GCASH users will soon be able to use linked Visa cards to make QR payments even without sufficient funds in their e-wallet, eliminating the need to top up before making purchases.
The new link-and-pay feature, which will be available starting this month, will allow eligible Visa cards to serve as the funding source for QR transactions made through the GCash app.
Previously, users who did not have enough funds in their GCash wallets needed to top up through linked bank accounts or transfer funds from other banks before completing a purchase.
With the new feature, consumers can use linked Visa cards to make QR payments at checkout, giving them another way to pay without having to move money into their GCash wallet.
“This exciting collaboration expands that flexibility for consumers, allowing consumers to use their Visa credentials across everyday digital payment journeys including QR payments,” Visa Philippines Country Manager Jeffrey Navarro said.
Visa and GCash said the card-funded QR payment capability would further support the shift toward digital payments.
It can be used for everyday purchases, including restaurant meals at restaurants, market purchases and shopping in tourist destinations, wherever GCash is accepted.
The new payment capability will also use Visa Payment Passkey to authenticate transactions. Visa said the system allows consumers to verify purchases using their device’s fingerprint, facial recognition or PIN instead of passwords or SMS one-time passcodes (OTPs).
Visa said its data showed that biometric authentication could reduce fraud rates by as much as 50 percent compared with SMS-based OTPs.
“This new feature further enhances the GCash experience for millions of Filipinos, giving them greater freedom in how they pay and manage their funds while maintaining the experience they’ve come to expect from GCash,” G-Xchange Inc. President and CEO Ren-Ren Reyes said.
G-Xchange operates the GCash mobile wallet and is a wholly owned subsidiary of Mynt, which operates the GCash platform.
Reyes said the partnership with Visa also supports the companies’ efforts to expand financial inclusion and bring more Filipinos into the digital economy.
