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Western Union expands digital distribution; Money transfers paid into GCash mobile wallets in Philippines

 

MANILA, PHILIPPINES, MARCH 2018 – Western Union, a leader in cross-border and cross-currency money transfer, and G-Xchange, Inc. have enabled consumers to receive Western Union® international or domestic money transfers into their registered GCash wallets 24/7– providing consumers with convenient access at their finger-tips. Following an agreement between the two companies, Western Union’s global cross-border platform was integrated with G-Xchange, Inc’s world class e-commerce platform to enable GCash users to direct money transfers into their GCash wallets from almost anywhere around the world and from within the Philippines.

“We want to offer the best services to Filipinos abroad and their families in the Philippines,” Mynt CEO Anthony Thomas said. “We are confident that collaborating with Western Union will provide a reliable and convenient mobile wallet-based money transfer platform for our customers. Two leading companies in their respective sectors having the same vision of helping people and businesses move money can definitely help grow economies and realize a better world.”

GCash is an internationally-acclaimed micro payment service that transforms a mobile phone into a virtual wallet for fast and convenient money transfers as well as to purchase goods, pay bills, buy airtime load, and donate. Usage of GCash mobile wallets is high with unbanked consumers in the Philippines, it lets them store, spend or cash-out as they wish.

“Western Union is delivering on our pledge to expand more digital and physical channels for money transfers to provide choice and more convenience for our customers,” said Bassem Awada, Western Union Regional Vice President for Malaysia, Indonesia, Singapore, Philippines and Brunei. “Our collaboration with G-Xchange is inspiring and together we are advancing financial inclusion, a key objective of the Government of the Philippines.”

In line with the regulations of the Bangko Sentral ng Pilipinas, prior to the first use of the Western Union service, consumers are required to register on the GCash app and provide a valid ID for verification. After registration, consumers can conveniently receive Western Union money transfers into their GCash wallets by simply inputting the unique tracking number (MTCN). Consumers within minutes can receive up to $500 per transaction (approximately 25,000 pesos) or $1,500 per day (approximately 75,000 pesos), up to a maximum GCash wallet capacity of 100,000 pesos (approximately $2,000).

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