Julia Christine Botin

GCash inks deal to let Filipinos in US, Canada to send remittances in real time

Article (news)

Arthur Fuentes

ABS-CBN News

MANILA -- Filipinos in the United States and Canada will soon be able to send money directly to the GCash accounts in the Philippines, the country&#x27;s largest fintech platform said on Tuesday.GCash said it has signed a deal with Viamericas, a leading licensed money transmitter in the United States, which will allow overseas Filipinos in North America to remit straight to GCash accounts in the Philippines in real time.The US has consistently ranked as the top source of remittances to the Philippines, based on data from the Bangko Sentral ng Pilipinas.Paul Albano, GCash International general manager, said the deal aims to provide fast and secure financial services to Filipinos based in North American countries and their families in the Philippines.“The partnership between Viamericas and GCash empowers OFWs in these locations to send secure and fast remittances to their loved ones back home. This collaboration enhances financial control for OFWs and strengthens connections with their families, making the remittance process easier than ever.”Joseph Argilagos, Viamericas’ co-founder and executive chairman said the alliance expands its capabilities in the Philippines by integrating its services with GCash,“This partnership perfectly aligns with our mission to empower communities by providing accessible, affordable, and reliable financial services.” he noted. Viamericas has multiple locations across North America, which enables ease of sending for Filipinos, wherever they are in the region.GCash said about 81 percent of Filipinos own a GCash account. The fintech firm&#x27;s valuation soared to $5 billion last year after securing additional funding from Ayala Corp and Japanese financing giant MUFG.GCash operator Mynt may hold an initial public offering in the Philippines, according to parent firm Globe Telecom. But Globe President and CEO Ernest Cu said they were looking to offer a smaller public float than the 20 percent mandated by securities regulators.

GCash said its deal with Viamericas will allow overseas Filipinos in North America to remit straight to GCash accounts in the Philippines in real time

GCash said its deal with Viamericas will allow overseas Filipinos in North America to remit straight to GCash accounts in the Philippines in real time