Mynt, Ant Financial launch new QR code to tap Alipay customers

Globe Fintech Innovations Inc. (Mynt) and Ant Financial Services Group. have launched a quick response (QR) code solution which would allow Chinese tourists using Alipay to transact with Philippine merchants.

In a statement on Tuesday, Mynt said the QR code solution will enable local merchants to accept payments from both local users using GCash, and Chinese tourists using Alipay in a single connection.

“By jointly establishing this QR code with Alipay, all merchants working with GCash will be able to accept Alipay as a payment option for Chinese travelers in their stores, while also catering to the local user pool that have now grown to love our cashless lifestyle app,” said Anthony Thomas, president and CEO of Mynt.

“We are hopeful that our merchants can benefit from the increased football and revenue stream brought by the increasing number of Chinese tourists coming to the country,” Thomas noted.

Ant Financial senior vice president of global business Douglas Feagin said this development would have positive impact on the partnership between the two companies.

“With the success GCash has demonstrated over the last twelve months, we are pleased to elevate this strategic partnership today by establishing GCash QR code as the common QR code for both local users and visiting Alipay users,” he said.

GCash president and CEO Albert Tinio said last year the company expects to reach a subscriber base of 10 million in 2018.

Last year, Ant Financial acquired a 45 percent stake in Mynt. —VDS, GMA News