GCash, the undisputed leader and preferred mobile wallet in the Philippines, remains to be the digital transfer platform of choice for the majority of the beneficiaries of the Kalingang Quezon City Sa Negosyo program of the city’s local government.
From a total of 4,000 beneficiaries under the program, 80 percent or 3,200 micro and small business enterprises will receive their subsidy through GCash, saving them from the hassle of physically going to disbursement sites or banks and helping them avoid the risk of contracting COVID-19.
“Since the onset of the pandemic, GCash has actively partnered with local government units in distributing cash aid to their constituents. Months later, this method has proved to be the most effective way of implementing social welfare programs on the part of the public sector as mobility is still limited in most areas in the metro,” GCash President Martha Sazon said.
To mitigate the economic impact brought by the pandemic, Kalingang QC Sa Negosyo aims to provide assistance to micro and small business enterprises so they can meet ongoing business costs by providing wage subsidies for their employees and their business operations.
Through the QC-Small Business and Cooperatives Development and Promotions Office (QC-SBCDPO), the Quezon City government will provide Php6,500 per employee for the month. The maximum amount that a microenterprise can receive in three months is P175,500, provided that it has the maximum number of nine employees.
Eligible microenterprises are those who have nine employees or less or with an asset size of up to Php 3 million, such as, but not limited to, sari-sari stores, canteens, laundry shops, computer shops, printing shops, or other similar businesses.
GCash has also partnered with the LGU last June for the Kalingang Quezon City Program Online Payout, where it distributed P2,000 in financial assistance to 5,200 persons with disability (PWDs), senior citizens, and solo parents.
“GCash has always been committed to providing users with the more convenient way of doing their finances. But under the new normal, choosing GCash has become a matter of safety and practicality. By using mobile wallets, we reduce the number of physical contact which will hopefully aid in eradicating the COVID-19 cases in the country,” Sazon said.
Sazon added that among its achievements this year is helping businesses of all sizes integrate modern modes of payment such as QR technology and digital transfers.
As of last month, GCash has over 86,000 partner merchants with a vast user base of 20 million Filipinos. With most businesses going digital, more and more micro, small, and medium enterprises are relying on GCash for transitioning into the online realm. Among the top types of businesses that have partnered with GCash are sari-sari stores, which have also adapted to new ways of doing business amid the pandemic.
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.