Philippines’ digital wallet provider GCash has introduced an online shopping insurance option – underwritten by PGA Sompo – with Singapore-based Insurtech Igloo, in order to protect its growing online client base.

As mentioned in a release shared with CI, this launch and partnership come at a time when GCash has seen “a surge in online transactions and is on track to hit PHP 3 trillion in full-year gross transactions – 3x of last year’s performance.” This was “driven by Filipino consumers shifting to online for their daily needs.”

There’s now an increasing demand to “go cashless” and significantly more merchants and retailers are “opting for the convenience of e-commerce, and express peer-to-peer cash transfers.”