iCASH x eTap: Conveniently send your love anytime, anywhere

McKinsey & Company (2023) revealed that 44% of the Filipino population remains unbanked—significantly higher than neighboring Thailand's 4.5%. This disparity underscores the urgency for accessible financial services in the Philippines, where traditional banking solutions often remain out of reach for many. The demand for secure and convenient financial options has driven a boom in financial technology (fintech), which seeks to address the needs of millions of unbanked Filipinos, including overseas workers and their families, who rely on efficient ways to send and receive money.

On October 29, 2024, iCASH and eTap entered a partnership aimed at providing accessible cash in services for the iCASH e-wallet. The signing ceremony, held in Makati City, marks a pivotal milestone in the journey toward financial inclusivity. This partnership is set to simplify financial transactions for Filipino families, especially those relying on remittances from overseas Filipino workers (OFWs).

The event was graced by the presence of iCASH President and CEO Maria Rodora Banares, Senior Executive Vice President and COO Maria Cristina Castillejo, Assistant Vice President and Head of Service Operations Ritchie Aguila; eTap CEO Percy Hernandez, President Marlon Portugal, COO Jana Cruzado, CSO Juan Miguel Hernandez, and eTap Solutions CEO and President Carlo Hernandez were similarly present at the momentous event.

Simplified cash ins with eTap kiosks

iCASH is designed specifically with Filipinos in mind, particularly those working abroad, to facilitate secure remittances back home. By expanding cash in points through eTap, the platform offers an efficient solution that meets the unique needs of OFWs and their families.

Through this partnership, iCASH users can now reload their e-wallets more easily at eTap kiosks, which are conveniently located in various partner stores nationwide. This accessibility aligns with eTap’s mission to promote financial inclusivity, particularly among Filipinos who are unable to open bank accounts.

These kiosks reduce the dependency on traditional banks or remittance centers, offering an easy, secure way to cash in without the hassle of long lines.

A brighter financial future

With 44% of the population still unbanked, iCASH and eTap’s partnership brings the country closer to realizing a brighter financial future for all Filipinos. Financial inclusivity should be a basic right, enabling everyone to manage their finances and engage in digital transactions seamlessly.

As more Filipinos embrace the shift to digital finance, ventures like this push the fintech industry forward, closing the gap for the unbanked population and offering hope for an empowered financial future.

Stay updated with the latest developments and services from iCASH and eTap by following their official channels. The journey to financial inclusion has only just begun, and iCASH and eTap are committed to making sure every Filipino has the tools to secure a better financial tomorrow.

Written by Aira Matsushita (Copywriter)

Thumbnail by Brennan Cahilig (Multimedia Designer)

Photos from Aldous Acosta (Multimedia Artist)