Fintech News | Fintech Zoom

PayMaya, GCash elevate P13M to combat Covid-19


Monetary expertise (fintech)
platforms PayMaya and GCash have raised a complete of practically P13 million in
donations to assist curb the unfold of the coronavirus illness (Covid-19) within the
nation.

In separate statements, PayMaya
mentioned it raised about P7.eight million for 16 organizations whereas GCash raised P4.5
million for its seven accomplice teams. The quantities have been used both to offer
help to those that are struggling to make ends meet throughout the enhanced
neighborhood lockdown or to fund the acquisition of medical gears for frontline
well being employees.

“The response now we have gotten simply
every week after launch has been great, which solely highlights not simply the
magnanimity but additionally the creativity of Filipinos in responding to this disaster,
aided by expertise,” mentioned PayMaya CEO Orlando B. Vea.

For his half, GCash President
Anthony Thomas mentioned the early success of the digital donation drives reveals that
fintech is now extra than simply cell wallets and digital currencies, however is
additionally a channel for social initiatives.

“It’s heartwarming to see first
hand how the uniquely Filipino Spirit of Bayanihan works. Since day one,
now we have envisioned the GCash platform to be a channel of excellent, and now we’re
seeing people and organizations maximizing the GCash app to effectively
facilitate donations for noble causes. We hope that as we additional develop our
platform, we proceed to make a significant affect within the lives of these in
want,” he mentioned.

PayMaya has partnered with 16
organizations for its #OneAgainstCOVID19 initiative. They’re: Philippine Crimson
Cross, Unicef, PGH Medical Basis, Caritas Manila, OXFAM Pilipinas,
Philippine Enterprise for Social Progress, Philippine Catastrophe Resilience Basis,
Kaya Natin! Motion for Good Governance & Moral Management, Ronald
McDonald Home of Charities Philippines, YesPinoy Basis, Alagang Kapatid
Basis, PLDT-Sensible Basis, Rock Ed Philippines, UTownPen Basis,
#nowheretogobutUP Basis, and the #UniTENTweStandPH initiative of actress
Angel Locsin.

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GCash is supporting seven
organizations specifically: the Philippine Catastrophe Resilience Basis (PDRF), the
Philippine Crimson Cross (PRC), World Imaginative and prescient, UP Medical Basis, PGH Basis
Inc., ABS-CBN Lingkod Kapamilya Basis, and Ayala Basis.

People, nongovernment
organizations, and sociocivic teams are additionally using the 2 cell wallets
to gather donations for their very own Covid-19 response drives.

Jung Min-seo

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