By Halee Andrea Alcaraz, Contributor
Paying for fares during your commute is now possible with just one tap away. Finance super-app GCash has launched its Tap to Pay near field communication (NFC) service, making commutes more efficient.
The NFC feature was introduced during the GCash FutureCast 2024 on Friday, along with other innovations set to be rolled out this year.
The Tap to Pay feature does not have requirements, applications forms to fill out, or fees to use the NFC.
All you will need is a smartphone with a working NFC and to ensure that your GCash account has enough funds to pay for your commutes by tapping your phone on supported terminals.
GCash has yet to announce the exact date for the launch but once rolled out, the service will be available for commutes on trains and other bus systems.
Here are the other new GCash features you can enjoy:
- Gigi
- Gigi is an AI agent available directly from your GCash app’s transaction history. One of its capabilities is to lock a GCash account in case a user has lost their phone. It can also conduct security checks, access previous conversations, and connect users to live agents as necessary.
- Smartwatch payments
- GCash users can soon pay by flashing a QR code through select Huawei smartwatches, promoting cashless payments.
- US bank cash-ins
- Targeting individuals with friends and family in the US, users can now cash in from over 12,000 American bank partners, simplifying remittances and management of funds globally.
- GCash Tourist
- Tourists can now “pay like a local” when they are in the Philippines by getting 30-day access to basic features like Scan to Pay and Send Money.
- Tax refunds
- Filipino travelers can also soon claim their digital tax rebates through GCash, which partnered with tourism shopping tax refund company Global Blue.
- This is available in European countries like France, Germany, Italy, and Spain.
- GTravel
- Users will be able to book flights and hotels through this feature, boosting their travel experience.
- GInsure
- To make GTravel even better, GInsure allows tourists to apply for travel insurance with coverage of up to P2.5 million. This is under GCash’s partnership with Standard Insurance and Malayan Insurance.
Green solutions
GCash has also unveiled GImpact, part of the company’s commitment to fighting climate change by allowing users to pave the way for a greener future. Under this feature, transactions within the app are aimed at carbon reduction.
The reduced emissions will be converted to Green Points that will be used to plant real trees through partner NGOs backed by GForest.
The e-wallet platform also announced GFarm, an initiative helping Filipino farmers by providing them with fruit tree seedlings like avocado, coffee, and jackfruit. Proceeds from GFarm directly go to farmers to support a more sustainable livelihood within their communities.
GCash for the future generation
Kids between seven to 17 can now have their e-wallet and debit card through GCash jr. Visa Cards, coupled with GCash jr. with Parental Controls to raise children with good spending and saving habits.
Parents can set up children’s wallet limits, allowing for supervised purchases and subscriptions while giving kids a sense of ownership and independence. With this feature, kids can access their allowance anytime and anywhere.
Kids can also have their first savings account through GSave jr., where they can set their money goals and manage their savings.
Borrowing made easy
As GCash’s initial goal was to democratize financial services, more people will now have a chance to borrow using Borrow on the Spot, a feature powered by its lending arm, Fuse.
Through this, users can request for reassessment of their creditworthiness and get a higher credit limit using GGive, making borrowing more accessible – something that the average Filipino cannot get from traditional banks.
GCash, which is available on App Store, Huawei App Galery, and Google Play Store, will roll out these innovations in phases.
Recently, the digital wallet company was allegedly breached by threat actor Krypton Zombie, but GCash said it found no indication of any data compromise after checking its know-your-customer data.
One of the innovations introduced at the FutureCast was Online PaySafe, a security feature directing customers to the GCash app to complete their transactions through multi-factor authentication.
GCash assured customers that their funds are safe, adding that it is cooperating with authorities and regulators as the investigation continues.