GCash Hits 66 Million Users, P3 Trillion in Gross Transaction Value in 1H 2022
by Fintech News Philippines September 15, 2022GCash reached P3 trillion in gross transaction value (GTV) in the first half of the year, nearly matching its P3.8 trillion full-year GTV of 2021.
Barring any unforeseen circumstances, GCash expects to end 2022 with P6 trillion GTV, six times more than 2020 and almost double last year.
Likewise, its user base has grown to 66 million, with four out of five adults in the Philippines having a GCash account.
GCash has also doubled down on its merchant acquisition efforts and partnerships resulting in a merchant and social seller base of 5.2 million, 1.9 times higher than the same quarter of last year.
To offer the most touch points for users, GCash has expanded its cash-in and cash-out outlets to 339,000, 5.7 times higher year on year.
In addition, its lifestyle portal GLife has 520 merchants and is introducing new categories such as content, health, insurance, and e-government.
The service is operated by Mynt and is valued at US$2 billion.
Martha Sazon
“We’ve seen higher user engagement now that things have started to normalise, further proof that GCash has become embedded in the everyday lives of Filipinos,”
said Martha Sazon, GCash President and CEO.
