Globe GCash Mastercard, a prepaid and reloadable ATM card which drives the mobile money revolution in the Philippines, was named Bronze Stevie® winner in the 12th Annual International Business Awards for Best New Consumer Product or Service, a press release from the firm said yesterday.

The product has received a string of positive feedback from the judges such as “good product considering the situation in Philippines”, “innovative revolution”, “bespoke for certain countries where bank accounts and credit cards are not easily available”, “how cool to have a MasterCard without the complicated procedure of having a bank account and money amount limitation”, “good performance achieved,” among others, the press release said.

Unlike traditional debit cards, GCash MasterCard does not require users to have a bank account nor maintain a minimum balance, it said.

Customers may fund their cards by going to any of the over 10,000 GCash outlets nationwide or by linking their online bank accounts. The GCash MasterCard also serves as an extension of a customer's mobile wallet in which they could also use their cell phone number to do mobile money transactions like bills payment, sending money, buying airtime load, among others, the press release added.

“This award is a solid validation that the service has become a driving force in growing mobile money penetration in the country. This recognition motivates us to think of more ways to help our fellow Filipinos enjoy a cashless spending lifestyle even if they cannot afford to open a bank account due to stringent application requirements,” said Xavier Marzan, president and CEO of G-Xchange, Inc., a wholly-owned subsidiary of Globe Telecom, which operates GCash.

“We believe that this service will continue to evolve as the Philippines makes a paradigm shift to cashless ecosystem driven by mobile payments,” Marzan added.*

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