GCash boosts growth of MSMEs through responsive financial services and innovative solutions

With the digital economy accelerating, the Philippines' leading finance super app and largest cashless ecosystem GCash has become a trusted partner of micro, small, and medium enterprises by creating meaningful and responsive solutions that make it easier to access digital financial tools. GCash's impact on MSMEs is a testament to the company's steadfast commitment to delivering Finance For All.

GCash has emerged as a trusted partner for MSMEs, providing meaningful and responsive digital solutions to a sector often underserved by traditional banking

Davao Premium Food Venture Co., which franchises popular food brands in the Philippines, attests to the value of GCash on their business after being a partner for three years. Owners Kay Anjella Alcober and Jarre Cubio have seen GCash contribute a significant 5% to their company's revenue share, giving them the confidence to plan further expansion. This demonstrates how GCash is a key part of businesses' growth strategies.

GCash also makes an impact on small businesses in communities, such as DKM Pharmacy. Since becoming a GCash Pera Outlet Partner a year ago, DKM Pharmacy owner Madelyn Leonin has received an additional monthly income of Php12, 000, proving the impact of digital finance in generating more revenue streams. Meanwhile, Ailyn Javier's internet cafe and sari-sari store, Icy Cyberia Internet Cafe, is popular in her neighborhood because of the adoption of GCash, attracting residents, workers, and delivery drivers.

These success stories demonstrate GCash's commitment to bringing financial inclusion to MSMEs, a sector often overlooked by traditional banking services. By providing tools such as cashless payment services (Scan to Pay, QR payments, Send Money, API Integration, Funds Disbursement for payroll streamlining, wallet limit upgrade) or access to fair lending through GLoans For Business, GCash empowers MSMEs to stay competitive in a digitally evolving landscape.

"MSMEs make up more than 99% of businesses in the Philippines and contribute 35% to 40% to the gross domestic product or GDP," GCash B2B General Manager Jong Layug said. "GCash's commitment is to create a dynamic and responsive financial ecosystem that enables these businesses to thrive. When small businesses grow, they also spur growth in their communities.”

GCash For Business to unveil more innovations

Through GCash for Business, MSMEs have an entry point to cashless payments. This is especially crucial for retail and food and beverage businesses that rely on high-volume transactions, and which benefit from a faster and more efficient customer experience.  GCash is constantly innovating to meet a wider range of needs and challenges, and improve services that have proven essential to MSMEs.

Coming soon, retail and F&B businesses will be able to accept GCash payments with just a tap, cutting down long lines and the need for smaller enterprises to onboard additional manpower.

Another GCash innovation on the pipeline is a more affordable terminal that makes use of audio QR codes, which immediately confirm payment through an audio notification. This will reduce the effort on the part of customers to present the e-receipt of their GCash payment for proof. MSMEs that handle long lines will benefit from the convenience of the audio confirmation. The feature also enables portable payments, which is especially useful for MSMEs with booths and kiosks.

Lastly, GCash is rolling out a new innovation that will be of great convenience to the service industry, especially for front-facing workers such as delivery drivers and gasoline station employees. The device, made especially for MSMEs, provides businesses with the convenience of an affordable, lightweight, and portable device.

All these innovations boost the capabilities of GCash as a convenient, efficient, and fast financial service provider.

Making cities digital through GCash

In a bid to bring digital finance to more MSMEs, GCash is rolling out its DigiCities program in 27 cities.

DigiCities provides local government units with the tools to empower their businesses to go digital and to expand their business acumen, such as financial literacy workshops and GCash For Business hubs that allow easy onboarding to the platform. The program will also provide MSMEs with Masterclass sessions on how to use TikTok Shop, Canva, and other digital tools, boosting their digital marketing and branding capabilities to reach more customers. This is an initiative made possible through GCash's partnership with the Department of Trade and Industry (DTI), U.S. Agency for International Development (USAID), and StartUp Village.

MSMEs will also get access to mentorship from some of the most successful Pera Outlet businesses through the GCash Pera Outlet kapihan.

The pilot implementation of the DigiCities program aims to transform LGUs to become more digitally inclusive, not just within their business community but also with government services. GCash will be working with LGUs to enable convenience and accessibility in services like tax collection, revenue generation, public services, social welfare and financial aid

"GCash is only as good as its latest innovations—our technology is constantly evolving, and so are the needs of MSMEs. We need to make sure that the ecosystem that we are constantly developing addresses their needs," Sazon said. "Since our vision is Finance For All, we are always thinking of developing new tools and functionalities that will be useful for everyone in the digital economy, including MSMEs. This makes us the trusted partner of businesses, big and small, nationwide."

Some of the cities that have already being empowered through DigiCities include Quezon City, Manila, Caloocan, Parañaque, Muntinlupa, Baguio, San Fernando, Bacoor, Sta. Rosa, Lipa, Iloilo, Bacolod, Tagbilaran, Victorias, Davao, Cagayan de Oro, and General Santos City.