GCash breaches P3-trillion gross transaction value

MOBILE-wallet company GCash said on Thursday that it surpassed the P3-trillion mark in gross transaction value in the first half, or nearly matching the P3.8 trillion recorded for full-year 2021.

“We’ve seen higher user engagement now that things have started to normalize, further proof that GCash has become embedded in the everyday lives of Filipinos,” GCash President and Chief Executive Officer Martha Sazon said in a press release.

The company is expecting to end the year with a P6-billion gross transaction value, or six times more than the level in 2020.

Last June, GCash said that it breached the P500-billion mark in gross transaction value in March.

The company also said that its finance cash-in and cash-out outlets increased to 339,000 or more than five times higher compared with last year.

Meanwhile, GCash said that its “lifestyle” portal GLife has 520 merchants and is introducing new categories such as content, health, insurance, and e-government.

In the first half, GCash ended with 66 million registered users, adding that four out of five adults in the country have a GCash account. It recorded 5.2 million merchants and social sellers. — Ashley Erika O. Jose