GCash taps gov’t partnerships to cushion oil crisis impact

MANILA — The Philippines is leveraging fintech and government collaboration to insulate consumers from a “triple-hit” of rising fuel costs, inflation, and economic volatility, according to Martha Sazon, president and CEO of Mynt.

Speaking at the CNBC CONVERGE LIVE 2026 event at the Jewel in Singapore, the head of GCash’s parent company emphasized that digital platforms have become essential infrastructure for national economic resilience.

“We have been helping in the distribution of government aid, especially fuel subsidies to public transport drivers and to encourage more mobility,” Sazon told a panel of regional leaders. “The best way to cope with this is to work with the government.”

In a direct partnership with the Land Transportation Franchising and Regulatory Board (LTFRB), GCash now facilitates digital disbursements to thousands of transport operators.

The initiative is paired with consumer-side relief, including a 50% fare discount for MRT-3 passengers who pay via the app—a move designed to keep daily commuting affordable for the workforce.

The fintech giant is also looking beyond domestic borders.

Sazon announced that GCash is waiving all inbound and outbound transaction fees for Filipinos in the Middle East through April 30, 2026, to ensure the steady flow of remittances.

“Remittance from Filipinos overseas is one of the key revenue sources of the country,” Sazon said, noting that the platform has also pivoted to offer livelihood tools like GJobs and GCash Pera Outlet for repatriated workers.

The discussion, which included executives from GoTo Group and FWD Group, highlighted a regional shift toward “digital inclusion” as a shield against global headwinds.

While Indonesia faces potential subsidy cuts and inflation risks, Sazon noted that the Philippine strategy relies on a blend of fiscal vigilance and digital micro-business tools to sustain domestic consumption.

Beyond emergency aid, GCash has ramped up financial literacy campaigns and accessible investment options to help users manage long-term savings amid the ongoing energy crisis.