The president and CEO of Globe Telecom has reported a strong increase in usage of their mobile wallet GCash, indicating Filipinos’ willingness to embrace new financial technologies.
“GCash continues to grow, we did P7 trillion in (gross transaction value) and we’ll get beyond that this year,” Globe’s Ernest Cu told Bloomberg News. “More importantly, more people who use Gcash daily use more than two services on a daily basis, a good sign of adoption.”
GCash services took off at the height of the pandemic when cash transactions were discouraged over fear that the contact point could transmit the coronavirus.
“What’s encouraging is that adoption for digital has really flown into other part of businesses like health tech in KonsultaMD,” Cu said, referring to the Ayala-owned online medical services platform.
“Acceptance that digital is really now embedded into the Filipino habit. That is something we are taking advantage of in delivering more services to the Filipinos,” he added.
