economies. In China, for example, mobile digital payments account for over half of the country’s
total transaction volumes.
In the Philippines, the use of the said technology is still in its nascent stage, and has yet to see
an explosion in usage today.
Despite this GCash, operated by Globe Fintech Innovations Inc. (Mynt), sees the value of
setting up as many QR-enabled merchants as possible, as it believes that the future of mobile
digital payments lies on innovative technologies.
“QR payments provide security and convenience to both merchants and their customers. Our
thrust as a mobile wallet is to acquire as many merchant partners as possible — even micro-entrepreneurs such as taho vendors — to future-proof us from the expected boom in usage,”
said JM Aujero, Vice President for Merchant Solutions.
Already, GCash has breached the 50,000 merchant mark in the first quarter of 2019, a huge
milestone for the company that introduced this technology first in the Philippines in 2017.
“We want to be as pervasive as our partner Ant Financial in China. QR is the future of
payments, and we are committed to lead in this arena here in the Philippines,” he said.
The QR technology of GCash is far reaching, spanning from Luzon to Visayas and down to
Mindanao, including popular tourist destination Boracay.
This particular technology is empowering micro, small, and medium enterprises (MSMEs) to
adopt into the digital arena. Aside from giving them access to millions of customers, the QR
payments solution of GCash allows merchants to enjoy auto-sweeping of their daily transactions
into their account.
It likewise provides a better performance evaluation of the business, as the system provides for
QR transaction reports, which allows enterprises to study and analyze their transactions real
time. Cash handling issues are also addressed through the QR payments system.
GCash offers merchants no set up fees, a huge customer base, lower rates than most debit and
credit cards, a chance for increased marketing, and access to periodic reports to oversee their
business performance.
“Merchants and social sellers can leverage on the ubiquity of GCash in the Philippines, as well
as benefit from this simple, cost-effective, and secure alternative to cash,” he said.
GCash is embarking on a battle against cash to capture more users this year, and the need to
increase the number of merchants in the GCash platform only continues to be more
pronounced.
The GCash QR payments solution, he explained, is supportive of the Bangko Sentral ng
Pilipinas’ goal of reducing cash payments and increasing the share of non-cash transactions to
20 percent of the total volume by 2020.
“Our aggressive stance in fighting for more QR-enabled merchants stems from the fact that
everyday, more and more GCash users onboard the platform. Use cases for QR payments also
continue to sprout,” he said.
“With Ant Financial as our partner, we are well-equipped to deliver the best QR experience in
the Philippines. Ant Financial will also help us in strengthening our hold while massively scaling
up our QR reach in the country,” he said.
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