MANILA, Philippines – Ayala-led Globe Telecom has begun its rollout of new digital financial projects following its partnership with Jack Ma's Ant Financial.
Mynt, Globe's digital payments arm, announced over the weekend the launch of the Philippines' first QR payment system via smartphone.
Called GoPay, the new feature within Globe's GCash app allows customers to use their GCash account to pay for goods and services by simply scanning QR codes displayed by merchants and establishments.
For consumers, this eliminates the need to have cash on hand. Merchants, meanwhile, no longer need to buy machines to process mobile money transactions, requiring only QRs with a unique code that is linked to their GCash wallet.
The service was popularized by Ant Financial's Alipay in China. Globe said the service will begin to be rolled out within the next few weeks at select partner stores.
The telco plans to make the service widely available, expanding even to sari-sari store owners so as to get communities comfortable with cashless transactions.
"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. We plan to extend this service from all types of retailers nationwide down to our favorite fishball vendor," said Mynt president and chief executive officer John Rubio in a statement on Saturday, August 5.
To use GoPay, an iPhone or an Android user needs to download or update to the latest version of the GCash app, register for an account, and fund a GCash wallet through any of the more than 12,000 GCash Partner Outlets nationwide.
A swipe left within the GCash app brings up the phone's camera which allows customers to scan a partner store's QR code and bring up payment details.
Earlier this year, Globe also partnered with the Makati city government and iBayad to develop the Makatizen card. The card also uses the GCash platform to allow Makati City residents and government employees to pay for services and receive their salaries. – Rappler.com