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Wednesday, April 8, 2020
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GCash says fintech could help facilitate fund transfers

With restricted mobility and limited options due to the enhanced community quarantine of the whole island of Luzon and local lockdowns of other cities and provinces, Filipinos may opt to send and receive money to and from their loved ones via their mobile phones.

Aside from mobile wallets being more convenient — as anyone with a mobile digital finance account could transfer money anytime and anywhere — the use of financial technology for fund transfers also supports the government’s initiative of keeping people in their homes.

GCash President Anthony Thomas said, “We highly encourage the use of fintech platforms for both individuals and businesses to complement the initiatives of both the government and the private sector. We at GCash vow to facilitate the swift and reliable transfer of money from one mobile account to another in support of the collaborative efforts to fight Covid-19.”

Through their GCash apps, users may send money to other GCash users or even account holders of other bank accounts and financial institutions.

Express Send, found under the Send Money Tile, allows GCash users to send money to another GCash account in real time and for free. They may also include a short message to the receiver when using this feature.

Aside from withdrawing cash from their digital wallets, GCash account holders may use their funds to transact either online or offline. This further reduces the need for GCash users to go out and handle cash during the enhanced community quarantine.

Meanwhile, GCash account holders may also transfer funds to almost 40 banks and other financial institutions through the Bank Transfer feature.

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