GCash dominates retail e-payment landscape
GCash dominated the Philippine retail e-payment landscape in 2017 with over 4,000 QRs deployed nationwide, a testament to the growing number of merchants who believe in the capability of GCash to usher in cashless payments in the country.
A mobile wallet service offered by Mynt, a financial technology company owned by Globe Telecom, Ant Financial and Ayala Corp, GCash has been relentless in helping Filipinos get used to a cashless lifestyle and has been bullish in its vision to create an inclusive cashless environment in the Philippines. E-payments provide safety and convenience when shopping for goods and services as people need not carry around loads of cash anymore.
In August this year, GCash introduced the scan to pay feature in the GCash App that allowed customers to pay by simply scanning QR (quick response) codes of merchants.
“With the GCash scan to pay feature, we bring in technology that lowers the cost of transactions. By enabling merchants to accept payments at virtually no cost, we are actually creating convenience for the merchants and translating that benefit back to the customers and that's how it becomes more accessible for everyone” said Anthony Thomas, President and Chief Executive Officer of Mynt.
“Before, you need a POS or a reader for the cards acceptance. But today, we eliminate all that. With GCash, you can pay without cash. That’s the convenience that we bring to our customers,” he added.
To date, QR payments across different merchants all over the country have been deployed successfully, transforming the local retail scene into a cashless landscape.
More than 4,000 GCash QRs are now being accepted in various merchants nationwide, including the biggest players in the retail industry such as Ayala Malls, Robinsons Department Store, SM Malls, Megaworld Lifestyle Malls Cinema, Puregold, Ministop, and NCCC Malls.
Other merchants where customers can pay using the GCash QRs are:
*SSI Group, which carries an extensive portfolio of established international brands such as Banana Republic, Beauty Bar, Jimmy Choo, Burberry, Gap, Bally, Calvin Klein, Clinique;
*Max’s Group, the largest casual dining restaurant company in the country. It includes Max’s Restaurant, Krispy Kreme, Kabisera, Pancake House, Yellow Cab, Teriyaki Boy, Jamba Juice, Dencio’s, Sizzling Steak; and,
*Bench Group, which includes Bench, Human, Kashieca, Aldo, Charles & Keith, Cotton On, American Eagle.
Over the next few months, GCash will continue to lead the way in promoting a cashless ecosystem in the country by aggressively rolling out the use of the scan to pay feature in other locations nationwide. This is aimed at encouraging more people to use it in dayto-day shopping, dining, entertainment, and other activities.