The first GCash-Alipay QR-based mobile payment technology is now available in the Philippines through a partnership between Mynt, a financial technology company owned by Globe Telecom, Ant Financial, and Ayala Corporation, and The Islands Group, which operates the highly-popular Island Souvenir stores nationwide.
This enables all Island Souvenir stores to finally accept QR payments from local GCash users as well as foreign tourists who are Alipay users.
“The GCash-Alipay QR will enable local merchants like Island Souvenirs to service an even bigger pool of customers with seamless payment experiences. This provides real convenience and security to all shoppers and tourists. For instance, with the GCash-Alipay scan to pay feature at all Islands Souvenirs stores, customers can easily pay the exact amount for their purchases using their phone. They no longer have to wait for loose change or pay in smaller denominations, or even stand in line for a long time,” said Anthony Thomas, President and CEO of Mynt. Mynt is the operator of GCash.
“We are happy to partner with GCash and be the first chain of stores in Cebu who will offer this combined GCash-Alipay QR to our customers. We at The Islands Group are committed to make our customers’ shopping experience more convenient. We also believe that this will open opportunities for us with the influx of Chinese tourists in Cebu. Islands Souvenirs stores will now be able to accept Alipay payments. Thanks to GCash,” said Jonathan Jay Aldeguer, CEO of The Islands Group.
For GCash users, they can pay via the scan to pay feature in the GCash app while Alipay users may also use the same feature in the Alipay app.
A 2017 survey conducted by research firm Nielsen noted that over 94% of Chinese tourists expect to use mobile payment methods when travelling, bringing their cashless lifestyle overseas.
Alipay is now accepted by brick-and-mortar merchants across 41 countries and regions who connect with travelers via the Alipay’s in-app marketing platform and accept payments in stores and online.
The Islands Group traces its history back to the early beginnings of Islands Souvenirs in Cebu in 1992. Breaking the mold of cottage-industry souvenir products, Islands Souvenirs, carved out a niche for itself by providing quality souvenirs that were both practical and creatively designed. It was one of the very first retail companies who made use of design in a country rich in natural beauty through destination-specific merchandise.
Public Company Information:
PSE: GLO
