GCash's new top-up solution enables direct funding from
overseas within digital wallets
MANILA,
Philippines and LONDON, Nov. 6, 2024
/PRNewswire/ -- Thunes, the Smart Superhighway to move money around
the world, today announced a new collaboration with GCash, the
leading digital wallet in the
Philippines. This ground-breaking initiative enables GCash
users to top up their wallet balances directly within the app using
funds from their U.K. and European bank accounts. This
collaboration makes cross-border top-ups real-time and more cost
efficient, offering GCash users in Europe more convenience and financial
control.
About 2 million Filipino expatriates live and work in
Europe and maintain ties to
the Philippines. Those who own a
GCash digital wallet can now better support their relatives back
home by topping up their wallet instantly, and by ensuring that the
money is used as intended, whether for education, healthcare, or
household expenses. This innovative initiative highlights the
importance that Thunes and GCash place on financial inclusion and
community empowerment by helping people improve financial oversight
and spending management.
As a Member of Thunes' proprietary Direct Global Network,
leveraging its SmartX Treasury System and Fortress Compliance
Platform, GCash enjoys unrivaled speed, control, visibility,
protection, and cost efficiencies for their customers'
cross-border account top-ups within their GCash account.
Paul Albano, General Manager
of GCash International, said, "We are delighted to be a Member
of Thunes' Direct Global Network, to enable GCash users to top up
their accounts instantly from their overseas bank accounts. This
service will support hundreds of thousands of Filipinos in the U.K.
and Europe by improving how they
move money across borders into their digital wallets with better
control over their finances. In this way, Filipinos living abroad
can better utilize GCash to maintain ties with their home
communities."
Floris de Kort, CEO of
Thunes, added, "We are expanding our collaboration with GCash,
a long-standing valued Member of our Direct Global Network, to
transform digital wallet top-ups. Through Thunes' Direct Global
Network, we are now delivering an instant top-up service that
simplifies cross-border transactions. Our alliance with GCash is a
testament to our passion for innovation, the versatility of our
proprietary network, and our dedication to financial inclusion
through money movement around the world."
Notes to Editors:
Many Filipinos have strong family
ties and business relationships back in the Philippines. Filipinos utilize GCash
to pay bills, goods and services, friends and family, and obtain
financing. The wallet facilitates purpose-driven payments to pay
medical bills, housing costs and education.
GCash has helped enable unbanked and underbanked Filipinos take
part in the internet and gig economy, spurring financial
inclusion.
According to the World Bank, the
Philippines has the fourth largest market worldwide for
inbound remittances, with $39 billion sent in 2024. In 2024,
Europe sent $3.8 billion to the Philippines.
About Thunes:
Thunes is the Smart Superhighway to
move money around the world. Thunes' proprietary Direct Global
Network allows Members to make payments in real-time in over 130
countries and more than 80 currencies. Thunes' Network connects
directly to over 7 billion mobile wallets and bank accounts
worldwide, as well as 15 billion cards via more than 320 different
payment methods, such as GCash, M-Pesa, Airtel, MTN, Orange,
JazzCash, Easypaisa, AliPay, WeChat Pay and many more. Thunes'
Direct Global Network differentiates itself through its worldwide
reach, in-house SmartX Treasury System and Fortress Compliance
Platform, ensuring Members of the Network receive unrivaled speed,
control, visibility, protection, and cost efficiencies when making
real-time payments, globally. Members of Thunes' Direct Global
Network include gig economy giants like Uber and Deliveroo,
super-apps like Grab and WeChat, MTOs, fintechs, PSPs and banks.
Headquartered in Singapore, Thunes
has offices in 15 locations, including Abidjan, Barcelona, Beijing, Dubai, Hong
Kong, Johannesburg,
London, Manila, Nairobi, Paris, Riyadh, San
Francisco, Sao Paulo and
Shanghai. For more information,
visit: https://www.thunes.com/
About GCash
GCash is the Philippines' #1
Finance Super App and Largest Cashless Ecosystem. Through the GCash
App, users can easily purchase prepaid airtime; pay bills via
partner billers nationwide; send and receive money anywhere in
the Philippines, even to other
bank accounts; purchase from over 6 million 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. Its mobile wallet operations are handled by G-Xchange,
Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only
$5 billion unicorn in the Philippines.
GCash is a staunch supporter of the United Nations Sustainable
Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13,
which focus on safety & security, financial inclusion,
diversity, equity, and inclusion as well as taking urgent action to
combat climate change and its impacts, respectively.
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