GCash, the Philippines’ leading finance app and largest cashless ecosystem, said it teamed up with E9Pay, South Korea’s top cross-border money transfer platform to simplify and expedite money transfers from Filipinos working and residing in Korea back to their families in the Philippines.
GCash said that with the direct connection between the two Asian fintech leaders, Filipinos living in Korea could send money to their friends and family’s GCash wallets through the E9Pay app with ease and speed.
The transaction procedure is fully online and requires only the receiver’s phone number, eliminating the need for bank visits or complex paperwork.
The transferred funds arrive within a few minutes or hours, far faster than traditional banking processes. Users will also benefit from lower transaction fees and more promotional events co-hosted by the two nation’s leading service providers.
“With the Korean government’s plans to bring in more health care and housekeeping workers from the Philippines, we anticipate significant transaction growth potential with GCash soon,” said E9pay chief executive Jun Goo Hyok.
Paul Albano, general manager of GCash International, said the partnership with E9Pay “ensures that we will continue to serve Filipinos wherever they are in the world.”
“This is also a big boost to the cultural and economic ties between the Philippines and Korea with monthly transactions seen growing substantially as we open the service to the over 60,000 Filipinos in Korea and over 94 million people who have tried using GCash in the Philippines,” he said.