GCash, the leading mobile wallet in the Philippines, has been tapped by the Department of Social Works and Development (DSWD) for the disbursement of its digital financial aid in a bid to hasten the distribution of the cash assistance to its beneficiaries.
Now, beneficiaries of the Social Amelioration Program (SAP) may choose to receive their cash aid safely, securely, and conveniently via GCash. By simply registering in the newly-launched online platform called ReliefAgad, beneficiaries may apply for the cash aid without the need to line up at government centers, thereby reducing the risk of COVID-19 transmission.
“The government’s decision to tap financial technology (fintech) players to disburse financial assistance to those who are severely affected by the pandemic is very commendable. Using the GCash platform for the program ensures that the distribution of cash aid is not only secure and convenient, but also reduces the risk of spreading the virus,” GCash President Martha Sazon said.
The DSWD has decided to digitalize the second tranche of the SAP through a partnership with the tech organization Developers Connect Philippines (DevCon) and the United States Agency for International Aid (USAID), both of which helped develop the ReliefAgad platform.
Through the platform, beneficiaries of the program may register and choose their preferred payout option. This not only ensures that the monies will be delivered straight to the recipients, but also ensures the safety of the beneficiaries and government employees, as it limits human interaction.
Aside from a higher risk of spreading COVID-19 brought about by the lack of physical distancing in distribution centers, using bank notes is also a possible way of transmitting the virus. Health experts found that paper money increases the risk of coronavirus transmission since harmful bacteria and viruses can survive on its surface for several days.
GCash provides a safer and better alternative to cash as it reduces costs and increases efficiency of transactions, better transparency and security, offers greater convenience, and promotes financial inclusion.
So far, more than 2 million users have registered themselves in the ReliefAgad platform, recognizing the advantages of the digital solution.
“In the face of a pandemic, mobile wallets have become a necessity. We at GCash are glad that the government has decided to tap us as a payout gateway for the SAP, and we are ready to implement this initiative through our best-in-class platform,” Sazon said.
Aside from cashing out the financial aid from tens of thousands of partner establishments, beneficiaries who opted to receive the government assistance via GCash may use their mobile wallets for a variety of services.
GCash empowers users to pay for physical and online transactions to over 75,000 merchants, transact with over 400 billers, and transfer funds to over 40 banks in the Philippines. GCash users may also use their GCash wallets to buy airtime load, save money, invest in money market funds, and purchase insurance products.
“As a strong government partner, GCash will always be open to provide help to the government for the welfare of our countrymen,” Sazon 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.
GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/.