Globe Telecom's GCash has launched the Philippines' first QR code payment service, which it has named GoPay.
The GoPay feature within the GCash mobile money app will allow customers to use their GCash account to pay for goods and services using their smartphones by scanning QR codes displayed by merchants.
The service will enable merchants to accept mobile payments using their own GCash wallets, eliminating the need for eftpos machines. GCash said this will make mobile payment acceptance available even to roaming vendors and small neighborhood stores.
Alibaba's Ant Financial, which popularized QR code payments in China via its Alipay subsidiary, invested in GCash's immediate parent company Mynt in February to help develop the Philippines' digital money market.
“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,” Mynt CEO and President John Rubio said.
“We plan to extend this service from all types of retailers nationwide down to our favorite fishball vendor.”
GCash is available for both Android and iOS, and users can deposit funds into their GCash wallet at over 12,000 partner outlets across the Philippines.