Qwikwire Partners with the Philippines Leading Mobile Wallet Provider: GCash!
Qwikwire Partners with GCash to power real estate transactions in the Philippines!
In a deal signed last Dec. 6, 2018 at GCash’s Taguig office, Qwikwire CEO, Ray Refundo, together with Mynt’s President and CEO, Anthony Tomas, met to finalize the deal, to sign the contracts and to formally seal the partnership.
“In the next 2–3 years, I firmly believe that there will be a significant change in how we do payments here in the Philippines. In the same way that most Filipinos skipped having a landline in their households and went straight to owning mobile phones, I think we can go from a society where most doesn’t have a bank account to turning their smartphones into a mobile wallet.”
Ray Refundo, Qwikwire CEO
GCash is a BSP-regulated mobile money service company that facilitates transactions using your smartphones. It’s like having your wallet inside your phone, giving you hassle-free and safer ways to go cashless.
“As the number of merchants accepting mobile payments increase, there will be more and more consumers that will adapt to e-wallet, this, in turn, will change us from a cash-heavy society to doing cashless transactions.” Ray added.
As owned by 3 corporate giants, Globe, Ayala Corporation and Ant Financial, GCash started out when Globe formed its own subsidiary, G-Xchange Inc., in 2004 to handle the mobile payments and remittance market in the country.
This lead to the development of the GCash’s different products and services like:
- Bills Payments
- Online Payments
- Real Estate payments
- Access to credit (through GCredit)
- Cash-out (For Merchant accounts)
And many more!
These services coupled with its partners propelled GCash to be the largest mobile payments app. in the country today.
“With the newly forged partnership of GCash with Qwikwire, revolutionizing the real estate payment scheme would be possible. Without a doubt, GCash and Qwikwire can perform better than the traditional payments system, since the convenience and accessibility that the partnership will create to the customers are based on the latest available technology in the country,”
Anthony Thomas, President & CEO, Mynt.
With the smartphone penetration in the Philippines ever increasing, from 34.44M in 2017 to an estimated 46.04M by 2020, alternative methods of payment other than cash and bank transfers are making its way to the mainstream masses. Coupled with the growing number of merchants willing to accept alternative payment methods, the need for GCash’s services are becoming more and more apparent.
As the leading cross-border payments platform for real estate in Southeast Asia, Qwikwire has always strived to give a more complete and robust payments experience to its users and corporate partners. Adding a mobile payment option for real estate related transactions is another giant step to solidify its position in the Philippines’ Fintech industry and deliver on its mission.
Through this partnership, unit owners will now have the option to transact through their mobile phones and pay for their properties in an easy-to-use app. With just a few touches, GCash with the help of Qwikwire, will be able to facilitate payments quickly and securely as well as provide a safe way for developers to receive their payments.
This adds to the overall convenience Qwikwire brings to its users as you wouldn’t even have to leave the comforts of your own bed to complete your transactions. You’d only really need 2 things: Your smartphone and an internet connection. Giving everybody the option to pay from anywhere, anytime.
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