GCash Users Can Now Use Linked Visa Cards for QR Payments
GCash users in the Philippines will soon be able to use their linked Visa cards for QR payments, even if they don't have sufficient funds in their e-wallets. This new feature, set to launch this month, eliminates the need for users to top up before making purchases. The link-and-pay capability allows eligible Visa cards to serve as the funding source for QR transactions made through the GCash app.
According to Visa Philippines Country Manager Jeffrey Navarro, 'This exciting collaboration expands that flexibility for consumers, allowing consumers to use their Visa credentials across everyday digital payment journeys including QR payments.'
The new feature uses Visa Payment Passkey to authenticate transactions, which allows consumers to verify purchases using their device's fingerprint, facial recognition, or PIN instead of passwords or SMS one-time passcodes (OTPs). Visa claims that biometric authentication could reduce fraud rates by as much as 50 percent compared with SMS-based OTPs.
The partnership between GCash and Visa aims to further support the shift towards digital payments and expand financial inclusion in the Philippines. G-Xchange Inc. President and CEO Ren-Ren Reyes said, '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.'