Mobile wallet war brews: Globe-Jack Ma JV launches barcode-based payment platform
The Ayala-led Globe Telecom and Chinese tycoon and Alibaba Group founder Jack Ma’s Ant Financial Services Group, rolled out a new payment option that allows cashless transactions by scanning QR codes.
The scan to pay feature of Gcash only requires merchants to scan a QR code using their phones in establishments to complete a transaction.
“Now that more people are using data on their smartphones, the time is ripe to enable digital payments using the smartphone and let this go mainstream. Our challenge today is to make digital payments the preferred choice among our customers instead of cash or credit cards,” said Globe president Ernest Cu.
Gcash president Alberto Tinio expects to double the number of its users to 10 million by next year from five million this year.
“Our biggest desire is for people to adopt or use GCash,” Tinio said.
GCash is a micropayment service which can be used to buy prepaid load, pay bills, send money, make donations, shop online and purchase goods without the need for cash.