MANILA, PHILIPPINES — GCash, the Philippines’ leader in digital financial services, unveiled groundbreaking innovations at this year’s GCash Futurecast, revolutionizing the country’s fintech landscape and elevating consumer experience.
Martha Sazon, President and CEO of GCash, shared, “Today, you can expect innovations that will ‘Change the Game.’ But, the real game-changer is how we can make a meaningful impact on Filipino lives.”
She added, “to innovate not only to provide access but to be their partner towards better Financial Health and Wellness.”
State-of-the-art security
GCash FutureCast 2024 started with the introduction of “Online PaySafe,” an added security feature when you add to cart, for worry-free online transactions. With this feature, customers are directed to the GCash app during their payment process to complete their transaction using multi-factor authentication. This enhances security by reducing open windows and tabs that expose user accounts to possible takeovers, payment scam links, and website spoofing.
Getting help is now made easier with its AI-powered assistant, Gigi — equipped to handle common queries and escalate complex issues seamlessly. Gigi can also conduct security checks, access past conversations, and connect users to live agents when needed.
To combat online fraudsters, GCash, in partnership with Chubb, introduced Send Money Protect. For as low as PHP 30, users can now opt to insure their transactions of up to PHP 15,000 for 30 days. This covers transactions from potential scammers who pretend to be someone they know or disguise themselves as a legit store.
Design innovations
GCash also introduced three new app designs for a more intuitive experience. Its new dashboard features a new look with easy navigation that allows customers to access their favorite GCash products at one glance. With its new save, borrow, and grow tabs, users can now view their most-used features in the app.
The new and improved “GCat & Friends,” your new money-smart besties, are ready to help make money management more fun and educational. Joining GCat are her friends Corey G, sniffing out all the hottest deals, and GRaf reminding customers when it’s time to start saving and investing.
“Money Manager” is a real time spend tracker that visualizes spending on the app to help customers spend and save wisely.
AI-powered experiences
GCash revealed new AI-powered innovations, starting with “GScore AI,” GCash’s customer trust score powered by AI, to help you borrow better. No need for forms or additional documents, this feature calculates users’ creditworthiness and loan eligibility based on their daily app behavior.
“Hyper-Personalized Ads” powered by AI is GCash’s ad-serving platform that learns users’ shopping preferences and matches them with personalized offers from GCash partners and merchants. It handpicks the best deals that the customers will love, much like a personal shopping assistant.
“GCoach AI” is your go to guide for all things money. Using generative AI, it educates users on how to effectively spend, save, and grow their money with confidence. It also provides personalized insights and links users to auto-deposit features within the app.
Green innovations
“GImpact” is part of GCash’s commitment to promoting climate action, where users can create a greener future with every click. This new feature allows users to see how every transaction they have in the app leads to carbon reduction. These reduced emissions are converted into Green Points, which users can use to plant real trees through GForest’s partner NGOs.
“GFarm” is a new category for planting fruit-bearing trees. This initiative helps Filipino farmers one tree at a time by supplying them with fruit tree seedlings like coffee, avocado, and jackfruit. All proceeds from these go directly to the farmers, providing them and their communities a more sustainable livelihood.
Fintech for a new generation
To raise a future generation of better spenders and savers, GCash launched “GCash jr. with Parental Controls.” This allows kids between the ages of seven to 17 to have their first e-wallet and get their first debit card with GCash jr. Visa Cards. With wallet limits set up by mom and dad, kids can now make supervised purchases and subscriptions and have access to and receive their allowance anytime, anywhere.
Encouraging kids to have better saving habits, GCash also introduces “GSave jr.,” their first savings account. Kids can now learn to manage their savings accounts, set their own money goals, and control how much money they want to save.
With unique access and a special dashboard that allows parents to see overall spending and set transaction limits for their child’s GCash jr. account, these features empower today’s new generation with safe and supervised spending for better spending and saving habits.
Global Expansion
In 2024, GCash will continue to expand its reach to 16 countries including the USA, Canada, Italy, UK, Australia, Japan, Spain, UAE, South Korea, Taiwan, Germany, Hong Kong, Qatar, Singapore, KSA, and Kuwait, making GCash available to 10M overseas Filipinos. “International Bank Cash-In” allows users to cash in to GCash over 12,000 US Banks, with Europe to follow soon.
“GTravel” book and pay for flights and hotels, all in one app. It streamlines international travel experiences as it helps users book experiences, buy e-sims, and even plan visa requirements for their trips.. Coupled with GInsure, travelers can now apply for travel insurance powered by Standard and Malayan with coverage of up to PHP 2.5 million; OONA Insurance allows travelers instant lounge access for flight delays by an hour.
Soon, travelers to European destinations – Spain, Italy, France, Germany, and more, can also digitize and claim travel tax refunds with GCash.
The “GCash Tourist” product allows foreigners visiting the Philippines to pay like locals, giving them 30-day access to GCash features like Scan to Pay and Send Money.
New Ways To Borrow and Pay
“Borrow on the Spot” gives more people a chance to borrow, making financial support more accessible to everyone. Powered by Fuse, GCash’s lending arm, users can now, with just one tap of a button, instantly request to reassess their creditworthiness and get a higher credit limit via GGives, allowing eligible customers to fund their needs today.
From loans to payments, GCash launches two innovations to revolutionize the way Filipinos Pay with GCash. For a faster commute, “Tap To Pay,” powered by NFC (Near Field Communication), makes daily commutes easier for people on the go. Once users log in to their GCash app, all they have to do is simply tap their phone on the fast lane turnstile to make a payment.
“Watch Pay,” in partnership with Huawei, is the first payment method via smartwatches in the country! It allows users to wear their GCash wallet on their Huawei smartwatch and make seamless payments with just a scan of their QR on their wrist.
All these innovations are designed with the financial progress of Filipinos in mind. By offering secure, accessible, and innovative financial solutions, GCash continues to empower every Filipino to manage their finances better and build a brighter future for themselves.
Experience the future of fintech today and download the GCash app, available on the Huawei App Gallery, Google Play Store, and the App Store.
