In a month of pilot-testing the link-up of PayPal and GCash accounts, users have grown from 300 to 2,000.
PayPal has been operating in the Philippine market since 2008 and now has a network of 197 million consumers and 15 million merchants worldwide.
GCash complements PayPal’s global reach by providing MSMEs and freelancers the platform to receive payment from overseas and withdraw funds locally via a MasterCard branded card.
Traditionally, MSME business owners and freelancers who have transferred their PayPal funds to their bank accounts may only be able to withdraw their funds after several days. They may also be charged corresponding transfer and withdrawal fees.
But with the Paypal-G-Cash partnership, customers will be able to transfer their available PayPal balance at zero withdrawal fees and gain access to their funds within 24 hours.
By linking their PayPal account to their GCash account, users are now able to access their balances through the GCash app.
Users can then transfer their available PayPal balance to their GCash account and withdraw it through their GCash MasterCard at over 20,000 BancNet ATMs located across the Philippines and over 12,000 Globe Partner Outlets (GPOs) nationwide within the same day.
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