GCash Credit Card coming soon?
Just saw this article. Please correct me if I'm wrong but afaik, only banks can issue credit cards. Maybe this will be a BNPL card similar to Atome, Salmon, Luvit, etc. (???). Anyway, I'm excited for this and I hope it will push through!
What are your thoughts?
JAKARTA – GCash, the largest digital wallet platform in the Philippines, is now preparing for a major expansion into the credit card sector.
With a valuation of USD 5 billion, the joint venture between Jaime Augusto Zobel de Ayala’s (JAZA) Ayala Group and Jack Ma’s Alibaba Group is currently seeking a new business unit head to lead the initiative.
According to the Jack Ma Alibaba Foundation’s Facebook account on Saturday (26/4), this move marks GCash’s continued strategy to broaden its digital financial services portfolio, having already captured 89% of the e-wallet market in the Philippines through Mynt (Global Fintech Innovations), a subsidiary of Globe Telecom.
In a job listing posted on JobStreet.com, GCash is looking for an executive who will be responsible for strategy development, planning, and budgeting for the credit card unit.
The successful candidate will also serve as the lead representative in strategic partnerships with global players such as American Express (Amex), Mastercard, and Visa.
Other key responsibilities include co-developing marketing programmes with the customer team and boosting card acquisition and usage among users.
The role is expected to open new revenue opportunities and position the credit card business as a sustainable profit generator.
GCash is seeking applicants with experience in product and account management, cost-benefit analysis, and strong organisational skills. A background in project management, change management, and prior experience in the financial sector will be considered strong assets.
The move into credit cards is part of GCash’s long-term strategy, which includes preparations for an initial public offering (IPO) that is anticipated to be the largest in Philippine capital market history.
GCash has already introduced a VISA e-wallet card and is now expanding its offerings into full credit card products, as part of its ambition to cement its status as a digital financial super-app in Southeast Asia. (DK/ZH)
https://www.idnfinancials.com/news/54232/jaza-and-jack-ma-expand-gcash-into-credit-cards