For its 20th anniversary, e-wallet operator GCash is celebrating major milestones it achieved throughout the years that have made it a household name today.
Ernest Cu, chairman of the board of Mynt and CEO of the Globe Group, recalled how GCash started back in 2004 with a simple function of money transfers through text messages.
Over the years, it has expanded its functions to more than just transferring money. GCash now encompasses bill payments, savings, insurance, stocks, cryptocurrency, and even includes reforestation projects.
As of 2024, GCash has an estimated 94 million users worldwide, with 10.9 million GSave users, 6.6 million GInvest users, and 5.4 million unique borrowers.
GCash also has 28.3 million GInsure policies and has the most monthly active users of any local finance app. It is estimated that all of the loans disbursed by GCash since its inception have totaled P155 billion.
The GStocks feature, for easy stock market trading, was launched in 2023 and has already garnered 682,000 users within the country.
All of these digital transactions have reduced an estimated 138,000 metric tons of CO2, and through the GForest initiative, have planted 2.8 million trees in the country.
These achievements, however, are not stopping the company from further expanding its reach. GCash president and CEO Martha Sazon said this is just the beginning of what GCash has to offer.
“GCash aims to improve and add more features towards financial health and wellness in the following years,” Sazon said during the company’s 20th anniversary gala night at the Marriott Hotel in Pasay City.
