SINGAPORE — As ASEAN consumers face a “triple-hit” of rising fuel costs, inflation, and economic volatility, leaders from some of the region’s major financial and technology companies highlight fintech’s and government’s role to enable economic resilience in a region currently navigating global shocks.
Talking about the situation in the Philippines, Martha Sazon, president and CEO of Mynt, the parent company of GCash, shared how the platform has strengthened its role as a primary distribution channel for government relief—taking a page from its playbook on how it helped keep the local economy running and aid flowing when mobility was restricted during the COVID-19 pandemic.
“We have been helping in the distribution of government aid, especially fuel subsidies to public transport drivers and to encourage more mobility,” Sazon said. “This issue is not specific to one industry and the best way to cope with this is to work with the government.”
In partnership with the Land Transportation Franchising and Regulatory Board (LTFRB), GCash facilitates the digital disbursement fuel subsidies to thousands of drivers and operators.
This effort is complemented by direct consumer incentives, such as a 50% fare discount for passengers of the MRT-3, who can also pay via the GCash app—effectively lowering the daily cost of mobility for thousands of workers.
These interventions have kept mobility accessible and domestic consumption steady. She also pointed to the role of GCash in supporting overseas Filipino workers (OFW). Until April 30, 2026, the company is waiving inbound and outbound transaction fees for Filipinos in the Middle East.
“We’ve also helped our OFWs in remitting money. Remittance from Filipinos overseas is one the key revenue sources of the country. So we’ve helped in the money flow. Lastly, we’ve pivoted our game plan in offering livelihood to help repatriated workers in having income,” Sazon said.
Moreover, aside from keeping fair lending solutions accessible, the platform is fostering long-term resilience through livelihood opportunities by promoting digital micro-business tools like GCash Pera Outlet, and gig and employment platform GJobs, which provide alternative income streams for both local residents and repatriated workers. GCash has also ramped up financial literacy efforts with “tipid tips” to give customers practical knowledge on how to save more—while offering affordable and accessible investment and saving options.
Sazon shared these at the recent CNBC CONVERGE LIVE 2026 event at the Jewel in Singapore, joining other regional leaders: Hans Patuwo of GoTo Group and Huynh Thanh Phong of FWD Group. Patuwo noted Indonesia’s resilience but warned that looming subsidy cuts could trigger inflation and strain household consumption. Phong highlighted the importance of trust, stressing that insurers must help customers avoid emotional decisions that could leave them vulnerable during crises. The leaders also emphasized that a blend of fiscal vigilance and digital inclusion is essential for building a regional infrastructure capable of withstanding global headwinds.
