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February 22, 2021

GCash enables mobile wallet users to use personal QR codes for transactions

GCash has enabled its mobile wallet users to use their personal QR codes to send and receive money, thereby removing the need to type or enter mobile numbers on the app.

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With the use of QR on Demand’s Send via QR, users will be able to scan or upload other members’ QR codes. This  enables users to be assured that they are sending money to the right person.

Due to the new feature, users need not manually type mobile numbers.

Users can generate QR code through the “Receive via QR” feature.

Users transferring money also need not reveal their GCash numbers when using QR codes.

GCash president and CEO Martha Sazon said: “GCash continues to innovate for better means of transferring money and better customer experience, while at the same time keeping Filipinos safer and more secure in this highly digital world.”

Sazon added: “Aside from money transfers, the new QR on Demand feature can also be used by enterprising citizens in conducting informal businesses.”

Users who are completely verified can also assign a particular value to the QR code so that the amount gets auto-generated each time the code is scanned.

The Bangko Sentral ng Pilipinas has been pressing for online money transfers, particularly during the Covid-19 pandemic to reduce the risk of contracting the disease while handling money and stepping out to make payments.

In 2020, GCash allowed more than half a million social sellers to carry out business transactions online via the mobile wallet.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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