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GCash Padala Waives Fees during ECQ

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GCash Padala Waives Fees during ECQ News PlatoBlockchain Data Intelligence | Vertical Search AI
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By Shiela Bertillo

Mobile wallet GCash is waiving the “padala” remittance fee during the implementation of the Enhanced Community Quarantine from Aug. 6 to 20, 2021, Martha Sazon, CEO of Mynt, the operator of GCash, announced in a virtual briefing. This is part of GCash’s initiative to improve its services amid the pandemic.

GCash Padala is the recently launched service of GCash. It is a more affordable, faster and easier way for Filipinos without an e-wallet account (non-Gcash users) to receive money instantly – and free of charge wherever in the country through the GCash app. This service charges down to as low as a 1 percent remittance fee with a minimum send of P500. Recipients only need to present an ID to claim the remittance at any of the 2,000 “Padala” partners like Posible, Go VIP Center, Tambunting, Panalo Express, and authorized sari-sari stores.

GCash Padala was made possible with Mynt’s partnership with leading fintech firm Ayannah, which is in the business of providing affordable and accessible digital financial services.

Recently, Mynt said it is going to make cryptocurrency and crypto trading available on GCash, Sazon also sad in a press briefing.

“We’re looking at it seriously and there’s really a plan to host an entity within our platform to aid in the trading of cryptocurrency so watch out for it soon,” Sazon said reporters, noting that they have pending deals with the partner entity. Mynt’s CEO, however, did not disclose who the partner entity is.

GCash currently has 46 million users and 2.5 million merchants.

Source: Manila Standard

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