In 2004, it was reported that 80% of Filipinos remained unbanked. To solve this problem, Globe Telecom entered fintech and launched GCash in 2004 under its subsidiary: Mynt - Globe’s Fintech Innovations.
When Ant Financial invested in GCash, it took a simple payments app and transformed it into a super app that millions of Filipinos now use daily.
In June 2021, GCash reports that it has over 46 million users. Higher than its rival Maya with over 38 million users.
This is the story of how GCash became one of the most valuable companies in the Philippines.
How GCash Started
Who owns GCash?
What is Alipay?
GCash's rivals: Maya and Tencent
How big is Tencent?
GCash vs. Maya
Why GCash has an edge over Maya
Why GCash skyrocketed during the pandemic
My name is Chris - and I talk about brands in the Philippines. Subscribe to my YouTube channel for more videos.
You can also listen to this story on the podcast.