Globe GCash Mastercard, a prepaid and reloadable ATM card which drives mobile money revolution in the Philippines, was named Bronze Stevie winner in the 12th Annual International Business Awards for Best New Consumer Product or Service.
The product has received a string of positive feedback from the judges such as “good product considering the situation in Philippines”, “innovative revolution”, “bespoke for certain countries where bank accounts and credit cards are not easily available”, “how cool to have a MasterCard without the complicated procedure of having a bank account and money amount limitation”, “good performance achieved,” among others.
Unlike traditional debit cards, GCash MasterCard does not require users to have a bank account nor maintain a minimum balance. Customers may fund their cards by going to any of the over 10,000 GCash outlets nationwide or by linking their online bank accounts. Likewise, GCash MasterCard serves as an extension of a customer’s mobile wallet in which they could also use their cell phone number to do mobile money transactions like bills payment, sending money, buying airtime load, among others.
“This award is a solid validation that the service has become a driving force in growing mobile money penetration in the country. This recognition motivates us to think of more ways to help our fellow Filipinos enjoy a cashless spending lifestyle even if they cannot afford to open a bank account due to stringent application requirements. We believe that this service will continue to evolve as the Philippines makes a paradigm shift to cashless ecosystem driven by mobile payments,” said Xavier Marzan, President and CEO of G-Xchange, Inc., a wholly-owned subsidiary of Globe Telecom, which operates GCash.
More than 3,700 nominations from over 60 nation’s organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories, including Company of the Year, Marketing Campaign of the Year, Best New Product or Service of the Year, Startup of the Year, Corporate Social Responsibility Program of the Year, and Executive of the Year, among others.
Stevie Award winners were determined by the average scores of more than 200 executives worldwide who participated in the judging process from May through early August.
“The IBAs grow in stature and renown every year, and with that the number and quality of entries increases,” said Michael Gallagher, president and founder of the Stevie Awards. “This year’s judges were treated to alot of success stories and achievement around the world. We thank the judges for their time and feedback, and we congratulate the Gold, Silver and Bronze Stevie winners whom we’ll celebrate in Toronto in October.”
The International Business Awards is one of the world’s premier business awards program. All individuals and organizations worldwide – public and private, for-profit and non-profit, large and small – are eligible to submit nominations. The 2015 IBAs received entries from more than 60 nations and territories. Nicknamed the Stevies for the Greek word “crowned,” the awards will be presented to winners at a gala awards banquet at the Ritz-Carlton Hotel in Toronto, Canada on October 23, 2015.