This launch and partnership come at a time where GCash has seen a surge in online transactions and is on track to hit USD 60 billion in full-year gross transactions. This was driven by Filipino consumers shifting to online for their daily needs, according to the press release.
The Online Shopping protection is one of the first products Igloo will be launching with GCash and its customers but will soon be rolling out more products with the e-wallet platform in the future that will be geared towards MSMEs, securing the entire ecosystem of both seller-business owner-and-buyer.
Company’s officials state that over 70% of Southeast Asia is online and, in 2020, the region saw 40 million new users join the internet. In a recent survey, the Philippines alone saw 37% of all digital service consumers are new to the service due to COVID-19. The survey also shows 97% of these new digital consumers will continue to use digital services going forward.
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