GLOBE Fintech Innovations Inc., operator of the brand Mynt, now allows users of its e-money service GCash to transfer funds from their mobile wallets to more than 30 banks, its chief executive said on Thursday.
Mynt President Anthony Thomas said customers can now transfer funds via the updated GCash mobile application to major banks at no charge to the consumer.
“This new technology from GCash and the Bangko Sentral ng Pilipinas [BSP] allows customers to enjoy the freedom of being able to transfer funds conveniently with just their smartphone,” he said.
This is in line with the BSP’s initiative to unify all forms of electronic payments into a centralized, real-time automated clearing house. The system, called InstaPay, allows for faster and smoother inter-network transactions among financial institutions, including banks and electronic money issuers.