Reducing Transaction Costs to Extend Access: New Technology (G-Cash Presentation)
This presentation describes a new technology called G-Cash that extends financial access in the Philippines. G-Cash provides the target market with convenient wireless funds transfer, cash withdrawal and payments through accessible and widely used distribution networks and channels.
G-Cash can be used to make cash-less and card-less micropayments over a mobile phone. Its features include:
- One-time and SMS-based registration;
- Self-assigned PIN and recipients' mobile number for transactions;
- Phone-to-phone transactions that are fast and cheap;
- PIN-locking process to ensure security.
The presentation outlines G-Cash processes for agent accreditation, subscriber registration, customer cash-in and cash-out. It also provides details of G-Cash's anti-money laundering features and its business development initiatives. Finally, it describes a pilot test on microfinance with four rural banks in the country and G-Cash's benefits for banks and borrowers.