Gcash, the financial technology arm of Globe Telecom and Ant Financial’s Mynt, launched the first online sustainable platform that can be used as a springboard for donations to needy sectors.
GCash for Good, now a part of GCash app, serves as Globe Telecoms’ corporate social responsibility arm to create relevant and socially-responsible virtual space where donors can freely donate cash to government agencies, non-government groups and other socio-civic organizations without the charges that usually come with fund transfer.
Mynt vice president for corporate communications Reyner Villaseñor said during the launch that the company would entice more NGOs and social groups to team up with CGash for the program.
“What we’re doing is that we’re banking on those who are willing to join. I’d like to call it ‘coalition of the willing’. Whoever wants to partner with us, whoever wants to partner for this Gcash movement, we’re ok to sign with more groups as we go on,” he said.
Mynt, a partnership between Globe Telecom, Ayala Corp. and Ant Financial, provides innovative and first-in-world fintech solutions to consumers, merchants and organizations. Its vision is to enable financial access for consumers and merchants by disrupting traditional channels through digital financial technology services.
GCash for Good signed up 35 partners and will soon register another 20 partners.
GCash users can use the GCash app to donate to various groups to create an impact on society without the need to pay for transaction fee.
This allows GCash to be a more inclusive and open platform that will help create better opportunities for millions of Filipinos.
GCash cited a study by Global Trends in Giving that showed that about 54 percent of individuals preferred to donate online, while the total volume of donations made online grew 12.1 percent in 2017.
Several studies also showed a growing trend in micro-donations and crowdfunding, with sites like Patreon and Kofi gaining massive support. Othel V. Campos
GCash has 70,000 merchant partners all over the country. It aims to improve partnership by bringing in more partners to a total of 100,000 by end-2019, said Villaseñor.
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