GCash extends scan-to-pay services to more countries --[Reported by Umva mag]

ELECTRONIC WALLET giant GCash is expanding its scan-to-pay services and other cross-border mobile payment and digitalization solutions to more countries.

“We want to make sure every Filipino can maximize their GCash account wherever they are across the world,”  GCash said in a media release on Monday.

“We are glad to strengthen our long-standing partnership with Alipay+ and expand GCash’s capabilities and services to more destinations in Asia and all over the globe,” it added.

GCash users can now make cashless transactions through its expanded partnership with Alipay+, a cross-border mobile payment and digitalization solution operated by Ant International.

With the expanded partnership, users can utilize its scan-to-pay feature in China, Hong Kong, Macau, Thailand, and the United Arab Emirates (UAE), bringing the total markets to 45, GCash said.

GCash’s scan-to-pay features allow transactions with no service fee and low foreign exchange rates, it said.

GCash expects to exceed the valuation of its parent company Globe Telecom, Inc.

G-Xchange, Inc., which operates GCash, is a wholly owned subsidiary of Globe Fintech Innovations, Inc. (Mynt).

In July, Mynt secured fresh investments from Ayala Corp. and Japan’s Mitsubishi UFJ Financial Group, more than doubling its valuation to $5 billion from $2 billion in the 2021 funding round.

The company is also considering listing overseas while it is taking a “wait-and-see” stance on its initial public offering locally. — Ashley Erika O. Jose

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