Manila, Philippines — GCash, a leading financial technology company in the Philippines, has launched a new contactless payment solution powered by the company’s “Tap to Pay” feature, which uses the Near Field Communication (NFC) technology.
This allows payments to be accepted at more than 150 million Mastercard-accepting locations worldwide. This new functionality for the e-wallet was enabled through a collaboration between GCash, Alipay+, and Mastercard.
Ren-Ren Reyes, president and CEO at G-XChange Inc., shared how their goal is centred on driving financial innovation as well as creating an inclusive cashless ecosystem.
“With Tap to Pay, we’re not just modernising payments; we’re empowering Filipinos with a seamless and globally competitive solution that is locally relevant and universally accessible.”
The new feature also allows users to make payments by tapping their NFC-enabled Android phone on any Mastercard-accepting point-of-sale terminal. The company also stated that this expands on its existing QR code payment system, which is accepted in more than 50 global destinations.
“GCash is a pioneer in driving digital payments, and now one of our first partners to enable Alipay+ NFC global payment capability,” said Douglas Feagin, president of Ant International.
He added, “Alipay+’s collaboration with Mastercard is redefining a new future of global payments, enabling Alipay+ partner wallets to be accepted at Mastercard NFC merchants around the world. We believe that greater interoperability between e-wallet and card systems is a trend of the future.”
The company also shared that the new system includes robust security features, with authentication protocols and data encryption to protect against fraud.
