Philippine e-wallet GCash eyes evolution into all-in-one financial app

Tie-ups with Lazada and others offer expansion into consumer loans, insurance

GCash has over 90 million registered users and is accepted by more than 6 million restaurants, convenience stores and other businesses. (Photo by Yuki Fujita)

YUKI FUJITA, Nikkei staff writer

May 24, 2024 04:06 JST

MANILA -- Philippine mobile wallet GCash, which boasts over 90 million customers, looks to become a broader financial app by adding products such as investments, insurance and consumer loans through collaborations with local and foreign partners.

Mynt, the company behind GCash, teamed with Southeast Asian e-commerce platform Lazada at the end of April on loans for micro, small and midsize sellers on the partner's Philippine website.