One of the country’s leading mobile wallet companies introduced a slew of new products and services to help everyone thrive in the midst of the pandemic in order to make financial solutions more accessible to everyone.
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One of these providers is GInvest, the investment feature in the Gcash app. Users can invest in professionally managed local and global funds for as little as Php 50.
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Here’s a Great Way to Start Investing this 2021? Check Out GInvest
With COVID-19 restrictions in place, the e-wallet app allows users to invest without visiting a bank, according to the Philippine Star.
GCash remains committed to making financing accessible to all, with its 2021 portfolio of affordable products and services designed to jumpstart growth for everyone.
GInvest, the GCash app’s newest easy investment feature that allows you to invest as little as P50 in professionally-managed local and global funds, enables customers to achieve their life goals at any time.
“The money you save in GCcash could also be used to open an investment account that allows you to invest in both local and global funds. There’s no need to go to the bank or even have a bank account to start investing,” Maxine Pinpin, head of Investments at Gcash said during the Gcash Futurecast last week.
“You can start investing for as low as P50 in local funds and P1,000 for global investment funds with no transaction fee,” she added.
Users should only have to determine which investment strategy is right for them, according to Pinpin.
Local and global investments for everyone
She also listed the financial ventures that various types of investors can gain access to via the mobile wallet app.
“If you’re conservative in terms of investment, you could try our Money Market Fund which invests in time deposits and short-term financial instruments at banks like BPI, RCBC,” Pinpin said.
“For investors that are willing to take on moderate risks, our Philippine bond fund is right for you where you can invest in local bonds of large Filipino companies and even the government,” the head of the app’s investment also said.
She also mentioned that those who want to take a more aggressive approach can invest in the country’s largest companies through the Philippine equity fund.
According to Pinpin, e-wallet users can invest in tech conglomerates and other foreign firms through global funds.
“Local tech allows you to invest in companies like Apple, Google Microsoft…Users interested in trailblazing consumer companies like Amazon and Alibaba. You may choose to invest in our Global Consumer Trends Funds,” she added.
Users can use the app to monitor the returns on their transactions in real-time, according to the mobile wallet.
GInvest now has over a million users.
Insurance coverage
GCash users can buy, save, get insurance, and do other things in addition to investing all within the same app.
GInsure protection for medical emergencies such as Dengue, COVID-19, and accidents can be obtained for as little as P300.
Consumers will then be able to obtain financial assistance via Cash For Medical Costs and the newly implemented Cash For Income Loss Due to Any Cause, all of which are accessible via the app.
Money management
Meanwhile, it offers easy money management through GSave.
It said it is “the fully digital, secure, hassle-free savings account that was built in partnership with CIMB Bank, wherein the only requirement to start is an ID and a smartphone.”
“It’s fully accessible once the account is created; and has no maintaining balance, no fees, and no initial deposit,” the mobile app added.
In the midst of the pandemic, many small-to-medium businesses in the Philippines have started to go cashless with their payment methods by using an e-wallet.
“At GCash we want to be able to democratize access to financial services,” shared JF Darre, head of financial services and advanced analytics of GCash.
“We aim to break down barriers of entry for Filipinos and make them realize that saving, investing, or even insuring one’s finances can be accessible to all,” he added.
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