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GCash Reigns as the No.1 Finance App in PH – App Annie Data
Since the start of the year, both Android and iOS users have chosen GCash as their finance app of choice, according to data from App Annie, the leading mobile data and analytics company, which found GCash as the top downloaded finance app with the most number of active users.
For nine consecutive months since January, GCash has been consistent in staying at the top spot for the two categories, reflecting the Filipino’s choice for their digital banking and finance needs and helping more people participate in the financial landscape.
This means that GCash was also the top financial technology (fintech) app during the period under review.
“Once again, GCash proved that it is indeed the leading fintech app in the country as it is the most trusted and partner finance app of Filipinos in navigating the pandemic towards the new normal,” GCash President and CEO Martha Sazon said.
According to App Annie, a reputable global app ranking authority, GCash has recorded a breakthrough of over 10 million app downloads in just the first nine months of 2020, and registering a whopping 130 percent app active user growth in September compared to the beginning of the year.
It added that the leading fintech app has been growing by 13 percent monthly on average.
The figures reflected the Filipinos’ growing reliance on digital finance to manage their personal finances and to carry on with their daily lives while also staying safe with contactless transactions provided by fintech apps like GCash.
“We saw GCash downloads and active user base reach remarkable heights in the span of months during the pandemic as Filipinos are adjusting to the stay-at-home lifestyle. We observed how people rapidly adopted the use of fintech apps in their everyday lives and how it impacted their way of life. And we are proud to say that GCash is leading the revolution towards that cashless lifestyle of the Filipinos,” Sazon said.
Because of the pandemic, GCash strived to further develop its platform from a convenient mobile wallet to a holistic finance app which offers essential services for the Filipinos to adapt to the new normal lifestyle.
With GCash, people are empowered to do more even in the comforts of their homes. They can shop and do contactless payments via QR codes or online modes of payment via send money.
They can also pay their bills, send money to bank accounts or to any GCash account, buy load, save money, borrow money, invest, get insured and many others.
Aside from consumers, GCash has also empowered businesses to thrive in the pandemic by providing them with enterprise-grade payments, disbursements, and even digital rewards solutions to bring them closer to their customers.
GCash is also a strong partner of the government in the collective fight to win the national health situation. It has assisted both the national and various local governments in disbursing financial assistance to those who were adversely affected by the pandemic.
“Filipinos turned to fintech to address their personal finance concerns. And GCash has a wide array of service offerings which provide them with the necessary financial tools that will aid them in going about their everyday finances,” Sazon said. “Financial technology still serves as the bedrock of digital services, empowering Filipinos to do more with less.”
Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.