Effective in the fourth quarter of 2023, GCash is set to introduce a nominal cash-in fee of P5 through its pivotal banking partnerships, signaling a paradigm shift in how users add funds to their digital wallets.
Martha Sazon, the president and CEO of GCash, was quick to emphasize that this forthcoming fee adjustment is poised to disrupt conventional norms while ensuring the seamlessness of operations for its vast user base.
Sazon said that the modest P5 charge contrasts significantly with the prevalent industry benchmark of P25 levied by traditional banks and financial institutions for similar cash transfer services.
In an era where convenience and financial accessibility reign supreme, GCash remains unwavering in its commitment to democratize digital financial services for Filipinos across all walks of life.
Sazon said that despite the introduction of the cash-in fee, GCash will continue to underwrite a portion of the operational expenses associated with cash-ins.