Payoneer, GCash partner for seamless global to local payment transactions

Published October 1, 2020, 1:54 PM

by Bernie Cahiles-Magkilat

GCash-Pioneer webinar.

              GCash, the leading mobile wallet in the country, has launched its partnership with Payoneer creating seamless global to local payment transactions.

With over 20 million GCash users and 63,000 partner merchants, Payoneer users can now enjoy innovative ways to pay bills, shop, dine, and more, as they experience the features that come with GCash, the country’s leading mobile wallet.

Payoneer users can already be able to access their remittances anytime, anywhere, by simply linking their accounts directly to GCash.

“At Payoneer, our work is to encourage businesses to defy limits by making cross-border payments more inclusive. Now that new lifestyles and habits emerge, we cater to our ever-evolving market by growing our services in partnership with GCash, allowing Filipinos to have more financial mobility, simply and safely from the convenience of their phones,” said Miguel Warren, Payoneer’s Regional Head of South East Asia and Pakistan, and General Manager – Hong Kong during a virtual briefing.

This would also gear up local MSMEs (micro, small, and medium enterprises) in accessing improved financial solutions by providing an avenue for smoother and more convenient online transactions.

The partnership was timely in light of the continuing pandemic, which only heightened and drove new market behaviors, businesses and private individuals adapt by exploring online commerce opportunities in the new normal.

With the COVID-19 pandemic, more than ever, Filipinos embrace contactless payment options, in observance of physical distancing measures and other safety protocols.

Warren said that Payoneer’s mission is to empower businesses to go beyond – beyond borders, limits and expectations. In today’s digital world, Payoneer’s platform streamlines global commerce for millions of businesses from 200 countries and territories, delivering a suite of services including cross-border payments, working capital, tax solutions, merchant services and risk management.

For her part, GCash President Martha Sazon said the global partnership between the two major players in the digital payments space will allow Philippine-based digital freelancers, online sellers and entrepreneurs to transfer their income and funds online from international clients from Payoneer to the GCash app.

“We understand that one of the key success factors in serving more people is through partnerships. We believe our partnership with Payoneer can present enormous benefits and can connect Filipinos to payments anywhere around the world as seamless and effective as one click,” Sazon said.

“Receiving payouts or remittance funds globally and transferring that to your GCash account presents multiple benefits and rewards as you can use it to fit your needs in a faster and cheaper way, with more added value,” Sazon said.

As the leading mobile payments leader in the Philippines, GCash accounts for the majority of the share in the country’s digital financial technology space and recording over 20 million users at present. The app has been a trusted companion to Filipinos in fulfilling their needs in this time of 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.