Martha Sazon wears COS top; Urban Revivo trousers. Photo by Shaira Luna, styled by MJ Benitez, hair by Patty Inojales, makeup by Apple Fara-on
Vogue Philippines celebrates International Women’s Day through “Raising Hope,” in a call for nominations of inspiring women. At the height of the pandemic, Martha Sazon revolutionized the fintech industry as the president and CEO of one of the Philippines’ top mobile finance apps.
Nominated by Charles Joshua Alegre
At the onset of the COVID-19 pandemic, the world faced a multitude of challenges as interactions were limited to remote ones. In the Philippines, it brought financial difficulties for Filipinos, who at the time still relied on physical cash transactions to get by. It was during this time that Martha Sazon stepped up to be the president and CEO of GCash, one of the country’s top finance “super” apps.
“Under her leadership, GCash has made significant strides in its vision of providing access to financial services for all Filipinos. She has demonstrated her commitment to inclusion by creating opportunities for Filipinos, irrespective of their circumstances,” says Charles Joshua Alegre, who nominated Sazon. “Amidst the turmoil of the COVID-19 pandemic, she took charge of Mynt, GCash’s parent company–turning it into a lifeline for millions of consumers to be able to purchase necessities and send donations safely.”
Since the pandemic, GCash has become so integrated into Filipinos’ everyday lives that it has become more than a noun but also a verb when used in daily conversations. You’ll often hear, “GCash ko na lang sa’yo (I’ll GCash you).” And during the Christmas season, ninangs (godmothers) and ninongs (godfathers) can’t hide from their godchildren anymore, as they would request “Kahit i-GCash na lang po (Send it through GCash, please)” for their pamasko (Christmas cash gift). But for Sazon, its usage extends beyond the mere exchange of money. For her, it’s also a path to financial freedom.
“Financial freedom goes beyond being just able to cover living expenses from month to month. You have to be able to save and invest so that you are not living worried about the future,” Sazon says. “Through financial services (savings, investments, insurance, loans, etc.), there is a way to grow and protect your wealth. We hope to show Filipinos that this is all possible with GCash.”
She continues, “This is critical in a country that has long been financially excluded. Having access to financial services means Filipinos have access to opportunities to improve their lives and those of their families. Filipinos deserve to have that and so much more.”
Financial empowerment for women
In line with their mission to “Make Filipinos’ Everyday Lives Better,” the app has also made strides in financially empowering Filipina women. “In the Philippines, women typically manage the finances of their household (the CFO of their household—helping how they spend, save, and invest the family’s budget. GCash is making it even easier for them to just do that!” Sazon says. “Beyond the household, did you know that around 2 in 3 of GCash borrowers are women? Our loans open up additional business opportunities for women or even extend a helping hand during emergencies.”
Alegre adds: “More than half of GCash’s 81 million users are women, underlining Martha’s profound impact. Thanks to GCash, women have been empowered to manage their finances, access fair lending, initiate small businesses, and augment their savings. Through GJobs, a job portal within GCash offering remote jobs, Martha has also created opportunities for women to earn, even as they care for their families.”
At GCash, women are also being empowered to take the lead in the fintech industry. “Did you know that half of our leaders and employees are women? Someone even coined the term for us: ‘Cashless is Queen,’” Sazon says. “With this, we benefit from diverse perspectives that result in more creative solutions.”
Through this inclusivity, Sazon hopes that “success and financial independence for women will be normalized.” She says, “That is why I feel so strongly about paving the way for the next generation of women leaders. When given the opportunity, let’s be role models for the youth and provide them with visual cues that they can be anything they want to be.”
Trailblazing the fintech industry
Although the Philippines’ fintech industry has come a long way, Sazon is still fueled by the desire to do more. “At GCash, it’s all about making Filipinos’ everyday lives better,” she says. “It is this purpose that sparks the desire in us to change lives and fuels everything that we do at GCash.” Together with her “GCash barkada,” Sazon has made steps towards their vision of “Finance for All.” “Before the pandemic, the percentage of banked Filipinos was at 29%. Now, with the efforts of GCash and other fintechs, this has gone up to over 65% in just a few years,” she shares.
With her steadfast action to revolutionize the scene, Sazon’s career continues to inspire many. Alegre shares, “Martha is an inspiring figure of inclusivity as she continues to trailblaze the financial technology landscape of the Philippines. Embodying the roles of a mother, sister, leader, and ‘SheEO,’ she exemplifies that women in tech are not just viable, but can be the catalysts for transformative change.”
Visit vogue.ph everyday this month for daily features on inspiring women, as nominated by the people whose lives they’ve changed.
BY DAPHNE SAGUN. Photography: Shaira Luna. Styling: MJ Benitez. Digital Editor: Andrea Ang. Makeup: Apple Fara-on. Hair: Patty Inojales. Producers: Bianca Zaragoza and Daphne Sagun. Set design: Andrea Ang. Photography assistant: Emelito Lansangan. Styling assistants: Teresita Gabat, Jia Torrato, Chelsea Sarabia. Production assistant: Patti Co.
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