GCash waives remittance transaction fees this ECQ

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GCash, the mobile wallet arm of Globe Telecom, Inc., is waiving transaction fees for its remittance service GCash Padala until Aug. 20, the end of the enhanced community quarantine (ECQ).

“To reduce travels and keep activities to only the essentials, GCash Padala allows senders to save time and effort from physically going to remittance centers, providing them the convenience of doing this through their mobile phones,” said GCash and digital financial service provider Ayannah in a joint announcement on Friday.

Ayannah’s remittance network allows recipients to claim their cash through over 2,000 participating Tambunting, Panalo Express, and VIP Center branches, with more agents joining in the coming weeks.

“The COVID (coronavirus disease) pandemic has made it urgent and necessary to provide options to send and receive money in an affordable, convenient and safe manner,” they said in the statement.

Citing a 2019 Financial Inclusion Survey by the Bangko Sentral ng Pilipinas, the payment solutions providers said that one in three Filipino adults send or receive over 120 million domestic money remittances monthly, adding up to an annual domestic money remittance volume of over P2 trillion, 80% of which is still done over the counter. — B. H. Lacsamana

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