The digital economy is rapidly expanding in Southeast Asia, and GCash is at the forefront of this transformation, aiming to bring more Filipinos into the digital economy. According to the Philippine Statistics Authority, the digital economy contributed P2.74 trillion to the country's GDP in 2025, accounting for nearly 10% of the total. This growth presents an opportunity to reach people who may have previously been left out of the formal financial system. However, it also raises questions about the costs of keeping these services accessible.
In a recent panel discussion at the ASEAN Tech Summit, leaders from GCash, Maya Bank, Tala Philippines, and ATIN (Alliance of Tech Innovators for the Nation) discussed the challenges and opportunities of financial inclusion. Barbie Rodriguez-Dapul, COO and general manager for consumer business at G-Xchange, emphasized the importance of digital payments in enabling investments in innovation and infrastructure to provide quality services to customers.
While it may seem like a simple process to move money from one account to another, the reality is that it requires significant investment in systems that make those transactions possible. This becomes even more apparent when considering the diverse starting points of people entering the digital economy across Southeast Asia. Access to identification, familiarity with digital tools, and the ease of opening an account can vary widely.
For example, a Filipino in a grassroots community may have a smartphone and internet connection, but still face challenges in proving their identity or completing the requirements needed to open an account. To address these barriers, GCash has integrated with the PSA to make identity verification easier through the national ID system, and has implemented KYC-on-the-Go programs to assist people in completing the onboarding process in grassroots communities.
According to Rodriguez-Dapul, financial inclusion is not just about affordability, but also about designing services that are relevant to those who are traditionally excluded. This has led GCash to focus on the barriers people encounter before making their first transaction, and to prioritize the ease of onboarding.
As ASEAN moves toward a more integrated digital economy, financial inclusion becomes less of a standalone goal and more of a foundation for everything else the region hopes to achieve. The broader the participation, and the more technology is designed around the realities of the people it serves, the stronger the digital economy it can build. This perspective highlights the importance of understanding the diverse needs and challenges of different communities, and the need for innovative solutions that can address these issues effectively.
