Festival of Ideas on December 5, 2019 at Newport City, Resorts World Manila, we saw Globe’s mission to connect the world materialize through its 3-part session. It was then that GCash CEO & President Anthony Thomas showcased the full portfolio of the “mobile wallet” GCash, a prime example of how businesses continue to evolve and adapt as we go into the “Digital Age”. In the case of Thomas, he presented how GCash provides an array of services that drive the Filipino people closer to financial inclusivity. 

Initially, he shared how GCash’s operations revolved around the mission of strengthening the “cashless” behavior in a highly cash-dependent country. This reliance on cash among Filipinos stems from the fact that 66% of the population do not have bank accounts — a big indicator of how far we needed to go to be considered a “financially inclusive” purchasing power. More than providing an alternative and cashless payment option, Thomas revealed several other financial services the app/platform offers in order to serve all of the population’s financial needs. 

    1. GScore — The overall trust or credit score gets from using GCash. A specific score will unlock “GCredit”. 
    2. GCredit — Access to credit within the app, giving up to P30,000 credit line and up to 3% Interest Rate
    3. GInvest — With a minimum of P50, users have the option of investing their money to businesses, right inside the app. 
    4. GSave — A fully digital savings account inside the app, powered by one of ASEAN’s leading banks: CIMB Bank Philippines.

As the local purchasing populace became more familiar and comfortable in using mobile for their payment transactions, he also shared how GCash transformed from a mere “mobile wallet”. Mid2019, GCash Forest was introduced to the Philippine market — a radical solution that makes tree planting more accessible to address environmental issues the world is currently facing. By collecting “green energy” in the app and switching to green activities to reduce one’s carbon footprint, users can adopt a native tree in the Philippines which the World Wildlife Fund (WWF) will plant along the Ipo Watershed.

Thomas’ session rounded up all the innovative efforts GCash is currently rolling out to make for a financially inclusive Philippines. With all the service offerings that it continues to introduce and evolve, we can see how the Filipino people are transforming alongside it in terms of mindset, behavior, and culture. In the coming decade, what more can we expect from the “mobile wallet”? Hear it from Thomas himself and watch his full session below:

The adobo Festival of Ideas is sponsored by the following:
Co-Presenter: Jollibee
Major Sponsors: UnileverFacebookLazadaGlobe Telecom
Minor Sponsor: ASUS Expert Series in partnership with Microsoft Philippines
Snacks and Coffee Sponsor: OishiRed RibbonHineleban
Venue Partner: Resorts World Manila
Production and Logistics Partner: ArtisteSpace
Creative PartnerWunderman Thompson Philippines
Video Graphics PartnerAcid House 
Sound Design Production PartnerHit Productions, Inc.
Ticketing Partner: Ticket WorldTicket2Me
Giftpack provider: BrushstrokePhotobookDon Papa Rum
Streaming Partner: Stream Engine

Partner with adobo Magazine

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