GCash, Alipay target Chinese tourists with new payment scheme

ABS-CBN News

Posted at Apr 16 2018 08:28 PM | Updated as of Apr 16 2018 10:46 PM

MANILA - Globe Telecom's fintech arm Mynt and Ant Financial on Monday jointly launched a new QR Code solution that will allow Philippine merchants to accept local GCash payments as well as payments from Chinese tourists using Alipay in one single connection.

“By jointly establishing this QR code with Alipay, all merchants working with GCash will be able to accept Alipay as a payment option for Chinese travelers in their stores, while also catering to the local user pool that have now grown to love our cashless lifestyle app," said Anthony Thomas, president and COO of Mynt.

Aside from ease of payment for visiting Alipay users, the new scheme, which is set to roll out in the next few weeks, will give increased "footfall and revenue stream" for local merchants, Thomas said. 

Ant Financial entered into a joint venture with Globe Telecom and the country’s oldest conglomerate Ayala Corporation last year to boost Mynt operations, the joint statement said. 

Globe's cashless "scan to pay" service was launched in Makati last October 2017 with Chinese billionaire Jack Ma gracing the event.

Chinese billionaire and Alibaba Group Founder Jack Ma photographed with Ayala Corporation President and COO, Fernando Zobel de Ayala, Globe Telecomm, Mynt and Ant Financial executives in Ayala last October 2017. Jessica Fenol, ABS CBN News