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SingaporeApril 25, 2026 /PRNewswire/ — Facing the “triple shock” of rising fuel costs, inflation, and economic turmoil, consumers in Southeast Asia are under immense pressure. Local executives from leading financial and technology companies pointed out that the role of fintech and governments is a key pillar in maintaining economic resilience as the region navigates global shocks.
Martha Sazon, the President and CEO of Mynt, the parent company of GCash, joined the CNBC CONVERGE LIVE in Jewel, Singapore, Wednesday, April 22, for the panel, “The ASEAN Consumer: Spent or Still Standing?” Alongside FWD Group CEO Huynh Thanh Phong and GoTo Group CEO Hans Patuwo, the session explored how consumer spending is evolving across the region.
Martha Sazon, President and CEO of Mynt, the parent company of the Philippines’ largest financial app GCash, discussed how the platform has strengthened its channel capabilities to become a core vehicle for distributing government relief subsidies, drawing on the current situation in the Philippines. Leveraging proven operational experience from the COVID-19 pandemic, the platform ensured the local economy functioned and relief supplies were distributed smoothly during periods of restricted mobility.
Sazon stated: “We continue to assist the government in distributing relief funds, particularly providing fuel subsidies for public transport drivers and encouraging more people to travel.”
GCash, in collaboration with the government’s transportation management department, has digitally distributed fuel subsidies to thousands of drivers and operators.
At the same time, the platform has launched consumer-friendly initiatives for the general public, offering a 50% discount on fares for major rail transit lines in the Metro Manila area, with passengers able to pay online through the GCash app.
These initiatives have ensured residents’ daily travel and stabilized the domestic consumer market. Sazon also highlighted GCash’s role in serving overseas Filipino workers. Until April 30, 2026, the platform has waived all fees for inbound and outbound transactions for Filipino nationals in the Middle East.
In addition, the platform not only continues to provide inclusive credit services but also helps local residents and returning workers expand their income sources by promoting digital micro-business tools like GCash Pera Outlet and the freelancing and employment platform GJobs, thereby building long-term economic resilience through livelihood opportunities. GCash has also stepped up financial literacy efforts, helping users master practical savings tips and launching low-barrier, highly inclusive wealth management and savings products.
Sazon shared these insights at the CNBC CONVERGE LIVE 2026 held recently at Jewel Changi Airport in Singapore. Regional industry leaders joining her on the panel included Hans Patuwo of GoTo Group and Huynh Thanh Phong of FWD Group. Patuwo analyzed the resilience of Indonesia’s economy and warned that subsidy cuts could exacerbate inflationary pressures and curb consumer spending; Phong emphasized the importance of trust, noting that insurance companies need to guide consumers toward rational decision-making to avoid financial risks from emotional choices during times of crisis.