Globe and Ant Financial collaborate on QR payments

The Ayala Group's Globe Telecom and Alibaba Group's Ant Financial Services Group collaborate on launching a purchase-by-scan system. Conglomerates headquartered in Manila and Hangzhou launched a new cashless option that allows consumers to buy goods and services in the Philippines by scanning QR codes using smartphones.

Tinuku Globe and Ant Financial collaborate on QR payments

Jack Ma on Wednesday announced a partnership of Globe Telecom and Ant Financial to use Globe Telecom's GCash mobile application similar to Alipay's Ant Financial. GCash's "scan to pay" feature was launched early in the Glorietta shopping mall in Makati City.

Globe CEO Ernest Cu said the feature will soon be launched at other Ayala malls, including Greenbelt, TriNoma, Market! Market!, Alabang Town Center, Ayala Center Cebu, Bonifacio High Street and Ayala Malls The 30th.

"Our challenge today is to make digital payments to our customers instead of cash or credit cards. The more people use data on smartphones, it's time to enable digital payments and let this become mainstream," Cu said.

"In this country, only 5 percent of the population has credit cards, almost everybody brings cash at all times to pay for something. We find partners and the right time to really improve business and change the way we use financial services," Cu said.

Alipay Singapore Holding Pte. has acquired 45 percent of Globe Fintech Innovations Inc. The deal in the new partnership states Alipay has 45 percent, Globe Telecom holds 45 percent and Ayala Corp., owns 10 percent. Cu said that their partnership has changed.

Consumers pay for products and services by scanning QR code displayed by merchants and stores. Business owners only need to display these codes in stickers and do not require the need for any expensive equipment.

"The comfortable daily life of 520 million Alipay users is enjoying and will soon be realized in the Philippines. Scanning technology for payments will lower costs, improve efficiency and improve security," said Ant Financial CEO Eric Jing.