GCash Is Now 20: Just How Widely Used Is This Everyday App?
The hold this app has on us needs to be studied. We can start here.
(SPOT.ph) Can you even recall a time when GCash wasn’t a thing? Neither can we. It’s now hard to imagine life without it. And would you believe it's actually been around for 20 years this 2024. What started as a way to make mobile payments easier has evolved into a must-have app that’s changed how millions of Filipinos manage money every day. Don't we all have got that one friend who doesn’t even bother carrying cash anymore—sometimes worryingly (or annoyingly) so?
But the GCash legacy goes way beyond being a cash alternative. Here's a look at the app by the numbers—proof of just how much GCash has evolved and expanded over the last two decades.
Also read: What’s the Cheapest Way to Cash in On GCash?
GCash by the numbers
Nearly 80% of Filipinos—around 94 million people—have used GCash at some point. To put that in perspective, that’s more than the populations of Canada, Australia, and New Zealand combined. The platform isn’t just widely used; it’s also more frequently used than its competitors, with five times more monthly active users compared to other local financial apps, according to Data.ai.
Every time you make a transaction, GCash tracks the amount of carbon footprint you saved by opting for digital payments. So far, the company has contributed to a reduction of 138,000 metric tons of carbon dioxide emissions.
Businesses are also leaning into GCash in a big way. More than six million merchants and social sellers now rely on the platform for transactions—which is apparently enough to fill the Greenhills Shopping Center’s bazaar 4,000 times over.
GCash has disbursed over P155 billion in loans to individuals and enterprises, a sum large enough to fund the construction of 7,750 kilometers of roads from north to south of the Philippines.
Also read: ICYMI: GCash Is Now Accessible in 16 Countries Worldwide
Beyond its role in commerce, GCash has also helped Filipinos take greater control of their personal finances. The platform has 5.4 million unique borrowers, many of whom would have otherwise struggled to access traditional financial services. In parallel, GCash’s investment and savings services are gaining traction, with 682,000 users now trading stocks through GStocks.
Some 10.9 million individuals also save through GSave, where they can earn interest rates of up to 15%.
Insurance is another area where GCash has made significant strides. With 28.3 million insurance policies sold through its GInsure service, GCash has extended coverage to over one-third of the country’s smartphone users.
Also read: How Does GCash’s New Insurance Feature Work for Transactions?