Cashing in on digital boom: Ayalas’ GCash transactions seen to reach P6 trillion by year end

Mobile wallet giant GCash expects to finish 2022 with a gross transaction value of P6 trillion as user engagement in the platform continues to rise despite things slowly going back to normal.

GCash said its gross transaction value already breached the P3-trillion mark from January to June, nearly matching the P3.8 trillion recorded in full year 2021.

The P6 trillion gross transaction value expected by yearend is almost double last year’s level, and six times more than 2020.

“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 CEO Martha Sazon said.

GCash had 66 million registered users as of end-June, with four out of five adults in the country having a GCash account.

It likewise has 5.2 million merchants and social sellers, and 339,000 cash-in and cash-out outlets.

DOE raises RE utilization percentage for on-grid areas

The Department of Energy (DOE) has increased the percentage of the utilization of renewable energy for on-grid areas from one percent to 2.52 percent in line with the administration’s goal of transitioning towards a sustainable and clean energy future.