Philippine-based GCash has launched a next-gen contactless solution, offering security, convenience, and global reach for businesses.
Powered by Near Field Communications (NFC) technology, the Tap to Pay solution enables payments through ewallets at over 150 million Mastercard acceptance locations worldwide, thanks to the collaboration between Mastercard and Alipay+.
More about the alliance
GCash Tap to Pay now helps Filipinos make simpler everyday transactions, both locally and internationally, through a strategic collaboration with Alipay+ and Mastercard. The solution complements the current QR code payment options in more than 50 geographies, expanding global acceptance of GCash via scan or tap. The company aims to drive financial developments and contribute to an inclusive, cashless ecosystem by modernising its solutions and supporting Filipinos with a simple product that is locally and universally accessible.
Ant International believes that GCash is key to driving digital payments in the country, being one of its first partners to enable the Alipay+ NFC global payment capability. The collaboration between Alipay+ and Mastercard enables Alipay+ partner wallets to be accepted at Mastercard NFC merchants, creating greater interoperability between ewallet and card systems.
Security is key to this initiative, with authentication protocols and data encryption in check, ensuring that every payment is safeguarded from fraud for a safe and simple experience for every purchase.
The move follows GCash’s decision to split stocks and increase the number of its common shares amidst IPO plans. Globe Fintech Innovations, GCash’s parent company, reduced the par value of its common shares to 0.03 peso per share, from 1 peso, and increased the number of authorised common shares to 71.7 billion from 2.15 billion.
Additionally, in the last couple of months, GCash announced multiple partnerships and launches, aiming to accelerate its development process in the market. It collaborated with the Philippine Statistics Authority and with Cebuana Lhuillier Bank, helping the institutions with their product launches.
