MAKATI CITY – Globe Fintech Innovations Inc. (Mynt), the company behind the mobile money app Gcash, teamed up with the local government of Makati to efficiently disburse roughly P2.7 billion in economic aid to the 500,000 residents of the city.
GCash will be providing a digital disbursement facility in aid of the expanded Makatizen Economic Relief Program that will provide financial assistance to the city residents affected by the current Covid-19 pandemic.
Instead of disbursing the financial manually through the city hall, Makati will use the Gcash platform to efficiently and safely provide aid to its constituents. Further reducing the risk of transmission of the virus.
GCash Vice President for Enterprise Luigi Reyes said: “Makati City has always been one of the most forward-looking local governments in the Philippines, and GCash is ready to help it achieve its goal. We are happy to see our platform being used by government units to fight Covid-19 and ultimately flatten the curve. GCash provides a quick, safe and secure data-driven disbursement platform for the city,”
Makati City Mayor Abby Binay announced the “MAKA-tulong 5K for 500K+ Makatizens” project to help its residents survive the effects of the Covid-19 pandemic.
To qualify as beneficiary, the resident must be 18 years old and a registered either as a Makatizen Card holder, or as a Yellow Card holder under the Makati Health Program, or as a voter in Makati City.
Once an application has been approved, the financial aid will be sent to the GCash account of the beneficiary.
“The MAKA-tulong 5K for 500K+ Makatizens program, which will cost P2.7 billion, is intended to provide much-needed financial assistance to residents on an individual basis, not per household, as we begin to emerge from the prolonged community quarantine,” Binay said. GCash is part of the portfolio companies of 917Ventures is the largest corporate incubator in the Philippines, the largest corporate incubator in the Philippines and wholly-owned by Globe Telecom Inc.