Fintech company GCash has lowered its transfer fee to P10 as of July 4, according to a report by Philstar Biz.
The reduced fee applies to GCash transfers, making digital payments more affordable for users. The move is expected to encourage more transactions through the platform, which is widely used in the Philippines for mobile money transfers, bills payment, and online purchases.
Industry observers note that lower transfer fees could intensify competition among e-wallet providers in the country, as other players may follow suit to retain users. GCash has not announced how long the reduced fee will be in effect.