GCash partners with Europe's TransferGo for instant remittances

GCash, operated by G-Xchange Inc., has partnered with European international money transfer service provider TransferGo to enable overseas Filipinos to send money directly and instantly to GCash wallets.

Under the partnership, TransferGo users in the United Kingdom and in Europe will be able to send money directly to GCash wallets, which can immediately be used for financial transactions within the GCash ecosystem.

“This partnership strengthens GCash’s international remittance network and ensures that Filipino families get their funds quickly, safely, and conveniently,” GCash International general manager Arjun Varma said in an emailed statement.

This was mirrored by TransferGo chief executive officer and co-founder Daumantas Dvilinskas, with the partnership expanding payout options in Southeast Asia.

“We remain steadfast in our commitment to providing our customers with more opportunities to stay connected with family and friends. We do this by delivering more affordable, fast, and reliable money transfer solutions for the Filipino diaspora,” he added.

G-Xchange is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations Inc.), which is in turn a partnership between Globe Telecom Inc., the Ayala Corp., and Ant Financial.

Mynt has been widely anticipated to hold its initial public offering (IPO), and is one of the two expected by the Philippine Stock Exchange (PSE) to do so this year.

“Mynt and its shareholders remain open to various capital solutions, including an IPO. However, no official decision has been made regarding the timing,” Globe chief financial officer and treasurer Juan Carlo Puno said on May 12.

“In the meantime, the focus really of Mynt is its commitment to growing its business amidst the ever-evolving macro and regulatory conditions,” he added. —VAL, GMA News