GCash, the country’s top finance app and only double unicorn, is among the top 10 apps in the Philippines in four categories, according to the just released 2022 State of Mobile report of data.ai (formerly App Annie), cementing its position as the top e-wallet for Filipinos.
The mobile wallet, operated by the Globe Group’s Mynt, ranked the #4 top app in downloads in the Philippines, and #5 in terms of monthly active users in the country across all categories. Notably, it was the only fintech app on the top 10 list in both categories, alongside social media, chat and e-commerce apps.
Meanwhile, GCash’s parent Globe was ranked the #4 top company in terms of app downloads across all categories, edging out the only other telco in the list operating an e-wallet, which was in 8th place.
Among finance apps, meanwhile, GCash was ranked 2nd in terms of the category breakout monthly active users, but is the top mobile wallet on the list.
We are proud to be among the top 10 apps in several categories in the new data.ai report. This affirms our standing as the country’s undisputed No. 1 fintech app and inspires us to continue evolving our services to achieve our goal of Finance for All.GCash President and CEO Martha Sazon
Now valued at over $2 billion, GCash has maintained market leadership despite the entry of new players as it continues to expand its financial services and lifestyle offerings under one superapp. From payments and cash transfers, GCash now offers credit, savings, wealth and insurance products, and also features retail, food, wellness, travel, recreation and even real estate services.
It currently has 76 million registered users, logging staggering growth during the pandemic from around 20 million in 2019. It has also been supporting Filipino entrepreneurs with 5.8 million merchants and social sellers on board, and 855 GLife merchant partners.
Through its GLoan, GCredit and GGives services, GCash has disbursed over ₱57 billion in loans life-to-date to 2 million unique borrowers.
GCash has been ramping up efforts to expand its presence in more corners of the country through partnering with local government units.
GCash (G-Xchange, Inc.) is the #1 Finance App in the Philippines. Through the GCash App, 71M registered users can easily purchase prepaid airtime; pay bills at over 1,600 partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 5.2M partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only double unicorn in the Philippines.
GCash was recognized by The Asian Banker (TAB) and by the IDC in 2021 for its outstanding digital financial inclusion programs.