Globe Telecom’s GCash has unveiled a platform that allows users to pay merchants that accept Mastercard payments across the Philippines.
GCash said on Wednesday “Tap N’ Pay,” a next-generation contactless payment platform developed in collaboration with Singapore-based fintech company Open Fabric, has been seamlessly integrated with Mastercard.
Through Tap N’ Pay, GCash will be able to complete customer transactions by tapping their Near Field Communication enabled Android phone on any compatible point-of-sale terminal that processes credit card payments.
“We believe that ensuring tech leadership is critical, and with the Open Fabric platform helping enable Tap to Pay, the next stage of digital transactions is achieved,” Ferdie Perez, GCash vice president and head of product innovation, said.
The development of Tap N’ Pay is in line with the country’s fast-evolving digital economy, he said.
Soma Ramasamy, Open Fabric founder and CEO, describes the payment solution as a “game changer” that demonstrates how technology can bridge gaps in financial access.
Tap-and-go payment technology is well established in Singapore, Japan, and the United States.
With Open Fabric’s infrastructure, the collaboration ensures that Filipinos gain access to the same level of efficiency and security that has become standard in more advanced digital economies.
