GCash, the leading e-wallet and digital financial services ecosystem in the Philippines, introduced new innovations at the recent GCash Futurecast, with a focus on the country’s fintech landscape and improving the consumer experience.

Martha Sazon, President and CEO of GCash, remarked during the event,
“Today, you can expect innovations that will ‘Change the Game’. But, the real game-changer is how we can make a meaningful impact on Filipino lives.”
She emphasised their goal “to innovate not only to provide access, but to be their partner towards better Financial Health and Wellness.”
Among the innovations showcased at GCash Futurecast 2024, Online PaySafe was introduced, a security feature aimed at making online transactions more secure.
This feature directs customers to the GCash app during their payment process, using multi-factor authentication to enhance security and reduce the risk of account takeovers, payment scam links, and website spoofing.
Gigi, GCash’s Help Centre chatbot powered by generative AI, has been upgraded to manage common queries, escalate complex issues, conduct security checks, access past conversations, and connect users to live agents when necessary.
In a similar vein, GCash also introduced new AI-powered features for their app, starting with GScore AI. GScore AI calculates users’ creditworthiness and loan eligibility based on their daily app usage, removing the need for forms or additional documents.
Meanwhile, Hyper-Personalised Ads is GCash’s ad-serving platform. The ads platform learns users’ shopping preferences and matches them with personalised offers from GCash partners and merchants, enabled by AI, selecting deals that align with individual preferences.
In addition, GCoach AI is an in-app guide for financial matters, using generative AI to educate users on spending, saving, and growing their money. It also provides personalised insights and links users to auto-deposit features within the app.
To address online fraud, GCash, in collaboration with Chubb, introduced Send Money Protect. For a small fee, users can insure their transactions against potential scammers for up to 30 days. This service aims to protect users from fraudsters who might impersonate known contacts or legitimate stores.
GCash also introduced two new payment innovations. The first is Tap To Pay, powered by Near Field Communication (NFC), that allows users to make payments by simply tapping their phone at turnstiles, facilitating faster commutes.
Secondly, Watch Pay was developed in partnership with Huawei, and is purportedly the first payment method via smartwatches in the country, permitting users to make payments by scanning a QR code on their wrist.
The market-leading e-wallet claims these developments are designed to support the financial progress of Filipinos by providing secure, accessible, and innovative financial solutions.
Featured image credit: The GCash team at Futurecast 2024, flanking Chief Marketing Officer Neil Trinidad (middle left) and Martha Sazon, GCash President and CEO (middle right)