Traveling Filipinos who are using GCash in Japan can now use the app in more stores, including small businesses in the countryside.
By the end of the session, the benchmark Philippine Stock Exchange Index (PSEi) shed 0.19 percent, or 13.89 points, to 7,388.92.
IT & Business Process Association of the Philippines, Inc. (IBPAP) chief operating officer Celeste Ilagan said they are “very concerned” about Revenue Memorandum Circular (RMC) 5-2024, which the Bureau of Internal Revenue (BIR) released in January, as it mandates a 25 percent withholding tax and 12 percent value-added tax (VAT) on business entities providing cross-border services.
In a statement on Monday, the Ayala-led e-wallet brand announced that its partner cross-border payment solution company Alipay+ had teamed up with PayPay, allowing GCash to widen its presence in Japan.
“The expanded coverage means access to a more diverse set of merchants, too by enabling cashless payments to local businesses like izakayas, wagashi shops, guesthouses and anime merchandise shops,” GCash explained.
Article continues after this advertisementREAD: GCash to expand reach to 10 new markets abroad
dragon slot machineFEATURED STORIES BUSINESS BIZ BUZZ: BCDA wins over more John Hay lessees BUSINESS LandBank eyes bond sale in 2025 BUSINESS PSEi tumbles to near 7-month lowGCash users can make payments in over 3 million merchants in Japan by scanning the PayPay QR (quick response) codes at the stores.
“Through the partnership between Alipay+ and PayPay, we are making a crucial step forward in bridging a gap in global tourism through seamless, cashless payments,” GCash International general manager Paul Albano said.
Article continues after this advertisementThis latest initiative is part of the goal of the e-wallet brand to expand its service globally to reach out to more Filipinos.
Article continues after this advertisementGCash Overseas is available in 16 markets: United States, Canada, United Kingdom, Australia, Italy, Japan, Germany, Spain, United Arab Emirates, Qatar, Hong Kong, Taiwan, Korea, Saudi Arabia, Kuwait and Singapore.
Article continues after this advertisementTo sign up, users living abroad can use their international mobile numbers and Philippine passport or other Philippine valid ID as proof of identity.
Having fully verified accounts will allow the users to send money home for free via the app. Users can also pay bills and buy load credits, among others.
Article continues after this advertisementLast year, Albano said they plan to make their services available in 10 more markets.
GCash is also available as a payment platform in select merchants in several countries including Japan, South Korea, Singapore, Malaysia, Hong Kong, Macau, Qatar, UAE, US, France, Italy, Germany, Switzerland and UK.
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The e-wallet also has partnership with international payment gateway Visaking game, enabling its users to pay in over 100 million merchants across 200 countries and territories. —Tyrone Jasper C. Piad INQ
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