In line with its commitment to expand its services and bring convenient financial services to more Filipinos, GCash has entered into a partnership with Facebook Messenger to bring money transactions to users of the mobile app in the country.
GCash and Facebook Messenger formally announced the alliance last week. Through this strategic partnership, users of the popular instant messaging (IM) mobile app could pay their bills or buy prepaid mobile load instantly. Transactions would be charged to users’ GCash accounts.
As of press time, the newly launched service also facilitates opening of a new GCash account and linking an existing account with the app. A user can even get into a mobile chat with a GCash representative if he/she has inquiries or other concerns about this new feature.
“This integration with Messenger represents an exciting new way to reach the ‘unbanked’ in the Philippines,” said GCash President and CEO Albert Tinio. “We want everyone to enjoy cashless convenience on their mobile phones, and we think that these new tools will improve the financial lives of our customers.”
Bringing GCash services to more people
The partnership is also seen as an opportunity for GCash to connect with Messenger users who might still not have access to its financial services. Facebook has an estimated 47 million active users in the Philippines, most of which could access the Messenger. Based on a survey conducted by consulting firm Deloitte in 2016, up to 94% of IM users in the country prefer to use the app over Skype and WhatsApp.
“We’re excited to work with GCash to give Filipinos new tools to access their money using Messenger,” said Ginger Baker, Product Manager at Facebook. “Our goal is to amplify the reach and impact of providers like GCash by enabling tools that allow them to connect people with the services and friends they care about.”
Serving the ‘unbanked’
Based on information from the World Bank, it is estimated that less than a third of Filipinos presently do not own formal or traditional accounts for basic financial transactions. Through GCash on Messenger, users can do transactions even if they do not have a bank or mobile money account.
Eventually, GCash on Messenger would enable users to send money to their relatives and friends.
To access the service, search for GCash Official (@gcashofficial) on Facebook Messenger on Android (the service would be available on the iOS version soon).