SM Stores enable GCash payments

MANILA, Philippines — Mobile wallet service GCash continued its aggressive rollout of Quick Response (QR) payments through its partnership with SM to make the payment method available at all SM Stores in the country.

Anthony Thomas, president and chief executive officer of Mynt, the financial technology company owned by Globe Telecom Inc., Ant Financial and Ayala Corp., said QR code acceptance has started at SM Stores.

“We’re not installing a device but just a sticker with a QR code. The customer simply scans that sticker so no need for additional machines for transactions and there’s no cost to the machine but more benefits to the merchants. Cash is still convenient but there’s also the issue of security and handling. With GCash scan to pay feature, we’re bringing that down to the level where merchants can adapt,” Thomas said.

The partnership is expected to make it more convenient for shoppers to make purchases.

Customers can make use of the QR payments by downloading the GCash app or updating to the latest version of the app on their smartphone.

After downloading the app, creating an account and funding the GCash wallet, the customer will just need to scan the item’s QR code to pay.

The SM Store is the latest addition in a growing list of merchants which have embraced the GCash app scan to pay feature.

Among the early adopters are Mercato Central in Bonifacio Global City and Ayala Malls, particularly Glorietta.

Other well-known merchants currently using the scan to pay feature are the Max’s Group of restaurants, apparel brand Bench, and international brands special retailer Stores Specialists Inc.

Smaller sellers located at celebrity bazaar destination Noel Bazaar and in Mercato have also adopted the cashless payment option.

Globe president and chief executive officer Ernest Cu said the plan is to continue rolling out the QR payments in more retail establishments in the country.

“Consumers can expect this partnership to launch more partnerships because I think the profile of SM in this country is very high. If SM accepts us, then this should be acceptable to most other established retailers in the Philippines,” he said.

He said there are also plans to make the GCash QR payments available in the transport sector.