Mobile payments wallet provider GCash has reportedly been chosen by the Technical Education and Skills Development Authority (TESDA) in the Philippines to distribute funding for training to local residents.
TESDA has joined many other businesses and organizations that are using the GCash platform to carry out all-digital and contactless payments during the COVID-19 pandemic.
Martha Sazon, CEO and President at GCash, stated:
“GCash has been actively supporting the government in delivering much needed support to Filipinos since the onset of the pandemic. We understand that fintech plays a key role in carrying out social assistance programs faster and safer, especially now that we are still figuring out how to transition back to normalcy.”
TESDA’s adoption of GCash should help with streamlining operations and could potentially reduce operational costs. TESDA program participants will now be able to save time because they won’t have to take trips to field offices or claim centers in order to receive funds. Under this agreement, TESDA participants will get as much as P160 per training day from the agency via the GCash platform.
As first reported by MSN, eligible beneficiaries will have to install the GCash app on their mobile devices and coordinate with approved or authorized TESDA workers in order to get their training subsidy.
Isidro Lapeña, TESDA Secretary, confirmed that the agency has been trying to look for ways to continue serving its clients without exposing them to Coronavirus.
“[During] the early stages of the pandemic, I [had] instructed our Regional Operations Management Office to find a safe and effective way [to] distribute training support funding….Now that we have this partnership with GCash, this can really help our kababayans, especially the ones who are in the far-flung areas.”
GCash has also been used by the Department of Social Welfare and Development and government agencies in Makati and Quezon City. These organizations have used the digital payments platform to distribute funding to qualified beneficiaries.
The digital wallet firm has helped with distributing more than P16 billion (appr. $332 million) in financial assistance to over 2 million residents.
“Fintech is not a trend; it’s here to stay to continue supporting the financial lifestyle of Filipino consumers and businesses under the new normal.”
“Aside from offering a layer of safety against the pandemic, it also empowers users [with] a more practical and convenient approach of managing their finances. GCash serves as a one-stop shop in receiving money, paying bills, transacting online, and even sending money to inaanaks and pamangkins this holiday season.”