GCash waives the QR Ph transaction fees or merchant discount rates (MDRs) for micro-merchants who use the scan-to-pay service until the end of 2023.
Micro-merchants are people who run small businesses, like sari-sari store owners, public market vendors, and online sellers.
According to mobile wallet service GCash, micro-merchants have access to an increased wallet limit of up to PHP 500,000 per month. Further, the 1.5 percent transaction fee is waived up to PHP 100,000 in gross sales.
For those unaware, e-wallets and other payment platforms charge fees of up to 2 percent for using their cashless transaction services, such as QR Code-based and card payments.
Ren-Ren Reyes, the President and CEO of G-Xchange, Inc., the mobile wallet operator of GCash, said:
For GCash, making this service free means micro-entrepreneurs can earn a little extra for their families through safe cashless transactions. We are committed to working with our micro-entrepreneurs to achieve their business goals in the digital economy. We are one with the Bangko Sentral ng Pilipinas [BSP], in its goal of bringing more micro-merchants into the digital economy. Together with our partners, we will equip micro, small, and medium enterprises (MSMEs) with the right tools and products so they can grow their businesses safely and conveniently.
With GCash's scan-to-pay feature, merchants can track payments received more quickly and at no additional cost to their customers.
To date, GCash has been enabling 845,000 small-scale community merchants with an array of digital financial solutions.
For the uninitiated, through the GCash App, users can easily buy prepaid airtime, pay bills at over 1,600 partner billers across the country, send and receive money anywhere in the Philippines, even to other bank accounts, buy from partner merchants and social sellers, and get access to savings, credit, loans, insurance, and invest money, among other things, all from their smartphones.
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