GCash partners with Mastercard for contactless payments via app
ELECTRONIC WALLET GCash has partnered with Mastercard to launch an in-app contactless payment solution.
Tap n’ Pay allows GCash app users to make contactless payments at any merchants that accept Mastercard nationwide, GCash said in a statement on Tuesday.
“Mastercard is thrilled to collaborate with GCash, powering Tap n’ Pay with NFC (Near Field Communication) technology to introduce a new avenue for contactless digital payments in the Philippines. The collaboration advances Mastercard’s commitment to providing greater choice for cardholders and enabling a more frictionless payment experience. Now, all GCash Wallet app users can simply activate Tap n’ Pay in their GCash app and pay by just tapping their phones wherever Mastercard is accepted — making transactions faster, easier, and secure,” Mastercard Philippines Country Manager Simon Javier A. Calasanz said in a statement on Tuesday.
“This collaboration further solidifies our commitment to offering Filipinos convenient and secure cashless payment solutions, making everyday transactions easier and more seamless,” G-Xchange, Inc. President and Chief Executive Officer Oscar Enrico A. Reyes, Jr. said.
G-Xchange, Inc., which operates GCash, is a wholly owned subsidiary of Globe Fintech Innovations, Inc. or Mynt.
GCash users can tap their NFC-enabled Android phones on point-of-sale (POS) terminals that accept contactless card payments. Users must have an active Internet or cellular data connection to make transactions..
Tap n’ Pay can only be used for local transactions for now, but GCash plans to make the feature available internationally soon.
The solution is backed by the GCash’s digital payment partner OpenFabric, which enables the provisioning of Mastercard’s tokens and manages the transaction gateway between GCash and Mastercard merchants. — A.M.C. Sy
