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GCash Powers SAP Distribution for Drivers
GCash, the leading mobile wallet in the Philippines, is helping the Department of Social Welfare and Development (DSWD) and the Department of Transportation-Land Transportation Franchising and Regulatory Board (DOTr-LTFRB) in disbursing the Social Amelioration Program (SAP) cash assistance to drivers who were affected by the COVID-19 situation.
Through GCash, roughly 40,000 workers under the informal economy such as drivers of jeepneys, buses, transport network vehicles, and shuttle services, among others will receive their financial aid via a safe, contactless and secure way. GCash will provide its secure and convenient contactless disbursement services at no cost to the government, as part of its commitment to help the whole country in eradicating COVID-19.
By leveraging financial technology for the disbursement of cash aid, the government is reducing the risk of crowding at distribution centers, while also improving efficiencies, as well as promoting transparency and accountability.
“As a strong government partner, GCash believes that offering our platform for free for the SAP will greatly help the government speed up the distribution of financial assistance to the beneficiaries. This collaboration among GCash, DSWD, and the LTFRB is a step forward to the future,” GCash VP for Enterprise Luigi Reyes said.
Aside from cashing out via ATMs nationwide, SAP beneficiaries may use the funds they received via GCash to pay for physical and online transactions as well as pay bills to over 70,000 merchants and billers, buy airtime load, and transfer money to their loved ones who have GCash accounts or bank accounts from over 40 financial institutions nationwide.
“We are aware of the difficulties in manually disbursing cash assistance to beneficiaries and the long queues at ATMs to withdraw financial assistance sent through bank accounts. As a socially responsible corporate citizen, GCash allows its partners to leverage our digital platform to create a positive and meaningful impact on Filipinos, especially during these difficult times,” Reyes said.
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.