BUSINESS transactions will be much easier both on the side of the consumer and the merchant when using cashless transactions and solutions offered by Globe myBusiness.
During the Globe press conference held at Seda Abreeza Hotel Wednesday, June 6, executives of Globe MyBusiness urged the Dabawenyos to finally make use of GCash when doing purchase and bill payments.
There are basically four platforms of this technology by Globe supporting the consumers’ and the merchants’ need of mobile wallets, payment/remittance services, loans, insurance, and investment.
The Gcash is a primary platform used for quick and easy mobile money management and services while the GPay allows scan-to-pay transactions in partner merchants through scanning of the QR code.
This is available nationwide and can also function as direct payment to online merchants and enrolled billers. On the other hand, the Fuse is used to get easy access to personal and business loans with competitive interest loans, while the Mynt, on the other hand, allows everyone to avail of insurance packages that are fit for their needs, and in the future to venture into micro investments for as low as P50.
“Our mission really is to invest in the business of entrepreneurs, we partner with them especially in this digital age,” said James Lopez, the Channel Manager for Globe myBusiness Davao.
According to Cathlyn Pavia, the cluster head for Business Development in Vismin, this initiative was created after realizing an opportunity that even if three out of four Filipinos do not have bank accounts, 75 percent of the population does have mobile phones – with some having more than one sim and 58 percent of the population also has internet access.
“The mission of Mynt is to create a cashless nation leading to finance for all with its mission of providing innovative and first-in-world FinTech solutions to consumers, merchants, and organizations,” Pavia said adding that with the services that GCash provides such as the capability to buy load, pay bills, send money, book movies, shop online, and pay offline, there will be less time and energy to spend on long queues.
Certain rebates and promos are also available for people using the GCash app. At present, there are about seven million downloads of the app with an average of 300,000 new downloads every month. When one is a user of the app, Pavia said they do not only save on time and energy, they also save a lot of money because for specific amount spent for specific transactions, there will rebates offered.
She also said transactions are secured. She cited as an example that whenever consumers with GCash app and/or mastercard do offline purchases through QR scanning or mastercard scanning, a real-time SMS will be sent to them regarding the details of their transactions – purchase amount, name of merchant, and the time and date the transaction was made.
On the side of the merchant, on the other hand, an SMS will also be sent to them stating the necessary details of the transaction like the amount and the date. Pavia added all the revenues made by the merchant for the entire day will be automatically collated by the GCash technology and would need to traditional and face-to-face transaction with the bank to remit and organize daily revenues.
As for the employees of the merchant who use GCash as their form of salary distribution system through the GCash EMV mastercard, the employees will also benefit. Pavia said real-time SMS notification for all kinds of disbursement and movement will be sent to the employees.
They can also withdraw the money 24/7 from any ATM nationwide.
The GCash EMV mastercard is also free from banking hour limitations, and has zero maintaining balance and zero annual fee.
Pavia urged Dabawenyos to learn to be efficient consumers and businessmen by going digital with payment and purchase transactions. (JPA)