Cashless transactions are one of the innovations in recent years that have brought convenience and ease to many consumers regarding their shopping habits. Be it paying for essential groceries for the week or a full tank of gas for the family car, many people have been utilizing GCash for their transactions.
With that, GCash has been dedicated to making innovations within the digital financial services industry to boost its consumers’ experience when it comes to their day-to-day financial transactions.
During its FutureCast 2024 held last June 28, GCash revealed the upcoming features that aim to innovate its app’s security, design, AI-powered experiences, green innovations, global expansion, and borrowing and payment methods, as well as inspire the younger generation to start their financial journey.
When it comes to security, Online Paysafe will direct consumers to the app as they complete their online transactions using multi-factor authentication, ensuring that consumers will have fewer open windows and tabs that may expose their accounts to security breaches. Meanwhile, Send Money Protect will ensure consumer transactions of up to P15,000 for 30 days for only P30.
GCash is also debuting Gigi, a built-in AI powered by generative AI that will help in handling questions and issues as well as conducting security checks, accessing previous conversations, and connecting users with live agents in case of emergencies.
by recounting the mobile wallet’s achievements in the previous year
The app will also have GScore AI which calculates a user’s creditworthiness and loan eligibility which will be based on their daily app behavior while GCoach AI educates users about how they can spend, save, and grow their money effectively, providing personalized insights and links to the app’s auto-deposit features.
It will also be having its International Bank Cash-In feature which will allow users to cash in to GCash through more than 12,000 banks in the US as well as its continuous expansion to other countries like USA, Canada, Italy, UK, Australia, Japan, Spain, UAE, South Korea, Taiwan, Germany, Hong Kong, Qatar, Singapore, KSA, and Kuwait.
For traveling users, GTravel will help users book and pay for flights and hotels, buy e-sims, and plan their visa requirements. They will also be able to apply for travel insurance with coverage of up to P2.5 million. Travelers to European destinations will also soon be able to digitize and claim travel tax funds. Foreigners will also be able to use the app through GCash Tourist, which gives them 30-day access to features such as Scan to Pay and Send Money during their stay in the Philippines.
The app will also launch Borrow on the Spot which allows users to reassess their creditworthiness and get a higher credit limit with one tap to borrow money for their needs. Innovations with new ways to pay include the NFC-powered Tap To Pay, which will help users make their daily commute more convenient by simply tapping their phones on the fast lane turnstile to pay for their fare. In partnership with Huawei, Watch Pay will help users access their GCash wallet through their Huawei smartwatches.
To inspire the younger generation to start learning more about being better spenders and savers, GCash is also launching GCash Jr. with Parental Controls which will help kids aged 7 to 17 have their first e-wallet with wallet limits set up by their parents while GSave Jr. will serve as their first savings accounts.
GCash will also be furthering its innovations for sustainability with its Gimpact, allowing users to see how their app use has reduced their carbon footprint through Green Points, which will be used to plant real trees through GForest’s partner NGOs. Meanwhile, GFarm will help supply Filipino farmers with fruit tree seedlings.
“We’re always looking for new ways to develop,” said GCash President and CEO Martha Sazon.
“We believe that doing good is good business. Driven by our mission, we are focused on making meaningful changes in the everyday lives of Filipinos,” she added.
The features are set to roll out in the coming months.