GCASH American Express Virtual Pay is driving the m-commerce space in the country as more users are purchasing items and apps from online retail sites and digital stores via a secure and convenient platform.
“We look forward to reaching out to more Filipinos and get them into the habit of conveniently buying items online without the need for credit card,” said Xavier Marzan, president and CEO of G-Xchange Inc., the operator of GCash.
Parent Globe Telecom said that as of the first quarter of 2015, customers using GCash American Express Virtual Pay grew by 460 percent from a year earlier. Transaction volume or the number of transactions made by customers increased by 250 percent, while transaction value or the amount customers spent grew by 105 percent.
Apple’s iTunes, one of the service’s top merchants, also saw a rise in transactions with volume and value growing by 108 percent and 85 percent. As of end-2014, iTunes purchases accounted for 27 percent of all GCash American Express Virtual Pay transactions, up 43-percent on-year.
Virtual prepaid card
GCash American Express Virtual Pay is a virtual prepaid card linked to a GCash customer’s wallet and allows a secure way of shopping from online retail sites that accept American Express.
The service also enables GCash customers to have their personalized US address where items ordered online can be delivered, granting Filipinos direct access to exclusive US goods. From this address, the item will then be shipped to the customer’s preferred delivery address in the Philippines.
GCash American Express Virtual Pay can be used to buy items from Amazon, PayPal, eBay, Zappos, Sephora, Gap, Old Navy, Agoda, Google Play Store, and US PlayStation Store.