Philippine Financial System Quiz

GCash can be used to buy prepaid load, pay bills, send money, make donations, shop online, and even purchase goods without the need for any

In July 2021, just seven months after its popularity took off. That month, the central bank of the Philippines ordered Lyka to suspend all transactions, saying the company wasn’t properly licensed as a

Over 4.5 million people had downloaded Lyka, according to figures shared by Data.ai, and tens of thousands of merchants — including international brands like Ford and Guess — were accepting Lyka tokens when the app stopped

GCash is an internationally acclaimed micropayment service that transforms the mobile phone into a virtual wallet for secure, fast, and convenient money

The result: Active users were left with stores of worthless in-app