GCash, a mobile wallet platform, said money transfer volumes surged by over 1,000 percent in August as a result of the huge influx of Filipinos using the service during the pandemic.
GCash said it recorded a 400-percent year-on-year surge in the monthly active users of the Send Money service with peer-to-peer money transfer transactions soaring by 500 percent. This led to overall transaction volume ballooning to over 1,000 percent.
“During the COVID-19 pandemic, Filipinos find that GCash Send Money is the easiest and fastest way to transfer money – whether it is for sending or remitting money to loved ones or doing payments to online merchants or other small and medium enterprises,” GCash president Martha Sazon said.
A variety of Send Money features are available through the GCash app: Express Send, Bank Transfer and sending money with photos to name a few.
GCash can also accommodate global money transfers, receiving money from anyone abroad, such as overseas Filipino workers who are stuck in quarantine which is made possible through the claim remittance feature.