The Future of Online Banking Amidst Crises The Enhanced Community - - PowerPoint PPT Presentation

The Future of Online Banking Amidst Crises

ECQ

Home Quarantine Physical Distancing Transport Suspension

Regulated Distribution of Food and Essential Health Services

• E-learning for students
• Mandatory work from home
• Closure of non-essential shops
• No work and no pay for daily wage earners
• Online meetings
• Online / P2P shopping
• Online transactions
• Delivery services
• Workers staying within

company’s offices/facilities

• No work for majority of drivers
• Panic-buying / bulk

purchases

• Mobile shops / markets

The Enhanced Community Quarantine (ECQ) disrupting businesses and consumers

Quick Disbursement Cash-out Options Buy Load Send Money QR Payment

GCash enabling mobile financial transactions during ECQ

Government to Consumers

Government

• Bayanihan to Heal as One Act
• 18Mn famlilies, P5k-P8k/month for

2 months

• Expanded and enhanced 4Ps

assistance through DSWD and DOLE

• Risk allowance to health workers
• Assistance Funds
• LTFRB – TNVS
• perators/employees
• DOLE - daily wage earners
• LGU - constituents

Challenge: Efficient, effective and accessible alternative channels for funds disbursement

• Only mobile number and

amount needed to disburse

• Self registration and e-KYC of

recipient through the Gcash app

• Palawan

Pawnshop

• Villarica
• Tambunting
• Puregold
• Bank Transfer
• 5% rebate when

buying load across all networks

• Send money

GCash to GCash or to banks for free

• Cashless transactions

in partner merchants like Puregold, Mercury, and Southstar Drug

Quick Disbursement Buy Load Send Money Cashout Options QR Payment

GCash enabling mobile financial transactions during ECQ

Businesses to Consumers

Businesses

• Communication Allowance
• Assistance Funds
• Salary / Commission / Incentive

Challenge: Accessible alternative channels for funds disbursement that can easily be used by employees

• Only mobile number and

amount needed to disburse

• Self registration and e-KYC of

recipient through the Gcash app

• Palawan

Pawnshop

• Villarica
• Tambunting
• Puregold
• GCash Card
• 5% rebate

when buying load across all networks

• Load home

prepaid WiFI as well

• Send money

GCash to GCash

• r to banks for

free

• Cashless transactions in

partner merchants like Puregold, Mercury, and Southstar Drug

Digital Banking Online and Offline Transfers Buy load P2P Sending Digital Payments

• Payments
• Direct donations
• Crowd sourcing/funding
• GCash wallet cash-in and

cash-out transactions

• Bank transfers for payments
• Bank transfers for donations
• Digital opening of account

through in-app e-KYC

• Online purchases
• Donations
• Bills payment
• Government contribution
• Digital load for mobile data

services and home prepaid wifi

• Gaming pins purchase

GCash enabling mobile financial transactions during ECQ

Consumer to Consumer, Business, and Government

Challenges and Limitations to Adopting Digital Financial Transactions

Transaction Limit

• Consumer Wallet: P100k daily, P100k monthly
• Corporate Individual: P100k daily, P500k monthly
• GCash Platform is for B2C and G2C

disbursements, or for C2B, C2G and C2C transactions.

• Being an e-wallet, it cannot be used for large

transactions (i.e. B2B or B2G)

Heavily Cash-based Transactions

• Limited merchants accepting digital

payments

• High need to still withdraw and use cash for

day-to-day transactions

Cash-in Source

• Majority of consumers, being unbanked,

need to do offline cash-in transactions

• Opportunity for more businesses to

disburse digitally to empower employees

Awareness and Education

• Awareness on features and benefits of

digital platforms

• Education on security features of digital

platforms, consumer rights, and data privacy

Access

• Smartphone and mobile data penetration

6

Thank you!