GoTyme Bank, a modern digital bank from Gokongwei Group in partnership with the Singapore-based Tyme Group, has officially launched in the Philippines.
The venture adapts a “phy-gital” model, combining both the physical touchpoints such as kiosks and secure digital transactions online via its app to help Filipinos with their financial needs.
With a high-tech approach, GoTyme Bank offers customers to open an account in just five minutes through its kiosks, for them to avail services such as:
- bank transfers
- shopping rewards
- interest savings
- customer service
Not only that, GoTyme will also have a debit card, rivaling the likes of Maya and GCash MasterCard. This allows customers to make transactions from local and international ATMs, including free transactions at Robinsons-affiliated retail outlets.
Currently, there are already 15 kiosks in select Robinsons supermarkets, with more locations set to open soon.
Send, shop, save
GoTyme Bank is also leaning on its Send-Shop-Save value proposition in hopes of standing out against rivals.
The service offers three free transfers a week straight from the app, on top of always free intra-GoTyme transfers.
The Go Shop feature, meanwhile, gives customers a better shopping experience, as each swipe of their GoTyme debit card will lead to GoRewards points at partner Robinsons stores. These points may be redeemed afterwards.
Lastly, Go Save lets patrons earn interest with no worries on promo durations and minimum balances. The “Save Your Change” feature will let people save too by rounding up to the nearest 10 or 100 pesos and putting that excess change automatically into a Go Save account.
GCash unveils plans for international, B2B expansion
At the Singapore FinTech Festival 2023
The past few months have been tremendous for GCash’s direction, and the e-wallet app has just unveiled its broader plans at the Singapore Fintech Festival 2023.
During the gathering, GCash presented a new app feature where users can view real-time foreign exchange rates in selected countries like Singapore, Japan, and the United States.
This development comes just a week after it was bared that GCash has partnered with Alipay+ to deliver cashless payments in 17 countries.
To date, the e-wallet can be used for cashless transactions in over 80 million merchants across 200 countries, giving users a convenient payment option when traveling abroad.
Last month, it was also announced that GCash how has a physical Visa card offering which can be used for POS terminals.
According to GCash president and CEO Martha Sazon, the e-wallet is exploring providing digital financial services for enterprise clients as part of strengthening its B2B operations.
In the future, nano, micro, small, and medium enterprises can also expect GCash to provide a helping hand using its suite of innovative business solutions.
GCash shares success story at Singapore FinTech Festival
Building Unicorns: An ASEAN Success Story
GCash had the opportunity to share its FinTech success story on the global stage recently when president and CEO Martha Sazon spoke at the Singapore FinTech Festival (SFF) 2023.
Joined by Globe president and CEO Ernest Cu, Sazon shared her insights in the panel discussion called “Building Unicorns: An ASEAN Success Story,” emphasizing the importance of making strides in transforming a country’s digital economy.
In recent years, GCash has gone from just a money transfer business into a financial super app that offers lending, investment, insurance, cryptocurrencies, and more.
Globally, GCash also broadened its presence by partnering with Alipay+ to allow users to pay using the e-wallet in 17 countries including Singapore, Japan, and the United States.
A few years ago, Mynt, GCash’s parent company, hit “double unicorn” status, meaning the company’s overall valuation already reached US$ 2 billion.
Singapore fintech announces UniPass Wallet in PH
Pay with stablecoins
Singapore fintech startup Account Labs has announced the launch of UniPass Wallet, the first Web3 crypto wallet that allows users to pay using stablecoins.
With the UniPass app, users can connect their Google Accounts and start sending money abroad using stablecoins anywhere in the world.
Users can make fast and low-cost cross-border payments while also avoiding the volatility risk of regular cryptocurrencies.
Using the app, they can execute transactions between different blockchain networks seamlessly, without the need to directly pay traditional gas fees.
UniPass launches in the Philippines first as a beta test, with plans to expand across Southeast Asia where there is a high demand for remittance solutions.
The Google login feature makes Web3 and crypto wallets more user-friendly for average consumers who are used to Web2 apps. This could also help drive mainstream adoption.
UniPass has already received support from major investors like Amber Group, MixMarvel, and Qiming Ventures.
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