GCash: Gross transaction value surpassed P3 trillion in H1

Globe-backed mobile wallet GCash said on Thursday its gross transaction value surpassed P3 trillion in the first half of 2022.
 
In a statement, GCash said the gross transaction value posted in the first six months of the year nearly matched the P3.8 trillion posted in the full-year 2021.

With this, the mobile wallet is expected to end 2022 with a P6-trillion gross transaction value.

GCash also said its user base has expanded to 66 million, “with four out of five adults in the Philippines having a GCash account.”
 
“We've seen higher user engagement now that things have started to normalize, further proof that GCash has become embedded in the everyday lives of Filipinos,” said Martha Sazon, GCash president and CEO.
 
The mobile wallet said its merchant and social seller base also reached 5.2 million.
 
Its cash-in and cash-out outlets grew to 339,000, 5.7 times higher year-on-year. 
 
GCash said its portal GLife has 520 merchants and is introducing new categories such as content, health, insurance, and e-government.
 
“It just goes to show that the Filipinos’ shift to a more digital lifestyle is not limited to those during lockdowns. We continue to see the adoption increasing, and even the everyday use and use case diversity are growing. I think adoption is here to stay and we're not seeing it [plateau] in the near future,” said Sazon.
 
GCash said it is the lone double unicorn in the Philippines valued at over $2 billion. — VBL, GMA News