This agreement addresses the high volume of remittances from North America, with the US being the top source of such funds. Customers can send the money directly to the respective GCash accounts in the Philippines.
The collaboration aims to provide Philippines OFW with faster and more secure financial remittance services. Paul Albano, General Manager for GCash International, emphasised that the partnership empowers OFWs by simplifying the remittance process.
Paul Albano
“This collaboration enhances financial control for OFWs and strengthens connections with their families, making the remittance process easier than ever,” Paul said.
Joseph Argilagos, Viamericas’ Co-Founder, highlighted that the alliance expands their reach in the Philippines by integrating with GCash.
Joseph Argilagos
“This partnership perfectly aligns with our mission to empower communities by providing accessible, affordable, and reliable financial services,” Joseph noted.
The deal leverages GCash’s widespread adoption, with 81% of Filipinos now owning a GCash account.
GCash’s growth has been significant, reaching a respectable USD $5 billion valuation after they managed to secure fundings from Ayala Corp and MUFG. Mynt, the company’s operator, is also rumoured to be considering an initial public offering (IPO) in the Philippines.
Through the partnership with Viamericas, GCash wants to further solidify its role in facilitating financial transactions for millions of Filipinos, both domestically and internationally.
