GCash

Payment methods catering to specific countries have become extremely popular. If you’re wondering why, the answer is straightforward. Such solutions allow you to pay in your local currency, eliminating additional conversion fees. They also let you use the domestic services you’re already familiar with. This time we’re “visiting” the Philipines to zero in on GCash, a leading digital wallet in this country.

The e-wallet facilitates everyday online transactions for million users in the country. GCash succeeded in becoming a leading digital payment provider just a few years after its inception. It quickly conquered the market since, at first, it was the primary solution for SMS-based transactions, which enabled citizens without bank accounts to pay online. Then, the company diversified, becoming a digital payment provider offering various services through the dedicated mobile app.

We’ve carefully observed GCash as a payment option you’d want to use at online casinos. Read the entire review to learn if GCash could be your preferred online casino deposit and withdrawal method. Let’s jump right in.

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About GCash

Globe Fintech Innovations Inc. launched GCash in 2004. The company is also trading as Mynt, and its main product is a mobile wallet app tailored to meet the needs of Filipinos.

However, initially, GCash enabled users without bank accounts and payment cards to make different payments with a simple SMS message. This was a significant achievement since some 80% of the country’s population didn’t have bank accounts back then. To clarify – GCash SMS-based local transactions helped payers convert cash into digital funds to pay for various online services or goods.

In 2012, the company expanded its product portfolio with a mobile app providing cashless transfers online. The company’s success was cemented in 2017 when they partnered with Facebook, which implemented GCash into FB Messenger for the Philippine market. Three years later, in 2020, GCash teamed up with 7-Eleven outlets that became primary cash-out locations for many GCash clients. The following year (2021), the company introduced GCash Padala, a service which allows citizens to send money to non-app users.

Furthermore, GCash has developed more products, like Pera Padala and GCash Remit, which support cross-border money transfers. Finally, the clients can opt for GCash Mastercard and American Express Virtual Pay services or pay with GCash QR, among others. It’s up to you to pick the service that’s the most convenient for you.

However, the company keeps improving its products and services, and in 2023 only, it launched GChat Feature and implemented Zendesk’s CX Platform into its mobile wallet.

Target Markets

The Philippines are the primary and the only market where you can use GCash services. Over 50 million clients actively use GCash e-wallet and other offline services to make online transactions, including online casino deposits and withdrawals. Another prominent achievement of GCash is partnering with more than 60,000 merchants and retail shops nationwide.
Moreover, 40+ domestic banks support GCash, which allows users to credit their bank accounts at all leading banks in the country from their GCash wallet. The major banks cooperating with GCash include Philippine National Bank, Maybank, and PSBank, to name a few.

GCash Account

Registering a GCash account is easy. You can sign up on the official website when you click “Register” and follow the on-screen instructions starting with entering your mobile phone number. Another way of using GCash services is through its mobile app. In this review, we focus on the app. We, therefore, break down the registration process into a few easy-to-follow steps.

1. Download the app from Google Play or App Store and launch the app with your mobile number. Click “Next” to proceed.
2. Fill in the registration form with your name, email address and DOB. The provider will send you a verification code to confirm your email address.
3. Set up MPIN – your Mobile Personal Identification Number you’ll use to authorise all transactions. Make sure this 4-digit password is hard to guess. Enter the 4-digit PIN and confirm it.
4. If everything is fine, you’ll see a notification that you’ve successfully finished the registration. Then, click the “Proceed to Login” blue tab at the bottom.
5. Before logging into your GCash account, you’ll receive a 6-digit verification code for authorising your mobile device. When you complete this, you’ll see a confirmation screen. Submit your MPIN to access the e-wallet.
6. You will log into the basic version of the wallet with a limited number of services. If you want to use all of them, verify your GCash account. Not only will you have all available features, but you’ll also increase the limits in your wallet.

How to Deposit with GCash

GCash e-wallet is very easy to use for online casino deposits. First, find the service in the cashier and select it a payment method you’ll use to credit your balance. Type in the amount you plan to add when a new window appears. Select the casino’s GCash account or scan the QR code if enabled. When you complete the payment within the app, return to the casino’s deposit form and enter the necessary details, like the transaction ID. Easy as ABC.

How to Withdraw with GCash?

GCash cashouts are very similar to depositing money. The main difference is you need to open the withdrawal section in the cashier. Then, select GCash and enter the amount you want to collect from your casino balance. Provide all the details in the withdrawal form, double-check everything, and send the request. When the casino approves this transaction and money lands in your GCash e-wallet, you can transfer the funds to your bank account if you wish. Or collect the winnings at ATMs or GCash partner outlets. You decide what you prefer.

Transfer Times, Fees, and Security

GCash deposits are processed instantly. When you scan the QR code and confirm the payment to the casino’s GCash account, the money will appear in your balance. This will typically be finished within a minute or so.
On the other hand, cashouts take more time, as with any other payment method. First, you must count on the casino’s pending time necessary to check and confirm the transaction. Most online casinos have a 24-hour pending period. However, in some cases, you’ll receive the money within just a few hours. It all depends on how efficient the casino’s finance team is.

Online transactions are not subject to any fees. However, if you use the Over-The-Counter service at the partner outlets to credit your wallet, a 2% fee will apply if you surpass the monthly limit. Moreover, your local bank can also add certain processing costs.

Again, if you cash out money in one of the Over-The-Counter outlets, you’ll also pay a 2% fee. ATMs costs range from ₱10 to ₱18. The exact amount depends on the bank whose ATM you’re using.

In the end, let’s speak about GCash’s security. The company is fully regulated by the central bank of the Philippines. The Bangko Sentral ng Pilipinas (BSP) licence ensures that GCash is a trustworthy digital money processor. Other safety measures used include SSL encryption, firewalls, and biometric login.