Source: Philstar.

com
Date issued: February 23, 2020
Title of Article: 7-Eleven, Gcash team up for barcode transactions

Summary:

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.

“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.

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.

“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

Reaction

Filipino nowadays are looking for convenience, efficiency, and availability, And I think Gcash has
this kind of service and a good mobile e-wallet in the market. With the effort of advertising
their services in television, Facebook and YouTube they have been familiar to people including
me. I think Gcash strategy targeting rural areas is a good platform because not all individualities
have a capability to open a bank accounts with a high maintaining balance or need to travel just
to pay to a bank. From growing population of millennials and more becoming open to
technology I see that Gcash will eventually be a good mobile e-wallet services, from buying load
or purchase items online, growing demand for this service among young professional segment,
convenience of sending money to friends and family electronically more efficient while using
same for bills payments and online payments like booking tickets, shopping or for travelling.
Meanwhile, Gcash partnering with 7-eleven is not surprising because they have been already
doing it with the use of Cliqq machine to cash in. So, this new project is a good business venture
since there are a lot of 7-eleven stores nationwide and already well known by people,
customers will surely find it convenient and easy. But there is also bad side in partnering with 7-
eleven because they have a bad history of technical error or unavailability of cash in services
with Gcash most of the time, which I have been experiencing many times with 7-eleven so what
more with this new partnership, the new project. So I recommend 7-eleven to work out more
this new project with Gcash since they have a bad comments coming from customers.