GCash launches a new way to transfer money thru QR on Demand

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Who would not want a safer way of sending money online? GCash, the undisputed leader and preferred mobile wallet in the Philippines, launches QR on Demand, a new money transfer feature that allows for more security and convenience for its users, letting them send and receive money using their own personal QR.

QR on Demand’s Send via QR lets its users scan or upload another customer’s QR code, so users are assured that they’re sending money to the correct person. This also eliminates the process of having to enter a mobile number manually, making the process of sending money faster, and avoids money incorrectly sent to wrong numbers.

Receive via QR on the other hand allows customers to generate their own personal QR code that can be scanned by other users or uploaded to the app to send money to. This is even more secure since it doesn’t divulge a customer’s GCash number publicly, and doesn’t expire so other users can use the same QR code to send money multiple times. Fully verified GCash users can also assign a peso value to the code itself so that a certain amount will be auto-generated every time the code is scanned, assuring customers of exact payments for every transaction.

Sending and receiving money via QR also protects users against the pandemic, a phenomenon that continues to impair both Filipino citizens and the Philippine economy even in 2021. Just last year, GCash enabled over half a million social sellers to continue doing business transactions online using GCash.

“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,” said Martha Sazon, President and CEO of GCash. 

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

GCash has pioneered the use of QR codes for payments in the country. In 2017, it launched the GCash QR feature which allowed users to scan a merchant’s QR code and pay cashless. It worked by using the user’s smartphone camera to scan a GCash Partner Merchant’s QR code, and was deployed in major areas such as malls, and to even smaller vendor partners, such as sari-sari stores, fishball vendors, and sorbetes vendors. Learnings from this previous feature are translated and combined with its Send Money service, ensuring for a fast and seamless customer experience.

GCash is constantly pushing for the adoption of cashless payments as it supports the Bangko Sentral ng Pilipinas’ Digital Transformation Roadmap, where the agency aims to shift at least 50 percent of retail payment transactions to digital, and to have at least 70 percent of Filipinos have their own e-wallet by 2023.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc. 

GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/

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