Business

7-Eleven, GCash team up for barcode transactions

7-Eleven, GCash team up for barcode transactions

MANILA, Philippines — Mobile wallet GCash and convenience store giant 7-Eleven have entered into a strategic partnership to provide greater convenience to their customers.

The partnership allows GCash account holders to pay for their purchases in 7-Eleven stores via the scan-to-pay (STP) via barcode feature in the GCash app.

“This partnership is anchored on the shared goal of enabling more Filipinos to participate in the digital financial landscape. By allowing 7-Eleven stores to accept GCash STP via barcode payments, we are bringing the vision of building a cashless Philippines,” GCash president Anthony Thomas said.

To use GCash’s STP via barcode, 7-Eleven customers only need to generate their unique barcodes through the GCash app and allow the cashier to scan their barcodes to complete the transaction.

GCash said these two easy steps streamline the already-frictionless QR code system.

With STP via barcode merchants do not need to have a QR key code, which the customer scans to transact.

Merchants also do not need to have their own mobile devices to verify the payments, as STP via barcode is already integrated in the merchant’s point-of-sales, GCash said.

“We are pleased to partner first with GCash, whom we have been working with for several years.  Many customers already visit us to cash-in their GCash wallets, now they can use those same wallets to pay for their purchases as well as participate in our CLiQQ loyalty program,” 7-Eleven president and chief executive officer Jose Victor Paterno said.

The STP via barcode is now available in more than 2,800 7-Eleven stores in the country. It is also available in majority of Puregold outlets and Starbucks stores nationwide.  

GCash, which is operated by Globe Fintech Innovations Inc., said the partnership with the convenience store chain also supports the Bangko Sentral ng Pilipinas’ goal of creating a more cashless Philippines starting this year by migrating 20 percent of the total transactions to non-cash means such as digital payments.

Based on a study conducted by the Better Than Cash Alliance, a United Nations-backed organization, digital transactions account for 20 percent of the total value of transactions and 10 percent in terms of volume in 2018.

Thomas said GCash plans to continue pushing for the development of its platform this year to enable more people to participate in the digital financial revolution.

“As a strong government partner and leader in mobile digital payments, we at GCash remain relentless in developing more products and services that will fit perfectly into the government’s plans for the country’s financial landscape,” he said.

GCash ended 2019 with 75,000 QR merchants, 30,000 cash-in points and 400 partner billers who accept GCash payments.

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