Globe Telecom’s mobile money service arm GCash has launched what it says is the Philippines’ first QR payment via smartphone.
The new “GoPay” feature within the GCash app allows customers to use their GCash account to pay for goods and services by scanning QR codes displayed by merchants and establishments.
For the consumers, this eliminates the hassle of bringing money, waiting for change, or getting into misunderstandings over payments. For merchants, it means they no longer need expensive machines to process mobile money transactions – they just need QRs with a unique code linked to their GCash wallet.
By making QR codes available to anyone, even to ambulant vendors and sari-sari store owners, GCash will be paving the way for a cashless society in the Philippines, said John Rubio, CEO and President of Mynt, the subsidiary of Globe Telecom that operates GCash.
“Our goal has always been to make finance more inclusive by building a cashless ecosystem. GoPay QR payments solution will close the loop and drive merchants accepting GCash payments,” Rubio said. “We plan to extend this service from all types of retailers nationwide down to our favorite fishball vendor.”
JM Aujero, Mynt’s head of merchant acquiring, added: “With GoPay QR, consumers don’t even need to bring cash when they go shopping or when they eat out. It is the best option for people who do not want to use credit cards but are either wary of having cash with them due to safety reasons or just want the convenience that mobile money offers.”
To use GoPay, a customer with an iPhone or an Android smartphone can download or update to the latest version of the GCash app, register for an account, and add funds to their GCash wallet at any GCash partner outlet. Once that’s done, the customer opens the GCash app and swipes left on the page. The GCash app will bring up the phone’s camera, at which point the customer “scans” a partner store’s QR code and enters the amount to be paid.
GoPay will be rolled out within the next few weeks at select partner stores.