GCash accepted in MRT, LRT soon

MANILA, Philippines — E-wallet leader GCash is introducing a new set of app upgrades and financial services within the next 12 months, including a feature that would allow users to pay for their train fares.

At the FutureCast 2024, G-Xchange Inc. president and CEO Oscar Reyes Jr. said the leading e-wallet in the Philippines will bring in a tap-to-pay function soon.

This means GCash will be integrated with near field communication (NFC) technology that would enable customers to process transactions at the tap of their phones.

As a first, Reyes said commuters may soon use the feature to enter the Light Rail Transit Lines 1 and 2 and Metro Rail Transit Line 3, giving them the option to skip the line for physical tickets. The function will also be available in select public buses in Metro Manila to encourage Filipinos to go cashless in their daily commute.

Reyes said GCash will charge no user fees when transacting with tap to pay. Once the feature is launched, customers have to activate it only once to be able to use it.

On top of this, GCash will bring in a junior version of the app for children aged seven to 17, but the platform will be limited to basic functions only.

In particular, the app will enable children to receive money, purchase load, pay cashless and buy online, giving them an initial look of what it is like to handle finances.

For this app, parents must create an account for their children and a valid ID, like school ID, has to be presented to activate it.

Meanwhile, GCash is doubling down on efforts to expand its presence overseas. Soon, the e-wallet will launch a feature that would give foreign visitors a 30-day access to the platform using either a local or international number.

Through this, GCash wants to widen its reach in the travel market given that it is climbing back to pre-pandemic state. Foreign tourists who would get access to GCash may use some of its basic services like scan to pay and send money, minimizing the need to bring cold cash when touring the archipelago.

GCash, owned by Mynt (Globe Fintech Innovations Inc.) and operated by G-Xchange, is the largest finance app in the Philippines, offering a range of financial services from cash transfer to instant loans.

Yearly, the app gathers leaders and stakeholders in a convention called FutureCast to promote its products and services that will be launched over the next 12 months.