Ayala-Led GCash and BPI are the Philippines' Top Finance Apps
GCash and BPI Mobile Banking are Filipinos' top choice of finance apps in the year of 2020, according to data firm App Annie.
The two apps, both of which are the tech platforms of two Ayala-led companies, garnered the most number of monthly active users from January to September, 2020, hanging on to the top spot throughout the COVID-19 pandemic.
For nine months, Globe’s GCash and BPI’s mobile banking app stayed on top on both the App Store and Google Play, as the apps are popular with Apple and Android users alike.
After GCash and BPI, the Sy family’s BDO followed in third place while PayMaya was in fourth.
Also considered some of the most popular finance apps in the country, Coin.ph, PayPal, Citi, Metrobank, UnionBank, Land Bank, and Home Credit were included in the top 10 for the nine-month time span.
Growing an average of 13 percent monthly on average, GCash also remained the number one app in terms of downloads, with the highest number of downloads from January to September on both Google Play and the App store. BPI fell in these rankings as Paymaya and Paypal took over the second place slot.
Lockdown has fast-tracked the Philippines’ cashless economy, encouraging more and more Filipinos to pay bills, send money, and invest using e-wallets to avoid going outside. Individuals and businesses were quick to adapt to fintech and e-wallets, especially as apps like GCash encourage financial inclusivity for those without bank accounts.
As it is, going cashless appears to be part of the new normal.