Freelancers and digital nomads can now cash in their earnings sent via multinational online payment provider PayPal through GCash after the financial technology players inked a partnership.
This collaboration is expected to make fund transfers easier and more convenient for freelancers who usually work remotely for clients abroad.
“We at GCash recognize the vital role of PayPal among remote Filipino workers, freelancers and digital nomads. GCash will continue to be the best way to convert your funds from PayPal seamlessly,” said Oscar Reyes Jr., president and CEO of GCash operator G-Xchange.
There are about 4 million freelancers in the country, according to data from the Department of Information and Communications Technology.
Majority or about 59 percent of the respondents identified themselves as virtual assistants, a kind of freelancer with multiple skills, such as in data entry, social media, website update and video editing.
About 43 percent of the respondents claimed to have skills in social media marketing; data entry and transcription, 36.51 percent; and content creation, 34.48 percent.
According to a study by financial service company Payoneer, Filipinos are participating in the gig economy due to the flexibility of remote work setup and better earning potential should they choose to juggle multiple jobs.
GCash is now up and running in the United States, Canada, the United Kingdom (UK), Australia, Italy, Japan, Germany, Spain, the United Arab Emirates (UAE), Qatar, Hong Kong, Taiwan and Korea.
It announced the platform would be available in Saudi Arabia, Kuwait and Singapore by April.
GCash is also available as a payment platform for select merchants in several countries, including Japan, South Korea, Singapore, Malaysia, Hong Kong, Macau, Qatar, UAE, US, France, Italy, Germany, Switzerland and UK.
To sign up, users abroad can use their international mobile numbers and Philippine passport or other Philippine valid ID as proof of identity. The fully verified accounts will allow them to send money for free via the app. Users can also pay bills and buy load credits, among others.
