Fintech solutions, gov't collaboration help cushion impact of oil crisis to consumers, says Mynt CEO

SINGAPORE, April 24, 2026 /PRNewswire/ -- As consumers in Southeast Asia 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 navigating global shocks.

Talking about the situation in the Philippines, Martha Sazon, President and CEO of Mynt, the parent company of the country's biggest finance app 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.

In partnership with transport officials from the government, 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 Metro Manila main rail lines, who can also pay via the GCash app.

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.

Moreover, aside from keeping fair loans 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 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.

SOURCE GCash