A subsidiary of Globe Telecom Inc. has teamed up with SM Store to accept cashless payments through the use of QR scanning via smartphones to all its stores nationwide.
Anthony Thomas, president and chief executive officer of Mynt, the financial technology company owned by Globe Telecom, Ant Financial and Ayala Corp., said the company already began the rollout of the QR code acceptance .
“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 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, especially Glorietta. It also partnered with Davao’s homegrown retail chain, New City Commercial Corp., in promoting electronic payments in the country.
With the addition of The SM Store, the use of the GCash scan to pay feature continues to gain support among the top malls and merchants in the country.
Other well-known merchants currently using the 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 Mercado have also adopted the new cashless payment option.
GCash over the next few months will continue to aggressively roll out the use of the scan to pay feature in other locations nationwide to encourage more people to use it and enjoy its benefits.
Globe earlier reported a net income of P12.98 billion in the January-to-September period, up 11 percent from P11.72 billion year-on-year. Core net income, meanwhile, fell 5 percent to P11.21 billion from last year’s P11.75 billion.