[14TH JULY 2022, SINGAPORE] – Responding to increasing market demand for low-cost, real-time payment services, Moolahgo has expanded its payment to e-wallet service to include the Philippines e-wallet GCash. What sets Moolahgo apart from other remittance apps is that its service allows a Moolahgo user to simply select a phone number saved in the phonebook and send money real-time (24×7) to the payee’s GCash wallet in the Philippines. Moolahgo is also making this technology available to its partners as part of its Payment-as-a-Service platform.
GCash is one of the leaders in the Philippines’ e-wallet market. With the addition of this service, Moolahgo now has access to reach the more than 50 million GCash users in its real-time payment network.
It’s also worth noting that Moolahgo has done this within a short span after their recent roll-out of a similar service to five major e-Wallets in Indonesia (OVO, GoPay, LinkAja, Dana, ShopeePay totaling more than 300 million users), a service that has seen tremendous take-up rate amongst its e-wallet users and making the Moolahgo e-wallet an app of choice for transferring money to Indonesia. Moolahgo also recently announced it has launched a Pay to Visa debit / prepaid card service, making it the first non-bank e-wallet to offer such a service in Singapore.
“This is yet another important milestone in our company’s vision of creating a frictionless fiat-money transfer system. There’s been lots of talks of late about cryptocurrencies being the ultimate answer to low-cost and fast currency movement solutions. At Moolahgo, we believe that fiat money movement can similarly be extremely fast and low-cost and we’ve proven this is possible with our technologies,” says Mr. Jodi Junan, Chief Technology Officer at Moolahgo.
The addition of this Pay Now to GCash e-wallet service is a major welcome to Moolahgo’s Filipino users as the unbanked / underbanked population in the Philippines is still high. This service allows Moolahgo’s e-wallet to become even more inclusive.
Moolahgo’s Pay Now to Philippines GCash service costs only S$0.50 per transaction as at the time of this writing. And as always, users of the service get to enjoy competitive rates from Moolahgo as well.
About Moolahgo Pte Ltd
Moolahgo is a leading multi-currency digital payments specialist headquartered in Singapore. Founded in 2017, Moolahgo has grown from servicing businesses across diverse segments with competitive FX and cross-border payment services to providing innovative digital payment tools in an eWallet mobile app for consumers. As a Fintech, it aims to transform the payments landscape across Asia, bringing the benefits of real-time money flows to the under/un-banked and enriching lives across the region. Moolahgo is a Major Payment Institution licensed by the Monetary Authority of Singapore across multiple areas of payment services.
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Issued by Moolahgo Pte Ltd. For media queries, please contact:
Stephanie Lu
Head, Marketing
Moolahgo Pte Ltd
6 Shenton Way, #12-08A OUE Downtown 2, Singapore 068809
Tel : +(65) 6550 2209 | Mobile : +(65) 9744 1277
Email : stephanie.lu@moolahgo.com
