GCash, the leading financial super app in the Philippines, has announced that it will waive the QRPH transaction fees and merchant discount rates (MDRs) for micro-merchants who utilize their scan-to-pay service until the end of 2023. Additionally, micro-merchants will have an increased monthly wallet limit of up to P500,000. Furthermore, GCash will also waive the 1.5% transaction fee for gross sales of up to P100,000.
Compared to other e-wallets and payment platforms that charge fees as high as 2% for cashless transactions, GCash’s decision to make this service free for micro-merchants allows them to earn more money through safe and convenient transactions. Ren-Ren Reyes, the President and CEO of G-Xchange, Inc., the operator of GCash, expressed their commitment to supporting micro-entrepreneurs and helping them achieve their business goals in the digital economy.
Micro-merchants, including sari-sari store owners, public market vendors, and online sellers, can benefit from using GCash’s scan-to-pay feature as it enables quicker payment tracking without any additional costs for merchants or their customers. Reyes also emphasized GCash’s alignment with the Bangko Sentral ng Pilipinas’ objective of bringing more micro-merchants into the digital economy. Through collaboration with partners, GCash aims to provide micro, small, and medium enterprises (MSMEs) with the necessary tools and products to grow their businesses safely and conveniently.
Currently, GCash has empowered 845,000 small-scale community merchants with various digital financial solutions. By waiving transaction fees and MDRs for micro-merchants and increasing wallet limits, GCash continues to support and empower the micro-entrepreneur community in the Philippines.
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