Globe Fintech Innovations, Inc, (Mynt) and Ant Financial Services Group (“Ant Financial” or “Ant”) announced a new QR code solution, which will enable local merchants to accept payment from both local users (using GCash) and Chinese visitors (using Alipay) via a connection to GCash QR Code solution.
The service will be rolled out over the next few weeks across GCash’s merchant network.
Under this partnership, Ant Financial will partner with Mynt for merchant acquiring activities for Alipay across the Philippines.
“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. We are hopeful that our merchants can benefit from the increased footfall and revenue stream brought by the increasing number of Chinese tourists coming to the country,” said Anthony Thomas, President and Chief Executive Officer of Mynt.
About 94% of Chinese tourists expect they will utilize mobile payment methods when traveling, bringing their cashless lifestyle overseas, a 2017 survey conducted by research firm Nielsen showed. A record-breaking number of Chinese tourists were seen visiting Philippines in the month of February this year, according to the Department of Tourism (DoT).