Philippine-based GCash has introduced a cutting-edge contactless payment solution, enhancing security and convenience for businesses across the globe.

Utilizing Near Field Communications (NFC) technology, this Tap to Pay feature allows payments via electronic wallets at over 150 million Mastercard-enabled locations worldwide, thanks to the partnership between Mastercard and Alipay+.

Details of the Partnership

GCash Tap to Pay empowers Filipinos to conduct simpler daily transactions both locally and internationally. This strategic alliance with Alipay+ and Mastercard complements existing QR code payment methods in more than 50 regions, thereby broadening global acceptance for GCash through either scan or tap.

The initiative is part of GCash’s strategy to modernize its solutions, support financial growth, and create a cashless ecosystem accessible both locally and universally. Ant International sees GCash as pivotal in driving digital payments within the country, recognizing it as one of its initial partners for enabling Alipay+ NFC capabilities.

Security measures are integrated into this initiative, with stringent authentication protocols and data encryption ensuring that each transaction is protected from fraudulent activities, providing a safe and smooth payment experience.

GCash’s Recent Developments

In line with these advancements, GCash has decided to split its stocks in preparation for potential Initial Public Offering (IPO) plans. Globe Fintech Innovations, the parent company of GCash, adjusted the par value of common shares from 1 peso to 0.03 pesos and increased the authorized number of common shares from 2.15 billion to 71.7 billion.

Additionally, GCash has been engaging in multiple partnership initiatives recently, collaborating with key institutions such as the Philippine Statistics Authority and Cebuana Lhuillier Bank to support their respective product launches.