Best E-wallets in the Philippines

Your phone is now a wallet and a bank. Why we are embracing this new invention of generation? In years past almost all financial institutions launched their e-wallet applications together with remittances, banks, lenders, and pawnshops. This was started when the Gcash and Maya Bank Inc. in the country were more convenient to use than regular wallets. These two E-wallets give significant changes to the financial life of each user. This list will guide you to what fintech you want to use for your financial and banking needs.

If you are asking yourself, "Which e-wallets are the best for payment?" The following apps will give you a convenient and hassle-free transaction to your biller. No missing out on your bill or stressing over the longest line in a branch of the biller. These apps are not just good for payments, loans, and savings, but they also have unique services for each other.

Here are the lists of E-wallets and Banks that can give you a more convenient way in terms of managing your finances:

1. Gcash

This E-wallet was started as Globe Pera Padala as an SMS-based money transfer in October 2004 after a year of unsuccessful remittance centers where Smart Padala is the number one Remittance Center in the Philippines at that time. Gcash built and launched its Gcash E-wallet for the first time in 2012 to divert service into a cashless financial transaction.

Now Gcash is the leading Financial Application in the Philippines with over 94 Million Filipino users from different parts of the world. They have almost 6M merchants Gcash users in the Philippines from online to physical store.

This huge number of users is an actual testament to being the widely used and convenient way to use application. This E-wallet helps Filipinos manage their finances more conveniently and provides financial services from remittances, payment solutions, e-commerce malls, top-up services, microloans, business loans, investments, savings, cryptocurrency, insurance, subscription, casinos, bank transfers and other banking essentials services.

Gcash continues to accelerate its growth and expand its services because of its multiplayer financial institutions within the application such as loan providers, payment solutions partners, stocks and investment partnerships, insurance issuers and Savings from different Banks. These institutions help to expand the potential of Gcash to become the leading Fintech App in the Philippines.

Gcash has 50+ Million downloads in the Google Play Store alone with almost 2 Million reviews as of October 2014 leading to the Top Free Finance App.

Gcash is not just a wallet, it's more as money storage. Try to download it now.

Create your Gcash Account today!

2. Maya Bank Inc. (Formerly Paymaya)

Maya Bank Inc. converted its status as a Bank on May 2, 2022. This company launched in December 2000 as Smart Money Padala commonly known as Smart Padala which was the leading remittance in the Philippines during that time. Their remittances can done using SMS-based only which the recipient of money can claim from any sari-sari stores offered Maya Center services by presenting a reference number only.

Smart Money was successfully rebranded to Paymaya in January 2016 which led to an increase in the number of users. Maya claimed to be the pioneer of neo bank in the Philippines and also the number 1 Digital Bank in the country in terms of Users.

Being a Bank itself and self-provided financial services that have a limited number of partners Maya Banks is number two behind Gcash. Money in Maya was secured because it was a Bank, PDIC insured your savings up to 500,000 which is different from Gcash.

Maya Bank Inc. has almost 10+ Million Download in the Google Play store with 1 Million reviews leading to the top 2 in Free Financial Apps.

Similar to Gcash, Maya also is a wallet in which you can keep your money within the app. If you want to save money for you to earn money interest just open savings account within an app. They have time deposits and regular savings. The money in a wallet will not gain interest unless you transfer it to a savings account. Maya also provides different banking services such as remittances, bank transfers, investments, insurance, microloans, personal loans, business loans and stocks. They have casino partners, top-up services, bill payments and e-commerce malls. On their rebranding to Maya, they offer crypto holding and trading services in which you can able to accept cryptocurrency from other wallets, buy, sell, and trade within the app.

Maya is like a combination of Gcash and Coins.ph in terms of services. If you like to use it for your financial needs just try to download it now.

Create your Maya Account today!

3. Coins.Ph

Why Coins.Ph is the top 3 in the list? Same with Maya Coins.ph has over 10+ Million downloads in the Google Play Store but their reviewers are significantly low with just 118,000.

Coins.ph was launched in January 2014 with over 16+ Million users as of October 2024. They claimed the first-ever crypto-based company in Asia to hold both Virtual Currency and Electronic Money issuers.

Coins.ph is not just an e-wallet and a trading crypto platform, it also offers top-up services, bill payments, holding crypto, tradings, saving crypto with interest, casinos, remittances and bank transfers. You can able to transact, send and receive payments from virtual currency to fiat currency worldwide which seems more convenient to use for freelancers and traders.

They have their crypto token so-called PHPC whose values are the same as the Philippines Peso. This stablecoin are same with USDT for US dollar. This is the first ever crypto token of the Philippines launched by the Philippines-based company.

If you want to hold, trade, and save crypto just try Coins.ph as the most trusted crypto issuer in the country.

Create your Coins.ph Account and start trading crypto

4. GoTYME BANK

GoTyme Bank is a digital bank of Gokongwei Group and Tyme Group. Tyme group is a South African-based fintech with over 5 million customers in South Africa and 12+ Million customers with the combination of Philippines Users.

This multi-country digital bank aims to help Filipinos with their financial needs, and banking needs 24/7 and more conveniently than regular banks. GoTyme offers 3x Go Rewards Points which is the first ever digital bank with Reward points when you shop at their partner merchants and Malls such as Robinson Mall, and South Star Drug. You can redeem your points as good as cash. They also give free for your first Debit Card that you can use to withdraw cash, and payments in-store and Online.

Their Financial Services gained more trust in Filipinos because of their reward card and debit card at the same time. It is very convenient for users to own a GoTyme Bank account.

If you think this is best for your financial needs try GoTyme Bank now.

Create your GoTyme Account today!

5. Shopeepay (Shopee App)

Shopee is the leading E-commerce platform in Southeast Asia with over 100+ Million Downloads in the Google Play Store and 3+ Million reviews. Shopee launched in Singapore on the year 2015 and expanded to other Southeast Asia nations including the Philippines. Seamoney is a mother company of Seamoney Finance Philippines Inc. and is part of Sea Group aims to give financial services to Southeast Asia using Digital platforms including Shopeepay, Spaylater, Sloan, Seabank, Maribank and others.

In Shopee Philippines, SeaMoney offers Shopeepay as an in-app E-wallet service where you can use funds to finance your orders in the app or to other physical stores. Because of the widely used Shopeepay from online and physical store payment channels, it is now the leading B2C platform in the Philippines. Shopeepay offers top-up services, bill payment and bank transfer services. Shopee through SeaMoney Finance Philippines Inc. offers Spaylater services which you can loan to pay your purchases in the app or a physical store, Shopee also offers personal loans via Sloan inside the app where you can avail of cash loan installments.

Shopee is not just simple E-commerce because they also offer savings that can earn interest via Seabank, bill payment service, top-up and app coins which you can use to decrease your bills for a discount.

Shopee finance offers give convenient service to Filipinos and become the most prepared E-commerce platform in the Philippines.

If you think Shopee is best for your financial needs try to download it now.

Install Shopee App now!

Other related Articles:

•How to Increase your Maya Easy Credit Limits?

•Your Guide to Change Mobile Number in Diskartech App

•Sloan and SPayLater Users Review and Guide

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