GCash, the Philippines’ leading finance app and largest cashless ecosystem, has partnered with New York-based Meridian to enable cash-ins and remittances from over 12,000 US banks.
The feature is aimed at strengthening GCash’s international presence and catering to the digital finance needs of Filipinos abroad.
The new feature allows GCash app users with US-based bank accounts, including those from Wells Fargo, Bank of America, and Chase, to link their accounts to GCash.
Funds transferred from these US bank accounts are automatically converted to Philippine pesos at competitive foreign exchange rates and instantly deposited into the user’s GCash wallet.
Each cash-in transaction incurs a fixed fee of US$1, offering a cost-effective alternative to traditional remittance methods.
“We have been staying true to our commitment to support our kababayan abroad, empowering them to have more control over their finances and ensuring that their transactions are more convenient at every step of the process,” said Paul Albano, General Manager of GCash International.
“Our partnership with Meridian has led to this truly groundbreaking feature in service of Filipinos—and it is only one of many new GCash innovations we are developing for our countrymen, wherever they may be in the world.”
Will Haering, CEO of Meridian, expressed his enthusiasm about the collaboration.
“We are thrilled to partner with GCash, the leading fintech company in the Philippines, and we look forward to our service making a difference in the lives of GCash users. At Meridian, we are dedicated to developing financial solutions that improve everyone’s digital banking experience as well as, crucially, innovations that align with our mission of bringing the world closer together—two key goals that we share with GCash.”
This seamless integration with US financial institutions eliminates the need for multi-application remittance processes, keeping more users’ money within the GCash ecosystem. It is part of GCash’s broader strategy to expand globally and cater to around two million overseas Filipino workers and outbound tourists.
Earlier this year, GCash announced its global expansion, now allowing Filipinos in 14 territories—including the US, Canada, Italy, the UK, Australia, and several Asian and European countries—to sign up and use the app with international mobile numbers.
Kuwait and Saudi Arabia are expected to join the list in the second half of 2024.
GCash and Meridian also plan to roll out similar initiatives in the United Kingdom and throughout the European Union, aiming to revolutionize cross-border financial transactions and solidify GCash’s position as a leader in digital financial services.
