MANILA, Philippines, November 7, 2024 – GCash, the Philippines’ leading finance super app and largest cashless ecosystem, further expands its presence overseas, particularly in the United Kingdom and Europe, through the new UK/EU Bank Cash In feature, revolutionizing remittance for around two million Filipinos in Europe.
Starting this month, overseas Filipinos in the UK and Europe will be able to seamlessly link their international bank accounts to GCash, making it easier and more convenient to send remittances to the Philippines.
Previously, sending money from the UK and Europe to the Philippines has been a complex and time-consuming process, often involving expensive fees and multiple intermediaries. With the new feature, Filipinos can enjoy lower fees and faster transaction times when sending money home, as well as competitive exchange rates and real-time access to funds.
“Many Filipinos have chosen Europe and the United Kingdom as their home. GCash hopes to provide their needs and help them connect with their loved ones, as a trusted digital finance partner made for Filipinos, by Filipinos,” said Paul Albano, GCash International General Manager.
Floris de Kort, CEO of Thunes, added, “We are expanding our collaboration with GCash, a long-standing valued Member of our Direct Global Network, to transform digital wallet top-ups. Through Thunes’ Direct Global Network, we are now delivering an instant top-up service that simplifies cross-border transactions. Our alliance with GCash is a testament to our passion for innovation, the versatility of our proprietary network, and our dedication to financial inclusion through money movement around the world.”
Through the UK/EU Bank Cash In feature and other partnerships with international remittance companies, GCash hopes to widen its push towards Digital Financial Inclusion, ensuring that no Filipino is left behind in accessing financial services regardless of their socioeconomic status, gender, and location.
It was this vision that pushed GCash to become the Philippines’ first and only $5B unicorn, thanks to new investments from Japan’s largest banking group Mitsubishi UFJ Financial Group (MUFG) and Philippine conglomerate Ayala Corporation.
GCash is bannering its strong commitment to Digital Financial Inclusion at the world’s largest financial technology festival, the Singapore Fintech Festival, from November 6 to 8. GCash and Thunes are among the movers and shakers taking part in the dialogue on the future of fintech, with GCash CEO Martha Sazon speaking at the keynote session ‘Safeguarding the Economy’s Backbone: Accelerating Global SME Financing through Digital Services’ alongside National Bank of Cambodia Governor H.E. Dr. Serey Chea, Rwanda Minister of ICT and Innovation Hon. Paula Ingabire, Amazon Vice President of Emerging Countries Mahendra Nerurkar, Global Finance & Technology Network Pat Patel, and Ant International president Doug Feagin.
“At GCash, we prioritize finance for all Filipinos whether they are in the Philippines or abroad. We know our countrymen in Europe and the UK work hard to provide for their families back home,” says Albano. “We want to make their lives easier by looking for more convenient ways to help them send money back to their families.”
